Latest Posts
Home > Debt Articles (page 31)

Debt Articles

Those With Cancer Nearly Three Times More Likely to File for Bankruptcy

Cancer patient versus non-cancer patient filing rates.

A recent study found adults diagnosed with cancer are 2.65 times more likely to file for bankruptcy while bankruptcy filings are as much as five times higher among your cancer patients. According to the study, led by Scott Ramsey, MD, PhD, an internist and health economist at the Fred Hutchinson Cancer Research Center in Seattle, Washington, between 1995 and 2009 ... Read More »

    Consumers Defaulting Less on Debt Says New Data

    Screen Shot 2013-05-21 at 11.18.10 AM

    New data out from S*P and Experian says consumers are doing a better job paying their bills. The national composite of consumer defaults hit its post-recession low of 1.42% in April, down from 1.50% in March. The first mortgage default rate moved down to 1.31% in April from 1.41% in March. The auto loan default rate posted a 1.07% rate ... Read More »

      Student Debt Kills Dreams

      college-class

      The amount outstanding on student loan debt continues to increase past the point it blew the roof off how much people owe on all credit card debt. Imagine, people owe more in student loan debt which is nearly generational debt. In most cases it can’t be discharged in bankruptcy and with parents and grandparents co-signing for some of these loans ... Read More »

        Sinbad Files Chapter 7 Bankruptcy. Will Keep F-150 Pickup Truck.

        Sinbad

        The comedian Sinbad recently filed for Chapter 7 bankruptcy protection. Hey, it happens to even the famous among us. Money troubles are not limited to the infamous. They happen to many of all walks of life. According to documents received, Sinbad (David Adkins) has liabilities of $10,991,715 and assets of $131,126. While there may be some areas of his life ... Read More »

          Up Next: How to Increase Your Income

          garage sale

          This is a guest post from Philip Taylor, founder and editor-in-chief of PT Money: Personal Finance. Learning about and applying the rules for living a frugal lifestyle are common principles in the area of personal finance. Controlling your budget and spending less can certainly help you avoid the cycle of debt. And that’s a great thing! But there’s a point ... Read More »

            Get Out of Debt Guy Support Group First Virtual Meeting

            Google Hangout

            We made it through the first virtual debt support group meeting on Google Hangout. As expected, attendance was light, but the technology test went fine and the concept show a lot of promise for future meetings. Michael Bovee and I spent quite a bit of time talking about debt and religion, Jesus, spirituality, tithing, student loan debt, using bankruptcy to ... Read More »

              Mass Joinder Leader Mitchell Stein Found Guilty and Behind Bars for Years

              mans hands behind bars in jail or prison

              A tipster just let me know that Mitchell Stein, the California attorney who was leading the charge selling consumers access to lawsuits to sue their lenders in a mass joinder action, was taken into custody today in court when he was found guilty on 14 counts in Florida today. Here is what the tipster said, “Mitchell J. Stein (Spire Law ... Read More »

                FTC Catches Bogus Tech Support Scam and Then Finds a Debt Relief Company

                fist

                The Federal Trade Commission announced a settlement over a bogus tech support service and accidentally found a debt relief company that was violating the Telemarketing Sales Rules in the process. Mikael Marczak, doing business as Virtual PC Solutions, and Sanjay Agarwalla were among the subjects of a series of six complaints filed by the FTC last September as part of ... Read More »

                  3 Car Buying Financial Potholes to Avoid

                  buying car

                  Buying a car is a very expensive proposition. Besides buying a home – buying a car or truck is typically the second largest asset people purchase. And those car payments can really add up to a budget buster if you are not careful. There is no need to wind up paying more than you have to. When going to buy ... Read More »

                    Get a Free Friends and Family Health Kit

                    free

                    Okay, I admit this might not be the best freebie in the world but apparently the government wants to spend money sending out publications and information to help people deal with medical issues. What can I say, besides it’s a freebie and it looks like it’s for the ladies. The pitch to order these publications says “Now, you can help ... Read More »

                      Best Debt Consolidation Loans

                      Happy people celebrating with money raining

                      Finding a legitimate debt consolidation loan program can be frustrating, depressing and darn near impossible. We’ve all seen the advertisements promising loans for people with bad credit or loans with no credit check. In my experience those companies are often high priced, that is if you actually get a debt consolidation loan and not get ripped off. Many Debt Consolidation ... Read More »

                        You Have Not Failed if You File Bankruptcy

                        What I most want you to do when facing bankruptcy is to stop assuming or reacting emotionally and start thinking logically.

                        A frequent and quiet chorus says people who file bankruptcy have failed in some way, but let’s set the record straight on that myth. It’s not true. Bankruptcy is the law of the land in many countries. It allows people otherwise tightly gripped by unmanageable debt to find a way to break free of an otherwise impossible situation. Bankruptcy is ... Read More »

                          IRS Form 982 is Your Friend if You Got a 1099-C

                          IRS Form 982

                          Just because you got a 1099-C form from forgiven debt is not a reason to immediately panic and think you are automatically going to owe a lot of taxes on the forgiven debt. In the debt world a point of contention for me is the chronic misinformation about forgiven debt from debt settlement or a debt determined to be uncollectible. ... Read More »

                            Taxes May Be Due on Mortgage Settlement Checks. Slap!

                            repost-us-image-5721398

                            Double Whammy: Mortgage Settlement Payments Will Be Taxed (via Credit.com) If you are one of the more than 1.8 million people who have received a check from the Independent Foreclosure Review (IFR) settlement — or if you have one coming — don’t spend it all in one place. These payments are considered taxable income for state and federal income tax ... Read More »

                              The Role Credit Counseling Plays in Debt Relief

                              Decision time

                              The following is a guest post. And while I personally might not agree with some of the points of view, I think it is important for people to hear from different sides. Given what I think is going to be an exploding retirement crisis I am now more convinced that for those near or over 50 with little to no ... Read More »

                                Get My FREE Get Out of Debt Guy Newsletter

                                It is the smart thing to do.

                                I promise to keep your email safe and secure.

                                Close

                                I want to keep you posted each weekday with just one email about the latest get out of debt news, scam alerts and information to beat back debt.

                                You can unsubscribe at any time with just one click.

                                After you subscribe, check your email to confirm your subscription. If the confirmation email does not appear in your inbox in a few minutes, check your spam folder for it. Sometimes it likes to annoyingly hide there.


                                • It will keep you posted on the latest scams.
                                • You will be alerted to the latest articles.
                                • You will wind up smarter than everyone else dealing with debt.