Recent Posts
February 16th, 2011

Q: Is it a good idea to make use of refund anticipation loans when filing taxes? What’s the big deal? A: A refund anticipation loan (“RAL”) is a short-term loan backed by your tax refund. And it’s a bad idea because of all the fees involved. The loan lasts only until your refund arrives, which […]

February 14th, 2011

Q: I am a homeowner thinking of getting our home into a short sale. I need a list of reputable companies who may well assist me with this process. Lake Forest, CA A: I’m so glad you asked about reputable companies, because there are so many scams out there for homeowners who need to sell […]

February 10th, 2011

Q: Now that it’s tax season, are there certain scams to be on the lookout for? A: Every year, the Internal Revenue Service issues warnings to taxpayers about tax scams. You would think the warnings weren’t necessary as people become savvier, but the scams keep coming. The most common tax scam is executed in what’s […]

February 7th, 2011

Q: My husband and I are in debt due to his previous foreclosure, and we both have school loan debt–his from many years ago, that he is paying off now; and I finished undergrad school last year. I lost my job in June of last year and have not found a job. I have searched […]

February 3rd, 2011

Q: I have some medical school debt. It’s not significant compared to many, but one of the companies is threatening legal action and refusing to even consider accepting a plan to pay the debt. What are my options? Thornton, CO A: As you are finding out, student loan debt, which is the same as debt […]

January 31st, 2011

Q: My husband and I have been working really hard the last couple of years to get out of debt. Most of our cards are cut up, and we haven’t used them in a very long time. I have been enrolled in a credit counseling agency since September 2009. We pay $69 per month just […]

January 27th, 2011

Q: I have an estimated $40,000 worth of student loan and federal tax debt. My annual income is around $42,000. One of my dreams is to be debt-free by age 49. I am 46. What would you suggest to meet this goal? I also have custody of my two grandchildren, ages 6 and 2. Ronny, […]

January 24th, 2011

Q: I currently have an upside down car loan. I owe $13,000 dollars on a car worth approximately $3,000. I am currently two months behind on my car payments and wondered what could be done to get me out of the loan or deficiency that would come from repo. Waynesfield, OH A: Normally, I might […]

January 20th, 2011

Q: Credit card companies have regulations they must comply with when offering special payment plans. So, why do the options differ between companies, if they all have to abide by the same rules? Roseville, MN A: I’m afraid you are mistaken about any regulations that require credit card companies to offer the same type of […]

January 17th, 2011

Q: When does it make sense to declare bankruptcy? I make approximately $50,000 a year and own my own home, but owe over $50,000 in unsecured debt. I am behind in most of those accounts. Some are in collections. I’ve tried negotiating lower interest rates but, since I’ve ruined my credit rating, the credit card […]

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