So my friend Damon Day and I have this conversation all the time about how the entire debt world is all bullshit. It’s a very true statement, unfortunately. Until now I wasn’t sure how to broach the subject on the site. What the hell, let’s just jump in deep.
The fact is people who are panicking about their debt are ripe for the picking by people of all walks of life who want to manipulate them for their own reasons. This leaves consumers thinking the person they are talking to is trying to give them the best advice. It’s all bullshit. The truth is 99% of people are just trying to sell something, not be great advisors.
People misguidedly think they can get independent best advice for someone that sells some specific debt intervention product to help them get out of debt.
People are looking for some magic program to make their debt vanish without consequences. It’s all bullshit.
In case I’m not being direct or clear enough here…
It’s All Bullshit
Let’s be real here. Everyone that is selling you anything other than independent advice about what might be best for you is pushing their widget and not taking the greater view of what is best for you.
If you honestly think a commissioned debt relief salesperson is going to tell you the solution they are selling isn’t right for you and direct you to the better option they don’t make money selling, you are deluding yourself.
This is why credit counselors hate debt settlement people, debt settlement people hate credit counselors, and they all hate bankruptcy attorneys.
Everyone, including the majority of nonprofit credit counselors are just trying to push their widget and make the sale. I don’t give a damn what people will say in public, in private they confide it’s all about the money. It’s all bullshit.
Debt settlement companies keep jamming anyone with a pulse into extended repayment programs that destroy retirement savings and set people up for getting sued because they are trying to sell the program and make the sale. It’s all bullshit.
“Our program is perfect for you and the best choice,” said the debt relief sales person.
You want to know why that’s the case? It’s because you called.
Mortgage modification companies and sue your lender “law firms” want you to spend thousands to buy their package, not because you will actually win, but because they want to make money. It’s all bullshit.
Credit repair companies want to sell you packages to remove bad credit and dispute items on your credit report. Something you can easily do yourself. But they don’t tell you that. It’s all bullshit.
Student loan assistance companies want you to pay them monthly for something you can do yourself for free. And you know why by now don’t you. Yep, it’s all bullshit.
And even some bankruptcy attorneys actually push people into a chapter 13 bankruptcy which will take five years because they can finance their bankruptcy fee and do a no money down deal. Yes, there is bullshit in bankruptcy as well.
Make Them Feel Guilty to Close the Deal
Sellers of debt help pile on the “moral” or religious argument that people have a responsibility to repay their debt. In fact most of the time it is the least moral thing to do for their future. They just guilt you into feeling like that is a higher road to sell their solution. It’s all bullshit.
Dave Ramsey lies about credit cards and bankruptcy because it feeds his schtick, not because it is real or logical. It’s bullshit.
Debt settlement salespeople will just make up monthly payments to close the deal once they’ve convinced people it’s a “good thing” to repay their debt.
“But I can’t afford $450 a month.”
“How about $380 a month then?”
It’s all bullshit.
Don’t believe me yet, Listen to this actual conversation I had with a debt relief sales person.
Get the Best Bullshit Protection
The best protection you can have from getting screwed when getting out of debt is education and logic. You need to stop and learn about the realities of dealing with debt and investigate all of the options to make an educated decision that’s best for you. Stop relying on someone else that just wants to sell you their widget.
There is no other way to protect people from getting scammed, ripped off, or harmed other then having the individual play an active role in dealing with your debt.
Unless you start to learn the truth about getting out of debt you are participating in the world of bullshit and whatever outcome you get is partly on your shoulders as well. Don’t invite bullshit. “Please sir, may I have some more?”
You can’t delegate logic and responsibility to others that have a financial interest in selling you anything.
I’m not even saying you need to agree with my point of view and advice I offer on how to get out of debt. You don’t have to follow everything that I say but you should at least listen to help protect yourself from the massive world of bullshit that is about to rain down on you.
Be educated, be smart, actively participate, ask questions, check the facts, and play a part in making choices that are best for you and your family.
If you don’t, you know what you’ll get? Yep, bullshit. And lots of it.
If you have a credit or debt question you’d like to ask just use the online form. I’m happy to help you totally for free.Dealing With Debt - It's All Bullshit by Steve Rhode