Question: I went to Culinary School not realizing my student loans would cost me around $1,000 a Month. We had to file a Chapter 13 bankruptcy to hold them off for 5 years, but I will still be hurting when it is over and Sallie Mae will not even consolidate the loans anymore. I am […]
Dealing with Student Loans After Bankruptcy Read More »
This is, unfortunately, a bad case of identity theft. You need to protect yourself and your son in a number of ways, starting by pulling your most recent credit reports, examining them for any other accounts that you may not know about, and then putting a credit freeze on your credit reports. Read this article for more information about how a credit freeze can protect your credit rating.
Removing False Medical Claims From Your Credit Report Read More »
Q: I am at month 11 of a student loan rehabilitation program for a defaulted loan of about $80,000. I have made 10 on time monthly payments of $550. My parents will help me offer a lump sum payment to settle this debt. I am looking at offering $30,000 to $40,000. The collection agency wants
Can I Offer A Settlement For A Defaulted Student Loan? Read More »
Q: I am a medical student. I have a total of around $300,000 in student loan debt taken out in both Stafford and Grad Plus Loans at around 6.5% and 7.5% respectively. I now have to complete a residency. Is student loan consolidation my best option? Also, where might I be able to refinance at
Can I Refinance My Student Loan Debt? Read More »
Q: Is it true that I will be given a 1099-c when I settle a debt for $600 or more off the amount that was due? If so exactly what does this mean? What is the tax percentage I will be charged? Is there a tax penalty fee for this? And will this increase my
Will I Receive Form 1099-C If I Settle A Debt? Read More »
Q: I have a recent outstanding debt on my credit report. When I settle it, can the collection agency state as part of their negotiation that they will also remove it from my credit report? A: If you agree to a settlement with an original creditor or with a collection agency, they can do anything
Q: I feel obligated to settle my old debts. If I settle a really old debt that has been deleted from my credit reports, does that reactivate the debt and put it back on my credit report? A: Depending on the type of debt in question and what the creditor or collection agency does with
Should You Pay Old Debts? Read More »
Q: I have no credit card because I got into financial trouble a few years ago. I am starting to rebuild my credit and I am interested in applying for a credit card. I am scared of making that decision. I do get mailings from a card company asking me to sign up. I’m completing
I’m Scared To Open A New Credit Card Account. Help Me Money Coach! Read More »
Q: I have $33,000 worth of unsecured credit card debt. I’m not late on any payments, but I am living paycheck to paycheck. What’s the best way to clear my debt? Should I refinance my house or consider a debt consolidation company. A: I don’t think going to a debt consolidation company is the best strategy.
I Am Living Paycheck to Paycheck. What’s the Best Way to Clear My Debt? Read More »
Q: How Can I Re-Establish Credit With Bad Credit? No One Will Give Me a Credit Card. A: To re-establish credit after you’ve had credit problems in the past, try these three strategies: 1. Open a Secured Card. With a secured card, you put up a certain amount of cash into an account – perhaps
How Can I Re-Establish Credit With Bad Credit? No One Will Give Me a Credit Card. Read More »
Q: What is the best way to save money and get a good return on it? A: I recently wrote the following article that answers your question about saving money and getting a good return on it. Here is the article: Three Ways to Save More Money By Getting Paid to Save Everyone wants to
What is the Best Way to Save Money and Get a Good Return on it? Read More »
Q: Should I roll over $30,000 in my traditional IRA account into a ROTH IRA? I am 50 years old. A: Although the earnings in both types of retirement accounts grow tax-deferred, for longer-term financial planning, I like the benefits of the ROTH IRA over the Traditional IRA. Additionally, recent changes governing IRAs make it more financially
Should I Roll Over My IRA Account into a ROTH IRA? Read More »
A subscriber to Ask The Money Coach.com wants to know if it is okay to close a secured credit card account he recently opened since he can get a new, regular card from Capital One. Click now to hear Lynnette’s answer.
Many of you have asked for a copy of the “I Debticate Myself to Being Debt Free Worksheet” which first appeared in the first edition of Zero Debt: The Ultimate Guide to Financial Freedom. Here is a copy that you can download to your computer, along with a few of the other forms that are
I Debticate Myself To Being Debt Free Worksheet Read More »
A subscriber wants to know if they should consider Debt Settlement as an option?
Is Debt Settlement Right For You? Read More »
