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#AskanExpert: Too Many Credit Cards, How do I Avoid Bankruptcy?

Q. I have gotten myself into too many credit card payments. The amounts owed are relatively small but I have 13 of them! I just missed the monthly payment on 3 of them. Can I get a loan to pay them? I also have a loan for $2500 and have been charged almost $1800 in fees since February. Is there anything I can do to save myself from bankruptcy? Dear …Read More

#AskanExpert: Help, Multiple Credit Inquiries Hurt My Credit Score!

Q.  I submitted a request for an online personal loan and that kept sending me to different loan companies and they failed to tell me that all of them would be pulling my credit score and now my score lost 51 plus points in 3 days. Help me, please. Dear reader, Seeing your credit score drop so quickly can be intimidating, especially if you are actively looking for new credit. …Read More

#AskanExpert: Will Husband Filing Bankruptcy Impact My Credit?

Q. My husband and I have a credit card together. I just found out that he has been using the card and there’s a large amount due. He is filing for bankruptcy. We have no other cards together or other accounts together. I can’t afford to pay the minimum requirement on the card. He has just started the bankruptcy process; I did not file. Do I have any options to …Read More

#AskanExpert: Should I Use My Social Security to Fund My Children’s Retirement?

Q. I have more than enough to fund my retirement and I plan on retiring by age 62. I am considering taking my Social Security payout at age 62 and investing it in fairly aggressive stock funds for each of my two kids. I would like to put it into a trust that wouldn’t allow them to access the money until they are 60 years old to help fund their retirement. …Read More

#AskanExpert: Should I Use a Credit Repair Company to Fix My Credit?

Q. I filed for bankruptcy, but my case was dismissed. It’s been 16 months since the dismissal. While I was protected during the bankruptcy process, all accounts were closed and not sold to collection agencies. Should I hire a credit repair company to help clean up the mess or should I leave it alone? Right now, I only have one account in collections and maybe 10–12 that have late payments.   …Read More

#AskanExpert: My Debt Payment’s Too High, What Can I Do?

Q. I have $27,000 in debt (non-secured signature loans) at $1612/month in payments. I am current on all my bills, but the budget is increasingly difficult to maintain. At my current pace, I won’t be out of debt for 3 years. What can I do?   Dear Reader, Every debt repayment plan requires time, a strong budget and persistence, especially if you want to pay it off quickly. Most successful debt …Read More

#AskanExpert: What is Borrower Defense to Repay and Who Qualifies?

Q. I attended a school and accrued over $22,000 in student loans. I feel that I was misled to believe I was guaranteed to be able to get a job when I graduated. I’ve heard of the borrower defense to repay rule but what is it and who qualifies for student loan forgiveness?   Dear reader, The plan made popular during the Obama administration is most widely known for being …Read More

#AskanExpert: Why is a Home Equity Loan so Hard to Get?

Q. We’ve used our credit cards too much and gotten ourselves into a stressful situation. We make a decent income, but the monthly payments are putting financial strain on our budget. We would like to get a home equity loan to pay off all these cards and just have one payment, but we do not qualify for a new loan due to our debt-to-income ratio. Not too long ago, my …Read More

#AskanExpert: Retiring, $40,000 in Credit Card Debt, No Savings, What Should I Do?

Q. I’m 65 years old and my wife is 59. We’ve got about $40,000 in credit card debt and are planning to pay about 90% of it off with remaining 401k money. We live on a tight budget and will have basically no savings. The cost of living is high where we live and I don’t know what to do. Please help.   Dear reader,   I understand the urgency …Read More

#AskanExpert: Can I Back Out of a Debt Settlement Program?

Q. In March of 2018, I decided to go through a debt settlement program. Big regret! The program they put me on is for 5 years. They have settled with one company thus far and they take their settlement fee off the top which is more than the monthly amount they are paying the creditor. Their method is baffling. I feel I made a bad decision and was wondering if …Read More