My Retired Parents Had Their Account Levied by the IRS and Their Debts Are Getting Larger. – Sara

“Dear Steve, My parents are 70 and 73 years old, and they are retired now. They have 250K of debt in the form of a home mortgage and an equity line. They have an additional ~40K of credit card debt. Between the two of them, they have 420K in traditional IRAs. They have about 5K … Read more

I’m a Retired Disabled Veteran And Student Loan Collectors Are Coming After Me. – Francis

“Dear Steve, I am 67 years old and disabiled. I went back to college and graduated 1991. Because of various problems and surgeries, I was put on permanent disability, and was unable to pay back student loan. After a LOT of correspondense back and forth between the collection agencies and the Veteran’s Administration, I was … Read more

I Invested in Real Estate Using Credit Card Convenience Checks. – Tina

“Dear Steve, I borrowed about $40,000 from 4 credit card companies after they kept sending me convenient checks with teaser rates. I had learned from a real estate seminar that this is the way to invest in real estate using other people’s money. I also used some of the money to invest in the stock … Read more

Retired, 45, Pregnant, and Afraid of Losing the House to Foreclosure. – Cris

Cris “Dear Steve, My husband and I moved to a rural town to semi-retire at the ages of 45. We found that after 22 years of marraige, we were pregnant with our first child. We were doing fine with both of us working but after the baby was born, I stopped working to stay home … Read more

73 Year Old Retired Teaching Assistant Drives Credit Cards up to $18,000. – Camille

Camille “Dear Steve, I have a 73 year old friend who, unbeknownst to her son, has driven two credit cards to their limit, approximately $18,000.00 in all. She is a retired teacher assistant and has little to no money left each month after paying the minimums for each card plus her health insurance. She is … Read more

Retired With Debt on Social Security. What Should I Do? – Kent

“Dear Steve, Retired one year ago.Have $37,000 in credit card debt.Payments total $1,200 and my SS is $20,000. I am not behind but struggle to make payments. Several cards have uped my rate to 30.0% only do to my debt to income ratio.Again, not behind but getting nowwhere with cards increasing rates. Considered Banko or … Read more