by Scott Bilker
I want to personally thank everyone who has written in with their questions! My job is to find the best ways to save money by better debt management and the only way for me to continue uncovering these methods is for you to ask questions. To ask a questions simply click here.

Equity Used For Down Payment My husband and I want to buy a home being built in a new development. Our present home worth $260,000 has no mortgage except a $30,000 home equity loan. We need about $15,000 down payment for the home being built. Should we open a home-equity line of credit to pay the down payment? If not, where is the best place to get the $15,000?

Collection Company After a 23-Year Old Debt  I received a letter telling me that I owed a debt of $535.73, but, "if I paid $214.00 immediately," they would cancel the debt. I cannot recall owing this debt. It was made, according to the company (I called this AM) in 1980, under my husband's name. I have checked through as many old papers as I have and can't find this debt. When I pay a card off, I always cut it up. I have no cards now, and pay everything by check. Can they collect on a debt this old?

Advanced Cash-Advance Techniques I have a 0% interest card and plenty of balance so it seems like a good idea. Problem is the seller is a private party. Obviously I can't use a convenience check or a cash advance or I'll blow the interest strategy. Is there a way to pay a private party so that it appears as a purchase on the card and not an advance? I have checked out PayPal but I'm not sure the seller is Internet active.

Tricky Insurance Pays Off I found out after renewing a credit card that I had been paying for insurance that I wasn't aware of. This insurance would pay benefits in case I died or became disabled. I had the card since 1997 and became disabled in 1998 (Parkinson's). I called a credit card rep and she advised me to put in a claim. She also stated if there were any other balances to transfer I could transfer them and clear them up also.

So Far In Debt; Can't Seem To Breathe Help please! I am so far in debt and can't seem to breathe. I have 6 credit cards and I am $25,000 in debt. I know you hear this all the time, I have been paying for over 2 years not charging anything and still can't get anywhere. I cut them 2 years ago, and called the companies to ask for a lower rate. They gave me like a year with low interest, and lower payments so my credit reports would not be hurt.

MORE Questions & Answers...