Home > Tag Archives: robbing peter to pay paul

Tag Archives: robbing peter to pay paul

5 Reasons You Can’t Get a Mortgage

Virtual Mortgage

Are you gearing up to refinance or buy a home this year? These five things may stop your mortgage dead in its tracks. Here’s what you need to know to prevent your loan application from being denied. 1. Your Credit Score Is Not What You Think It Is This scenario is all too common. A consumer will get one credit score ... 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 will be the same as ... Read More »

I Have to Use Credit Cards to Pay for Groceries and Gas. – Susan

Ready to Collapse

“Dear Steve, I was working full time (as was my husband) when we purchased our home 10 years ago (May, 2001). We refinanced to a 20-year 5.5% mortgage 7 years ago (Jan, 2004). I had a child in January 2004 and never returned to full time work b/c of my childs medical situation. I can’t catch up. I use credit ... Read More »

Debt Relief Company Said We Could Not Sign Agreement Because the Rules Change a Lot. – JDS

“Dear Damon, Moved to another town and built a home when things were good. Income is not the same as before and use our cc to cover things like insurance auto & home, advance for paying property taxes ( we still have property that we got back from a LC where we use to live). Used cc for living expenses ... Read More »

What to Do When You Can’t Make Ends Meet or How to Stop Robbing Peter to Pay Paul

By the time you make ends meet they move the ends. Winter tire and service.

It’s unfortunate that at times the monthly financial demand exceeds the money coming in. On an occasional basis and with some money tucked away in a savings account or emergency fund these unexpected events can be less than a blip in our lives. But when continued demand exceeds our financial supply or when we have no reserves to tap in ... Read More »

My Wife and I Owe Over $250,000.00 in Loans. What Can We Do? – Russ

Ready to Collapse

Russ “Dear Steve, My wife and I owe over $250,000.00 in loans, both physical therapists, however not making enough to pay the $1,950.00 a month. We both have great credit scores because we keep robbing Peter to pay Paul… Basically getting into more debt.. Add into that 2 kids and wife working less and less… Any suggestions? Russ”   Dear ... Read More »

I Am Barely Able to Handle My Debt. I’m Not Sure What I Should Do? – Theodore

Ready to Collapse

Theodore “Dear Steve, I have about $50,000 in unsecured debt. I am barely able to handle it. In order to pay my bills and keep them current, I have to “rob Peter to pay Paul”. All the while my debt is getting higher and higher. I have a mortgage of $1133 a month. I am not sure what way I ... Read More »

We Spend $1,000 More Per Month Than We Earn. – Tracey

Ready to Collapse

Tracey “Dear Steve, We have 3 credit cards with balances of 20,000 each, an equity loan 40,000, & mortgage 220,000. We make fairly decent money but I’ve been keeping track and we spend 1,000 over our checks each month. I’ve narrowed it down to shopping, cigs..grr, groceries, & dining out. I keep track weekly but by the end of the ... Read More »

I’m Digging Myself a Deeper and Deeper Hole Each Month. – Ken

Ready to Collapse

“Dear Steve, Single Dad/ I don’t know where to start. I have 2 credit cards with a total of 30,000 and I’m considering bankruptcy. I’m digging myself deeper each month and don’t know get free from this. I own a house with a small mortgage on it (60,000) there’s some equity there. I guess i just need some advice on ... Read More »

I Want to Get Out of Debt Without Ruining Our Credit. – Melissa

Ready to Collapse

“Dear Steve, With the economy in such turmoil, my husband who is self-employed has had close to no work for 6 months. I went back to work and that is helping, but our finanaces are a mess. We are living paycheck to paycheck and are barely able to make our monthly payments. We had already had credit card debt and ... Read More »

We Had Excellent Credit But Now We Live Month-To-Month. – Jen

Ready to Collapse

“Dear Steve, We are a young family of four. My husband nets $890 per week. Our mortgage is $362 every week. ($196,000 @ 5.5% 30 year fixed) I do not work but stay home with two little ones… daycare costs prohibit me working. We are swimming in credit card debt. A total of $17,193 from 5 cards with monthly minimums ... Read More »

I Fell for the Balance Transfer Gimmicks Offered by the Credit Card Companies. – Brad

Ready to Collapse

Brad “Dear Steve, My wife and I had our income reduced by $3,500 a month! I admit we overspent, and didnt save. I fell for the ‘balance transfer’ gimmicks offered by the credit card companies, and went head over heels in debt. I refinanced our home, that was almost paid off! Then they started raising rates, dropping limits, some even ... Read More »

Debt Problems Are The Same In Indiana As They Are In Ireland

Ready to Collapse

Patrick Bryan, a debt adviser friend of mine from Northern Ireland, and I were chatting recently about the universal nature of debt problems in the world. It became apparent that while we are all told that we live in an interconnected global economy it seems that the consumers of each country continue to suffer in silence when it comes to ... Read More »

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