The highly respected and well-regarded financial expert Ray Dalio had published a video back in 2018 about his Principals for Success. What utterly amazed me was how much he says also applies to people trying to get out of debt or dealing with bad debt. I’ve embedded the video above, but here are the key … Read more
The end of every calendar year is a time for many to reflect on the highs and lows from the past 12 months. Unfortunately, some people might not have made as much financial progress as they likely would have liked in 2019. CompareCards commissioned a survey of almost 800 credit cardholders and found that nearly … Read more
Question: Dear Steve, I received a mail invitation from fresh start company. I called and they told me about their debt consolidation program and I got to choose which credit card I wanted to include in the program. So it came out to 300 a month for 36 months to pay off the cards. Which … Read more
Question: Dear Steve, First of all, LOVE that you are answering such tough questions with all proceeds going to Pilot.Dog. Love this. You’re amazing. Some background: I am a 28 year old living in NYC. I am currently making $55,000 with a monthly rent of $1450 excluding utilities. I have three credit cards: one with … Read more
As someone who has helped people with debt and money troubles since 1994 I’ve seen thousands and thousands of consumer situations when dealing with all sorts of debt. From mortgages, credit cards, car loans, bank loans, personal loans and students loans; I’ve seen it all. I’ve worked with people with gambling problems, shopping addiction, overspending, … Read more
Question: Dear Steve, $100,000 in unsecured debt. $50,000 of total is in 5 year consolidation loans. $10,000 in health bills. $165,000 annual salary. Bouncing credit card to consolidation loan keep credit score high. Going into debt $500 more per month. Children so can’t reduce expenses, really. Should I go into Chapter 13? Should I use … Read more
Question: Dear Steve, Due to medical issues and a large percentage (25%) loss of salary my wife and I are in serious debt. We owe approximately 52,000.00 in credit card debt. I am looking at some debt solution companies at possibly helping get this debt under control and paid off in a reasonable period of … Read more
For years I’ve asked people in debt this simple question, “Do you have a greater responsibility to fix the past or fix your future?” It appears Socrates beat me to the punch and asked the same question of people millennia ago. It seems this question of logical responsibility is one we’ve been asking since nearly … Read more
My wife and I have about $50,000.00 of credit card debt. We both work and we are also paying off our kids college. I do not want to contact a debt settlement company because I believe they are all scams. I also do not want to file bankruptcy. I just want to know if there … Read more
“Dear Damon, My wife had a full time job, then stopped working for a few years when we had children, then went back to work part time for about 8 years. This was a big decrease in income and, regrettably, a lot of times we charged to compensate in doing or buying things needed during … Read more
“Dear Steve, I have over 10,000 in debt. Most is a credit card and loans. I have debt collectors calling me all the time but I don’t answer. I would like to pay off my debts but recently I quit my job and have to way to pay. I need help and would like to … Read more
CNN broadcast the story below on how one couple managed to dig themselves out of debt in about three years. It is a good news story for those people that can afford the minimum payment on their debt plus pile on extra funds. In this case the couple used a credit counseling service to help … Read more
The Question Isn’t if I Can Get You Out of Debt. That’s Easy. I Can. The Real Question is…Are You Really Ready? People come to me all the time in an effort to get out of debt. I believe they desire to eliminate their debt and they can visualize a world without their painful debt … Read more
Sean “Dear Steve, I’m a 20 year old college student around $2000 in debt, with two credit cards and one personal loan. What should I pay off first? The credit card with the highest balance or the one with the higher interest rate, or the loan. What effects my credit score the most? Sean” Dear … Read more
In this time of great economic worry and stress, Bank of America is sending out an offer they call their Clean Sweep® – Bank of America® Debt Consolidation Plan. I thought it would be beneficial to take a close look at this offer and use it to help educate readers about what to look for … Read more