I’m Retiring with Credit Card Debt I Cannot Afford. – Terri

“Dear Michael, I will retiring in 2015 and I only owe American express and I can’t pay them since my only source is social security and will be moving to Mexico. I understand they can’t get my social security. Do I still need to file with the courts on this debt? Terri” Dear Terri, Whether … Read more

Retired Couple Takes Out Loans With Payments Twice Their Income

“Dear Steve, My wife and I are retired with a fixed income of just under $3000 a month. Over the last few months, we’ve had to take out loans at several, high interest businesses. Now, our payments are twice our income. We have a small place, (mobile home and storage bldgs.) valued at about $20,000, … Read more

My Store Lost Money and Left Me With Debt. I’m Retiring. – Dave

“Dear Steve, Lost 1165.00 income from sale of store and I was the bank…total 54,000.00 I am retired and have 1500.00 SS and 500.00 company retirement. Problem is I ran up credit card dept trying to keep the store going and have paid off all bank loans except I have around 30,000.00 credit card debt. … Read more

I’m 62 Years Old and Saving Hard for Retirement. What About Our Other Debt? – Michael

“Dear Steve, I am 62 yo, wife is 61 yo. Our combined stats: -We have $27k in credit card debt (0% interest, due to finding 12-18 month 0% promotional rates), -$200k home mortgage using a 5/5 arm at 2.75% which amounts to a $1000/month P&I payment–our property tax in NJ is $1000/month, -$400k in retirement … Read more

Should I Stop Working for the Church and Get a Paying Job to Pay Off Our Debt? – James

“Dear Steve, I have a $50,000 credit card debt for which the monthly payment is $1,000 at 9%. I receive a $24,000 military retirement and my wife makes $40,000 a year. I have $230,000 from early retirement in an annuity and we refinanced our mortgage two years ago for a 5% rate and the balance … Read more

We Are in Financial Overload but Getting Ready to Retire. – Tomasita

“Dear Steve, My husband and I are having financial overload. we would like to get rid of debts as soon as possible he es the only one woks and we are close to retire. What do you recomend us to do what ever is better for us. Tomasita” Dear Tomasita, Without knowing more about your … Read more