Question: Dear Steve, I lost my job and have over 154,000 in unsecured credit debt. I was without a job for 3 years and was going to file bankruptcy. Now I just got a good new job, and I’m no longer eligible to file. The credit card companies have charged off the debt, but they …
Question: Dear Steve, I ran up a lot of debt supporting my sister and her family of 6. Her husband’s payday was always around the corner. Finally, despite having a good salary, I filed bankruptcy, Chapter 11. After several months, I realized the professional damage that could cause me, and I petitioned to have it …
Question: Dear Steve, I have a situation that I’d like to get your feedback on. I recently found out that I was a victim of a 3-year long scam. During the 3 years, I maxed out 5 credit cards and took out 5 personal/unsecured loans; my total debt > $95,000. (Side note: I’ve reported the …
If you have been following the early tips I suggest for how to negotiate and settle directly with your credit card bank, you have already had several “just calling to keep you posted” conversations with your bank (I recommend you call your lender once a month, or every several weeks, up to month 5 of …
This post was inspired by my comment exchange with a site reader about negotiating a settlement with a Discover credit card that is now in the hands of a collections law firm. My comment would have been too lengthy a reply on the page the discussion originated, and this is also something that is not …
“Dear Michael, I have the great deal credit debt – long story – used a number courtesy checks against these credit cards to add monies into company believing I would pay them off. Well that did not happen, so I have been paying monthly and these amounts – never go down due the interest rates. …
“Dear Steve, Time to Face the Dragon? I have 40k in credit card debt amassed during 2 years of unemployment. 28k of it has been sold to third party collectors. I am now in a position to clean it all up. I realize now I should have declared bankruptcy. But it’s too late now since …
“Dear Steve, I currently have $39,000 in credit card debt spread across 5 cards. Two with Chase and 1 each with Citicards, Bank of America, and American Express. I am not behind on any payments, but am only able to make the minimum due on each card every month. I expect that in the next …
“Dear Steve, I was wondering if it’s advantageous to try and settle multiple cards at one time? The 4 cards will charge off in March (within about 20 days of each other). I will have access to some money by then. With that and a tax return, I might have enough to settle them together. …
“Dear Steve, I have several collections & charge-offs on my credit report. I am getting ready to have some money to hopefully pay off several of these. Today, I have contacted 5 or 6 of the companies by telephone. For one, I was told they would settle for almost half. Some of the creditors – …