“Dear Steve, Cut back in hours at work. Hard to keep up with the bills. Now have to do something! Why not cash out or take a paritical cashout. Could you not pay off high intrest loans or credit cards. The money you would save intrest would save money. Then increase what you were putting …
“Dear Steve, My family and I are behind on $96,000 of credit card debt equalling 7 accounts. These accounts are all between 120 and 150 days pass due. My family budget is about $1,200 a month short to make the monthly minimun payment on these accounts. One of our credit lenders who represents $82,000 and …
“Dear Steve, Should I cash out part of my 401k to pay off my 136,000 in credit card debt? Is the penalties worth getting rid of all that interest? The monthly payments are getting to high to pay due to the rising of interest rates. We tried to refinace our home but due to the …
“Dear Steve, I have 2 high interest credit cards I want to eliminate quickly.I am considering obtaining a HELOC at 4.25% vs borrowing from one of my 401-k and repaying it at 6.25%. Do you have advice on which should be the preferred solution or do you have a better idea? David” Dear David, Leave …
“Dear Steve, My work loaded dropped off and I have 350.00 a week child support just bought a home about 4 mths ago barrowed from 401K for that and now due to lack of OT work can not make ends meet along with CC. and utilties I am behind in everything. Not much left in …
“Dear Steve, Currently collecting unemployment after being laid off from my job back in Feb 2009. It is exactly enough to pay my rent. My husband’s income is mostly from tips and some side jobs he does. We have very poor credit and our utilities are behind and have no savings. We have 2 children, …
“Dear Steve, Retired – husband 69 and I am 65 Husband worked for a now defunct airline for 28 years so pension is minimal from PBGC. I have an IRA worth about $210K (withdrawing $10K lump sum annually). We are both currently collecting social security. My husband has two part-time jobs and I have one …
“Dear Steve, Hi Steve, first let me tell you what agreat comfort you are to many people. Honest advice is hard to find. I have written you before and value your opinion. If there is a way to settle debt with the creditor for a decent amount, is it not better to do that than …
“Dear Steve, We are a couple in our late 50’s. Our problem, we bought a house two years ago, payments $1700. we have $15000 in CC debt all in collections, we had a cut in income….we bring home $3100 a month. We have exhausted all savings, we cannot pay insurance, expenses, cc, etc. in full. …
“Dear Steve, My wife and I have a tremendous amount of debt. We make a lot of money by most standards, and that makes bankruptcy virtually impossible. Our credit card debt alone is more than 50% of our yearly income ($130,000 in credit card debt, plus $60K in student loans, plus $370K in mortgage debt, …
