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Tag Archives: self-employed

Self-Employed? Kiss Your Vacations Goodbye

nogot

If you’re self-employed you’ll never get a real vacation again. I read an article on the truths of self-employment recently. I’m in complete agreement that you can kiss your real vacations goodbye. I’ve been self-employed the majority of my 22 years in financial services. And I really wouldn’t have it any other way. But once you leave working for someone ... Read More »

    How Smart IRA Planning Can Help You Pay Less For College

    taxform

    With college expenses at some of the best schools now exceeding $ 60,000 per year, education-related expenses are often one of the biggest obstacles many baby boomers face when saving for their own retirement. For many families, planning for a college education goes hand in hand with IRA’s and retirement planning. Retirement Assets are Exempt from the EFC A family’s ... Read More »

      I Am Self-Employed, Show Very Little Taxable Income and Have $130,000 in Credit Card Debt. – Ian

      old man headache

      “Dear Damon, Self employed for 13+ years 55 years old Like so many self employed people the recession has been rough, add to that medical bills, and it’s easy to get caught in credit card debt. I currently have $130k in credit card debt with an average interest rate of 16%. I am making the payments, usually double the minimum ... Read More »

        I’m a Single Female Who Wants to Deal With My Debt and Do Better. – Maria

        Ready to Collapse

        “Dear Steve, I am a 46 year old female who is considering filing bankruptcy. I owe approximately 38k in IRS taxes and 60k in student loan debt. I also owe approximately 20k in personal creidit card debt. Most of hichnis in charged off status. Last year I started working independently in hopes to increase my income and create a financial ... Read More »

          I Can’t Pay My Estimated Quarterly Taxes. – Heather

          “Dear Jim, I’m a freelancer who recieves a 1099 and pays estimated quarterly taxes but last year I was unable to keep up with my payments due to medical bills and other hardships. I do not think I will have enough to pay my 2011 taxes owed by April 15th, as well as, paying my 1st quarter 2012 estimates. I ... Read More »

            My Unemployment Ran Out and I’ve Just Had a Hard Time Making Payments on Time. – Christine

            Ready to Collapse

            “Dear Steve, I no longer use my credit cards and have been just trying to pay off the balances for several years to which I’ve always paid the minimum and sometimes more on all my credit card bills, but recently the due dates have been changing from month to month, varying from the end of the month to the beginning, ... Read More »

              I’m Running Out of Money Fast. What Do I Do? – Dana

              Ready to Collapse

              “Dear Steve, Self-employed single mom in flooring industry (ca) Real Estate owned (2) rentals-devalued but currently rented but combined after rents is -(negative) $300.00 per month. Currently living in my home devalued with equity line maxed out. Credit card debit on personal credit card debt on business (corp) business currently has $15,000.00 in cash Business line of credit taken away ... Read More »

                Pam Owns Her Own Business And Wants To Reduce Her Business Debt

                Ready to Collapse

                “Dear Steve, I am a self-employed home owner with $85,000 in business debt and $130,000 in home debt. We have about $30,000 in equity on our home. We make +/- 100,000 per year. Half of that goes toward the business and the other half we live on. Should we sell our house and rent? We have really outgrown our current ... Read More »

                  I’m Self-Employed, Sinking in Debt, and Considering Bankruptcy, Again. – Aletheia

                  Ready to Collapse

                  Aletheia “Dear Steve, I’m self-employed and my earnings so far this year are about a third of what they were last year. with some scrambling for new clients, the situation is improving, as far as i can tell. but my debt load is too high. i’ve stopped using credit cards, and i’ve arranged for a personal bank loan to pay ... Read More »

                    What Do You Think Would Be The Best Way to Deal With This Debt? – Harold

                    Ready to Collapse

                    Harold “Dear Steve, I have credit card debt of about $30,000. I was out of work for awhile, I tried the self employment thing for several years but couldn’t get ahead with that. I now have a decent job, the pay is only about $23,000 a year but it is steady and it’s government and five minutes from my house. ... Read More »

                      I Live in Columbia And Want to Get Out of Debt. – Octavio

                      Ready to Collapse

                      Octavio “Dear Steve, I live outside the US (Colombia, to be more specific) and since some of the facts and options in many get-out-of-deb sites does not apply to people in my country, the basics and the methods are valid here. Now I have a special situation, I’m self employee, I make around US$800/mo, my wife is an employee, she ... Read More »

                        I Used to Make a Lot of Money. Now I Don’t. – Barbara

                        Ready to Collapse

                        Barbara “Dear Steve, I am self employed and in the last few years have been going downhill fast. I can get another job, but it wouldn’t cover a tenth of my expenses now because all this debt was nothing when my business was going well. For example, I was used to making 6 to 7000 a week, my mtg payment ... Read More »

                          Should We Walk Away From Our Mortgage? – Phyllis

                          Ready to Collapse

                          Phyllis “Dear Steve, We bought a house three years ago – ARM, two mortgages, total payment 2562. One year after we purchased the house, we were in the middle of refinancing when my husband lost his job. He was unemployed for four and a half months and we had to use our retirement to keep our bills current. My husband ... Read More »

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