Question: Dear Steve, I incurred a credit card debt of about $9,000, and I stopped making payments on this card. I signed up with a large debt consolidation company and made monthly payments of $250 toward my escrow account. My credit keeps getting hit every month because the debt consolidation company and the credit card … Read more
Question: Dear Steve, I earned a pretty good living in the healthcare field and was paying my debt, saving and investing well until a family illness struck last July. My Mom was hospitalized and sent to hospice due to heart failure. I took time off work to be the primary caregiver to care for my … Read more
Question: Dear Steve, I owe 46,000 on 3 credit cards, with a monthly combined payment of 930.00, and the monthly combined interest of 464.00. I get debt consolidation offers in the mail which I have thought of using, but I am not sure they are legitimate. I have thought of trying to get a second … Read more
The holidays are done, the gifts have been unwrapped and all you’re left with in the new year is a big fat credit card bill. From gifts to holiday parties to flights to family, it’s easy to spend more than you were anticipating in the span of a few short weeks. But don’t worry — … Read more
Question: Dear Steve, I owe at least 60k on credit cards, 35k on a truck, 100k on a 30 yr fixed mortgage. House mortgage and insurance cost per month are about 1300, car note 630; credit card payments almost 1500. Our net monthly income is 4000 for a family of 5. after asking a debt … Read more
Question: Dear Steve, I have $25,000 in credit card debt. I am not behind on my payments, my son is going into high school and I am turning 56. I want to pay off the debt as quickly as possible and start to save money for college and retirement. Mika Answer: Dear Mika, I applaud … Read more
Question: Dear Steve, Just retired in after 26 yrs. in NYS Corrections as an officer, wife left me 2017, finalized divorce in 2019, have $17,800 on 2 credit cards that are in divorce settlement that I have to pay off in minimum of 3yrs, (plus gave $25,000 to sign off on house, remortgaged house), and … Read more
Question: Dear Steve, I was just sued by one of my credit cards and another isn’t too far behind. They are all wanting to set up payments, but I can’t financially do it. I feel like I am treading water all the time. I don’t know what to do. What to do when all the … Read more
Question: Dear Steve, My husband and I both went to school about ten years ago. He has federal student loans ($30k-ish) and I have both federal student loans (40k-ish) and private student loans (30k-ish). We are both currently enrolled in school again, full time online. So all of his and my federal student loans are … Read more
Jordan Weissmann over at Slate posted this article recently. Weissmann was in somewhat disbelief that the post “Debt: A Love Story” could be a truthful representation of a couples financial condition. “To be entirely honest, I didn’t really believe the Kate and Tom story was real when I first read it. It was just too … Read more
Question: Dear Steve, I had 3 credit cards. I lost my job and place for a little while (about 4 months). I slowly got back on my feet but still barely make enough to stay afloat. I haven’t had a chance to settle any debt because I don’t have extra income. I also have no … Read more
Question: Dear Steve, Credit card debt. Working overtime to pay%. Two years didn’t miss any payment. All money goes to live and pay cards. We want to study. Before applying to college, need help with this 70 K debt which in two years went down only to 60K. We are from NY. We need financial … Read more
Question: Dear Steve, My husband and I decided to prepare for a family. We got two family-friendly vehicles before trying for a child (since I actually totaled my paid off the car after hitting a deer and his truck wasn’t safe for a car seat). Everything was going great. We had bought all main essentials … Read more
Question: Dear Steve, I’m 41 and married with kids, 2 and 5 years old. Home loan and credit cards on hold while we identify affordability. Van unregistered just received penalty notices. 20 years history of spending more than we earn. We’ve got a box of beer at home and chocolate biscuits and now can’t afford … Read more
Question: Dear Steve, I am recently married and between the two of us we have some credit card debt and students loans. Because of our wedding and moving into a new apartment, we have increased our debt. (I hate to say it, but it’s the truth.) We live in a very expensive part of California … Read more