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How Do I Find Out Where My Old Life Insurance Policy is Now?

Question: Dear Steve, In 1982 I bought a Life Insurance term policy and Bankcard Holders was the policyholder. Since then I have divorced and remarried and wish to change my beneficiary. However, it appears this company is now out of business. Would you know how I would find out who purchased their existing accounts at …

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Should We Borrow From 401k and Life Insurance to Settle Our Debt? – Moke

“Dear Steve, My wife and I are 81K in unsecured debt and 5K in back taxes. All the unsecured debt is now reflected as judgements. We are now both facing garnishments. We are both working and have a yearly combined gross income of about 110K. We own a home and are paying off two cars. …

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A&O Resource Management Executives Sentenced To Jail Time

A&O Resource Management Ltd ‘s co-founder and part-owner were sentenced this past week in federal court for their roles in a $100 million life-settlement fraud scheme. Part-owner, Adley Abdulwahab (pictured below), was sentenced to 60 years while co-founder, Christian Allmendinger got a 45 year sentence. Apparently, the two men took place in selling “bonded life …

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Will My Family Have to Pay My Debts From My Life Insurance After My Death? – John

“Dear Steve, I have $152,000 in student loan principal, down from $163,000 after 6 years of payment. $77,000 are at a fixed rate of 2.625%. $6000 are at 5% fixed, and $69,000 are at a variable rate, which currently averages 2.5%. I also have $22,000 in credit card debt, which is at fixed rates of …

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