I had around a three-hour face to face meeting with Leah and Eric on Saturday. As their adviser, the scariest part of the current situation is that they don’t find it as distressing as I do: Leah is USED to debt and it doesn't bother her. She openly shared that they are in denial.

The meeting was different than what we expected. We focused more on familial upbringing than dealing with the current issues. I am sure that Karen has an agenda that will work for us positively, but as of right now I’m not seeing a bigger picture.

Every Tuesday, we’ll report exactly how much our three families have in their checking accounts -- and what they’re planning to do with it.

Who has $4?

Who has $184.37 and is feeling great?

Who’s caught up and still has $368.70 in pocket?

Click Read More to find out!

Communication with Natasha has pretty much been nonexistent for the last couple of weeks. I've emailed and called, but she often doesn't respond to messages, and we haven't spoken directly or seen each other since our first meeting more than a month ago. I want to help -- but unless we talk, I don't think I can.

I have been thinking of what to focus on with Lori while we wait for a response on her school application. The obvious choice is finding a job. I believe she is already working all the traditional channels, but I am fairly sure Lori would jump at a full time job that was more challenging than the reception/administrative type work she has been doing.

And while Lori has not said this, I do think it is really hard to put yourself 100% behind a job search when you are also pursuing an alternative that might make that effort less valuable, or at least unfocused.

So instead, Lori and I will discuss a plan for doing more social-professional networking & marketing for her freelance business.

Today’s the day. I finished the draft of my writing sample for the master’s program application yesterday and will be polishing it up today and dropping it in the mail. In some ways it feels like a small thing, and in others, it feels like a huge leap. Working on it has confirmed that I’m really looking forward to going to school again, and I really believe it’s the right step for me to take.

Travis Hamel Olsen is president of National Short Sale Center and COO of Loan Resolution Corp., both Scottsdale, AZ-based companies that specialize in short sales. They serve as an intermediary between all the parties -- realtors, sellers, buyers, banks -- during the long, hassle-filled process.

Travis read up on Leah’s case, and had a few things to say:

"Leah has done a good job at being patient and keeping a level head, while going through a very challenging time in her life. It’s never easy to accept that living in the home you own is no longer an option."

I was supposed to have my closing yesterday (Tuesday) but of course it did not go through. The closing was set up by the buyer's team, with the impression that the buyer was good to go, but at 4 p.m. I got a text from my real estate agent informing me that the buyer's bank was holding up the deal.

On the phone, I asked Leah what was outstanding on credit cards. Now that the house is hopefully off their backs, we can start to put together a plan to pay off debt. I started getting really worried as Leah shared the details of her debt. Let's just say it is hard enough for a family to live on the $44,000 a year Eric is now making, let alone trying to put a dent into debt of the magnitude of Leah's and Eric's.

All together, it's over $45,000 -- more than a year's salary!