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The Get Out of Debt Guy 8 Easy Steps to Eliminate Your Debt Checklist

money

So you want to get out of debt. Congratulations. To make your journey easier and to help you on your way, here is an easy to follow checklist to guide you on your journey. Getting out of debt can be broken down into some very simple steps to make the process easy, obvious, and help you to do it yourself. ... Read More »

    Student Loan Debt by Generation. Sorry Gen X and Millennials.

    student loan debt

    Here is a nifty infographic showing the generational difference and growing danger of student loan debt. Looks like Generation X, those born between 1965 and 1984 is sinking fast. But more Millennials are loaded up with debt than any other generation. And this is what an unfolding crisis looks like. Read More »

      CFPB Suit Against Debt Relief Company Should Make Industry Very Afraid

      Boom goes the dynamite.

      Yesterday the Consumer Financial Protection Bureau filed suit against American Debt Settlement Solutions, Inc. and Michael DiPanni. If you are in the debt relief industry you need to become painfully familiar with this suit because it will make you soil your pants. For the first time the CFPB has laid out its hand on what they feel is an abusive ... Read More »

        All About Buy Here – Pay Here Vehicle Financing

        Cheerful female driver huging her new car

        In-house financing car dealerships provide car loan options to customers and facilitate the purchase of a vehicle. There are a number of things you should watch out for and understand before signing loan agreements at a dealership. Advantages of In-House Financing The primary advantages of in-house financing with an auto dealership directly apply to people whom outside lenders may consider ... Read More »

          The Saddest Avoidable Mistake People Make When Getting Out of Debt

          Every day wasted is money wasted. Make the tough choices young so you don't wind up broke, old, sick, and counting pennies.

          It is painful for me to watch people make the same ignorant and stupid mistake time and time again when getting out of debt. And what is the number on mistake that screws up their financial future in an effort to repair their financial past? Keep reading to find out. People make all sorts of emotional decisions when faced with ... Read More »

            Everything You Always Wanted and Needed to Know About Bankruptcy

            future

            Below is my growing list of bankruptcy resources and links. If there is something that’s not addressed in one of those articles, guides, then feel free to ask me your question. Bankruptcy Articles and Posts You Must Read Click Here to Find a Bankruptcy Attorney in Your Area To get ready to read the information below with the right frame ... Read More »

              Homeowner’s Relief Line Commercial – Caution

              IMG_0163-private

              Yesterday I spotted a new debt relief commercial on television for some company that claimed to be Homeowner’s Relief Line. The commercial made all sorts of claims about saving your home from foreclosure, helping with loan modification and giving the impression the consumer is the victim. In general and in my experience, these types of commercials are funnels for people ... Read More »

                Student Loan Interest Rates to Double and Might Go Variable

                surprise

                If Congress does not take action the rate subsidized student loan holders pay will double July 1, 2013 from 3.4% to 6.8%. Student loan interest rates have been set by Congress and kept artificially low as a way to encourage education. But a vote in the House yesterday about a Republican proposal is set to have some very dangerous and ... Read More »

                  World Law Debt, Global Client Solutions and Others Sued in NC. TRO.

                  Screen Shot 2013-05-23 at 3.41.13 PM

                  Yesterday the State of North Carolina and the North Carolina State Bar filed suit against Swift Rock Financial, World Law Debt, World Law Group, Orion Processing, World Law Processing, Derin Scott, and Global Client Solutions. This suit is different than many others I’ve seen in that it is a joint effort by both the State Bar and the Attorney General. ... Read More »

                    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 »

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