Category Archives: Debt Articles

Attorneys Have Debt Problems And File Bankruptcy Too

This article was written by my bankruptcy attorney friend Dan Nunley in Oklahoma. It brings up so very good points and Dan said he didn’t mind if I share it with you here. So far this year, I’ve been contacted by three attorneys who are considering filing bankruptcy. I’ve been a bankruptcy lawyer for fifteen [...]

Be Careful if You Use Your Personal Credit Card for Business Purchases

Now that the new CARD Act (Credit Card Accountability, Responsibility and Disclosure Act) has been implemented to prevent unfair interest rate hikes and protect consumers there is a big loophole if you use your personal credit card for business purchases. The problem is that the CARD Act does not apply for business or corporate credit [...]

Freedom Debt Relief Bragging About Being in Forbes. Not So Fast Fellas. Back the Bus Up.

I am constantly accused of targeting this company or that company but in truth I’m so busy writing about the next thing to cross in front of me I don’t have time to have anyone on the radar. I say that because I find myself writing something that involves a company I’ve written about before, [...]

Consumers More Likely to Pay Credit Cards Than Mortgage

From the good folks over at US News & World Report is this interesting article, “Forget the Mortgage, I’m Paying My Credit Card Bill” by Luke Mullins. Amid high unemployment and sliding home prices, a growing number of struggling consumers are doing what was once considered unthinkable: paying their credit card bills instead of their [...]

Rules for Debt Settlement Companies Would Help Protect Consumers

An editorial out of Michigan does a good job of summing up the grassroots feelings of educated consumer activists regarding needed debt settlement regulations. Here is the editorial: Pay off your debts for just pennies on the dollar! One phone call can save you from years of financial misery! Sales pitches like these might sound [...]

Before You Walk Away From Your Mortgage, Read This

Last week I received an email from a desperate couple in Illinois. Here’s the edited version of their note: "My wife and I have been struggling, morally, with what to do. We have two interest-only, adjustable-rate mortgages with two different lenders coming due in May of 2011. I currently can handle paying all my bills–but [...]

Something Not to Do When Feeling Bummed About Your Debt

All I can say is DON’T DO THIS no matter how bad you feel about your debt situation. Get Out of Debt Guy – Twitter, G+, Facebook

Debt Consolidation Lender Has Too Much Money to Lend. Needs Customers.

LendingClub.com just told me that they are backing up with too much money to lend to consumers and are in search of people that are looking for fixed rate, unsecured loans. LendingClub.com is a people-to-people lending network that typically charges lower interest rates than banks and makes the borrowing process automated, online and less scary. [...]

Is the iPad a Debt Worth Having?

The Apple iPad is great device for people to access their “stuff” in new ways without having to lug around a cumbersome laptop or tiny screen netbook. The functionality of the iPad simply adds to the features it brings to ambulation computational demands. But is it worth the price? Not to tip my hat, I’d [...]

PayPal iPhone App Users “Poised to Become the Dominant Species”

As a devote Apple user I can’t say enough good things about their products and especially their tech support, Amazing! But here is a cute ad from PayPal pushing the new iPhone PayPal Bump app that made me laugh. Poll – Vote Now Get Out of Debt Guy – Twitter, G+, Facebook

Irony: Man Scams Prison Inmate And Gets Jail Time

A Stockton, Calif., man who scammed a federal prison inmate in Marion, Ill., was sentenced to 61 months in federal prison on Monday. Michael R. Ussery, 34, pretended to be an informer for the Drug Enforcement Administration and promised another inmate that he could earn a shorter prison sentence by funding undercover drug investigations, prosecutors [...]

Have Consumers Really Learned Not to Spend on Credit Cards? Nope.

I wish I could remember who I was having the conversation with a year ago about consumers will have learned a fundamental lesson about how to manage money as a result of this economic downturn we’ve faced in 2007-2010. My point was that any trend downwards in credit card spending is temporary and if consumers [...]

Watch Out for Calls Promising a Refund of Credit Protection Payments

Be on the look out for an up and coming scam where callers pose as employees of credit card companies and promise you a refund for credit protection insurance you may have paid for. They will ask you for your credit card and banking information in order to process the refund. It’s a scam. Any [...]

Legally Remove Negative Information on Your Credit Report

Well it has happened again. Yet another credit repair organization has fallen under the sledgehammer known as the Federal Trade Commission and you know what, rightfully so, idiot scammers. Wishful consumers desperate for a quick fix to hide accurate but negative items on their credit report are easy prey for credit repair scammers looking to [...]

Failure: The Secret to Success

Here is a nice movie from Honda about about the benefits of failure. Even though this is primarily about motorsports, many of the messages are still very true when it comes to dealing with all sorts of failure in life. And the key benefit of failure is to learn from the mistake and use that [...]