Can I Get My Stolen Student Loan Wage Garnishments Back?

Question: Dear Steve, I have a defaulted student loan that was subject to wage garnishments. After several months of $400/month being taken out of my checks beyond my control, I was finally informed that 1099 employees are not subject to wage garnishments and that they would stop forcing my employer to cut my checks. However, … Read more

Self-Employed? Kiss Your Vacations Goodbye

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 … Read more

How Smart IRA Planning Can Help You Pay Less For College

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 … Read more

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

“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 … Read more

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

“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 … Read more

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

“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 … Read more

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

“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 … Read more

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

“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 … Read more

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

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 … Read more

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

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 … Read more

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

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 … Read more

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

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 … Read more

Should We Walk Away From Our Mortgage? – Phyllis

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 … Read more