After Years of College and Federal and Private Student Loans, I Just Can’t Make It

Question: Dear Steve, So, I had both private and Federal loans for my 4 years of college. I didn’t get a job right out of school, it took a few months and then when I did get a job it was a tiny amount. I struggled financially for a while, and then when it came … Read more

I’m Afraid of Bankruptcy But Struggling Each Month

“Dear Steve, Single mother, income 1600 after deductions, credit card debt 27,000. I have a house and I’ve been making payments for two years of 928 monthly. I have an equity of 26,000. No paymentys behind. You advised me about filing chapter 7 bankruptcy, and even though I don’t want to do it, at this … Read more

We Can Just Make Our Minimum Payments and Have Good Credit But Need Help. – Becky

“Dear Steve, My husband and I are in our late 30’s with 2 sons. We have $22k in debt, $10k personal loan and $12k credit cards. We make the minimum payments each month as that is all we can do and our credit scores are above 750. I look at all of the snowball theories … Read more

I’ve Been Using Credit Cards to Help Make Ends Meet. Robbing Peter to Pay Paul. – Esperanza

“Dear Steve, My monthly income after taxes is 1,700. Mortgage payment is 928( It includes insurance and taxes. It is not enough to cover my expenses, I don’t, eat out. No movies. Home to work, No cable. Only internet. The equity in the house is 24,000. If I sell it I can get 15,000. Renting … Read more

Husband Laid Off and We Are Barely Making It. What Now? – Meredith

“Dear Steve, My husband got laid off from his job in November 2009 and has not found employment since and everything has fallen on me. We rent our apartment for the last 12 years and the monthly rent is $885.00. We have about $115,00.00 in debt. It is a mixture of Student Loans, Taxes, Credit … Read more

We Make 150K But Living Paycheck to Paycheck. What Should We Do? – Roy

“Dear Steve, My wife and I are in our mid 50s living in suburban NY. Our kids are in college. Combined, our income is $150,000. While this is considered to be good money, it just doesn’t seem to be enough to cover our needs and save for the future during the years that we should … Read more

I Can Make My Monthly Payments But Can’t Breathe. – Jas

“Dear Steve, I have 6 credit cards. One of which I am over the limit by about $500 because I didn’t read the fine print and ended up with a $900 interest fee. Between all six cards I am currently in over $20k in debt. I make $46k a year and still going to school … Read more

I Don’t Want to Claim Bankruptcy But Have No Means to Pay Our Debt. – Dawn

“Dear Steve, I work full time, and do extra jobs just to make it each month. We have credit card debt (our own fault) approxiamately 20,0000.00 with the economy inflation paying monthly bills-home, food, electric etc. has been a struggle. We have stopped paying 3 credit cards due to being short on money, we did … Read more

I’m on a Debt Management Plan But Still Struggling. – John

“Dear Steve, I am well educated, have a good job & make decent money. About 5 years ago we purchased a house, which in 1 year rose in market value from $109K to $249K, we figured we were sitting on a gold mine, so we borrowed against it to pay off my wife’s legal bills … Read more

I Can’t Get Out of Debt With What I Make. What Can I Do Without Hurting My Credit? – Michelle

“Dear Steve, I took all the debt from my previous marriage plus a mortgage. I have been able to pay at least the minimum for the last 3 years but have been unable to pay down anything. I have asked for rate reductions, etc. One card offered me a temporary rate reduction but the others … Read more