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Shop-O-Nomics: How the Missing Dollar Sign Makes You Spend More

I’m giving your reading muscles a break today and instead of writing you an article here’s a video based on a study put out by Cornell University in 2009 about the “Effects of Menu-price Formats on Restaurant Checks“. The study suggested that people were more inclined to purchase and spend more if the dollar sign ($) was dropped in front ... Read More »

    Deceptive ‘Credit Card’ Marketers Settle FTC Charges; Cards Were Good Only for Buying ‘Low Pay’ Catalog Merchandise at High Prices

    Ready to Collapse

    As part of its ongoing efforts to stop deceptive marketing, the Federal Trade Commission halted an operation that deceived consumers into paying for bogus credit cards and charged them illegal fees. The marketers behind this operation agreed to a settlement that will halt their illegal tactics and provide money for consumer redress. The FTC reached a settlement with six defendants ... Read More »

      Workers Warned About Company Credit Card Debt

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      Last year, employees charged $140 billion on their company credit cards. If the company goes under or doesn’t pay, the cardholder could be forced to pay the balance. According to RPMG research, 35 percent of corporate cards have individual or joint liability arrangements where the employee is responsible for the debt. Surprisingly, large companies are the most likely to make ... Read More »

        Co-Founder of Shares Details How They Could Revolutionize the Need for Credit Counseling

        Today I spoke to Rod Ebrahimi from has big plans to allow consumers to create a self-directed credit counseling program that will eventually work closely with banks to extend special terms to participating consumers. If they can pull this off they could potentially revolutionize the credit counseling world by providing a web portal to login, create an optimized ... Read More »

          Personal Attacks, Debt Relief Marketing, How to Separate People From Money and More Stuff – Podcast

          Here is this weeks podcast where Damon Day and I talk about a number of debt industry issues including: Personal attacks against articles and stories written. Why some people don’t want consumers to get honest or independent advice. The reason why personal attacks are simply meant to misdirect consumers from hearing a message others don’t want you to hear. We ... Read More »

            The Homeless Project – Part 2 [Video]

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            This is the second video in a series we shot to help get a new perspective on money, credit, and debt problems. I selected a series of questions sent in through the site and we went out and asked some homeless people if they would be willing to participate in this project and share their opinion to help answer ... Read More »

              Money Can Buy Happiness

              For those of you that say money can’t buy happiness. I will tell you today what I’ve said my entire life: I’d like to believe you, but I don’t. The National Academy of Sciences released a research report this past Tuesday that showed people’s happiness and emotional well-being elevated with increasing income levels. The study, supported by the Gallup Organization ... Read More »

                Is This Not The Most Misguided Picture to Put on a Debt Relief Homepage? It Actually Startled Me.

                Shaw & Associates

                I was just checking out the site of Shaw & Associates, a bankruptcy attorney with an alternative to bankruptcy, and this is the picture that hits you smack in the face. Really, green teeth and green eyes? It’s obviously a web designer issue but whoever posted this picture needs to be __________ (you fill in the blank). Here is the ... Read More »

                  Credit Solutions Announces it Will Comply FTC But Tipster Provides Interesting Info

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                  Thanks to an awesome tipster (send in your tips here) I have heard that Credit Solutions held an internal meeting yesterday and announced to staff that the company will comply with the new FTC TSR, effective yesterday. In my opinion I think CSA has a potential issue with their statement: “Amount of time necessary to obtain the represented results: The ... Read More »

                    I Want to Start a Debt Settlement Company But Have Some Questions. – Doyle

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                    This came in through the reader question section of the site but I thought debt relief industry readers would have a lot to share to help Doyle by putting in in the industry section. I’ll leave this one for everyone to offer their feedback and advice to help Doyle. Doyle writes: “Dear Steve, I just came across your site and ... Read More »

                      Elizabeth Warren Meets With Obama

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                      From the Washington Post, rest here. Elizabeth Warren, a popular but polarizing consumer advocate, met with President Barack Obama at the White House Tuesday, adding to speculation she could be named to head a new consumer protection agency. Get Out of Debt Guy – Twitter, G+, Facebook Need More Help? Read More »

                        Want to See How Easy It is to Target Debtors For Ads and Build a “Sucker” List?

                        Debt Leads

                        A tipster (send in your tips here) forwarded me a link for a website that is selling all sorts of data on debtors so debt relief companies can target them with ads of uncertain character. Look at all the ways a debtor can be targeted: Autodialer Leads Internet Leads Credit Bureau Information Daily or Weekly Internet Leads Exclusive Real-Time Internet ... Read More »

                          New Facebook Fan Page Replaces My Big Mistake Last One

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                          For quite some time I had a Facebook fan page linked to the site. But when I created it I really screwed up the page name and typed in this long description, not knowing that’s what the page name would become. My fault. Totally my fault. After trying very unsuccessfully to get some sort of help from Facebook to either ... Read More »

                            Congress Holds Hearing on Financial Literacy

                            Gayle Voyles 1

                            The Honorable Dennis McKinney, Treasurer, State of Kansas U.S. House of Representatives Committee on Financial Services Subcommittee on Oversight and Investigations Representative Moore, Chairman August 24, 2010 Testimony by Kansas State Treasurer Dennis McKinney Good morning Chairman. As Kansas State Treasurer, I believe financial literacy is a national priority. As a result, my office provides a variety of financial literacy ... Read More »

                              FTC Proposes Changes to Fair Credit Reporting Act

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                              The Federal Trade Commission is proposing revisions to the notices that consumer reporting agencies provide to consumers, and to users and furnishers of credit report information under the Fair Credit Reporting Act (FCRA). The FCRA requires the FTC to publish model notices for several forms that must be provided by consumer reporting agencies. The proposed changes are designed to reflect ... Read More »

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