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Tag Archives: reduced income

Lost Job, Reduced Income, Medical Bills and We’ve Depleted Our Savings. – Shelly

“Dear Damon, My husband lost his job about 2 years ago, which reduced our income. He has had some medical problems which we were trying to resolve before he got another job. We have about 45k in debt ( not including my student loans)and only about 10k in home equity. Gross salary of approximately 58k right now, hopefully he will ... Read More »

    My Income Dropped But My Expenses Remained the Same. Help. – Jon

    Ready to Collapse

    During 2010 my income dropped in half, but my family’s living expenses stayed constant. As result I’ve accumulated about $45,000 in debt. I paid off approx. $30,000 with an equity loan, but in this savage economy feel as though my debt will continue to increase. I thought of bankruptcy, however, I’m not sure how that would impact my agency and ... Read More »

      Our Income Was Cut 65% and We Can’t Pay the Bills. – Karen

      Ready to Collapse

      “Dear Steve, My husband lost his 77K per year job. Although he has found another job, we are 50K less in income. I am able to make payments on credit cards but always incur late fees as well as the balance is going no where. We filed bankrupty in 1998. I have called credit card companies but they do not ... Read More »

        I’d Like to Cash Out My 401K, Get a Home Equity Loan and Reinvest it in an IRA. – Rik

        Ready to Collapse

        Rik “Dear Steve, Hi Steve, you’re a good guy for helping so many people. We have $90,000 credit card debt all at %25, about 1/3 from unwise spending, the rest from medical bills, and taxes we couldn’t pay due to medical bills. I have been fighting minimum payments for years and years and can’t do it anymore. Our balances keep ... Read More »

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