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Get Out of Debt Guy Meetup Group. It’s Free! – Info / Join

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I’ve started a new free outreach through Meetup.com and have created both a local and virtual support group meeting. There is no charge to participate and no products or services are sold. This is just an opportunity for me to help people in person and online through our virtual meeting. You Are Not Alone No matter what debt situation you ... Read More »

    Nonprofit Mpowered Appears to Mislead Consumers

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    A Facebook friend brought Mpowered to my attention and asked me about them. Mpowered was formerly Community Credit Counseling Services and is located in Colorado. The person wanted to know what I thought of their program. Since I have no personal knowledge about the solutions they offer I had to go to their website and rely on what they have ... Read More »

      How Debt Settlement Employees Can Avoid Long Jail Time

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      Yesterday a U.S. Attorney announced criminal charges against debt settlement company owners and employees for fraudulently selling debt relief services to consumers in financial trouble. The Indictment laid out a pattern of activity that many inside debt settlement companies will recognize, if they swivel their chair around. Sadly, what has been assumed to be the normal way to run a ... Read More »

        The Future of Credit Cards

        Credit cards

        The Future of Credit Cards (via Credit.com) At a recent conference devoted to travel and credit card rewards, executives from Chase, Barclaycard, US Bank, Capital One and American Express were on hand to share their views on the future of credit cards — and there was a broad consensus on where the industry is going in the next few years. ... Read More »

          Debt Settlement Company and Employees Criminally Charged in Fraud.

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          Today the Manhattan U.S. Attorney filed a criminal indictment against Mission Settlement Agency, Mission Abstract, LLC, Alpha Debt Settlement, Michael Levitis, Denis Kurlyand, Boris Schulman, Manuel Cruz, and James Leon. The criminal indictment filed should be of interest to many that were or still are in the advance fee debt settlement business. The activities described in the indictment sound very ... Read More »

            Debt Settlement Attorneys Named in CFPB Action. Some Criminally Charged.

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            Today the Consumer Financial Protection Bureau and the Manhattan U.S. Attorney both announced legal action against a number of individuals. This action seems to cast a bright light into the dark closet of debt settlement activities that have harmed consumers for a number of years. What makes this case new and unique is the extensive action taken by the U.S. ... Read More »

              Credit Report Data Broker Leaks a Concern for FTC

              Big Bad Burglar

              The Federal Trade Commission sent letters to ten data broker companies warning that their practices could violate the Fair Credit Reporting Act (FCRA) after a test-shopping operation by the FTC indicated the companies were willing to sell consumer information without abiding by FCRA requirements. The test-shopping operation was part of a worldwide privacy protection effort. FTC staff members posed as ... Read More »

                How to Get Out of Debt. The Real Truth.

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                People ask me questions every single day about how to get out of debt. Problem debt is a chronic problem that faces many at any one time. If you are facing debt, you are not alone. Normally the worry of debt is hidden by the perception everything this is alright. If there is no stress, fear or worry, there is ... Read More »

                  New York: Great Pizza, Bagels… & Debt Collection Laws?

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                  New York: Great Pizza, Bagels… & Debt Collection Laws? (via Credit.com) Personal financial challenges can be daunting. Struggling to pay bills is tasking enough, but when you throw in having to deal with aggressive debt collector calls, letters, even legal actions, it can become overwhelming, and often confusing. Federal and state laws regarding how debts can legitimately… Read More »

                    Dealing With Debt – It’s All Bullshit

                    it's all bullshit

                    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 ... Read More »

                      Have Consumers Really Learned a Lesson About Debt?

                      consumer debt levels

                      A recent publication out from the Federal Reserve appears to indicate consumers have learned to cut back on debt, at least for now. The reduction might be to a number of events and not just the sudden realization that too much debt is problematic. For example, people may be feeling less confident about the future and that’s driving their spending. ... Read More »

                        How to Discharge Your Student Loans if You Are in the Military, Police, or Teacher

                        How-To

                        More and more at GetOutOfDebt.org we are getting questions about how to get your student loans eliminated, forgiven, or discharged if you are in or served in the military, police officer, teacher, librarian, or other public service employee. It is absurdly ironic that members of the military can go into harms way, fight in combat and yet return back home ... Read More »

                          AFCC Releases Report Praising Debt Settlement But There Are Big Holes

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                          The American Fair credit Council (AFCC) recently released a couple of documents they hoped would persuade people about the value of debt settlement. I was asked to review the findings in the documents and offer my opinion. The first presentation is one that was supposedly given to the Federal Trade Commission and Consumer Financial Protection Bureau, at least judging from ... Read More »

                            How Getting Out of Debt Can Hurt Your Credit

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                            How Getting Out of Debt Can Hurt Your Credit (via Credit.com) A common concern you may have when searching for the best debt relief solution is how it will impact your credit score.There are many misconceptions about credit reports and the harm that comes from credit counseling, settling debt for less than what you owe and bankruptcy. Your credit report ... Read More »

                              Bankruptcy Filings Drop Ending March, 2013. Less Need for Debt Help.

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                              The latest bankruptcy filing numbers are out for the twelve month period ending March, 2013. In March there were 804,885 chapter 7 bankruptcy filings and 355,081 chapter 13 filings. For a total of 1,159,966. In comparison, in the twelve month period that ended March, 2012 there were 958,757 chapter 7 bankruptcy filings and 396,175 chapter 13 bankruptcy filings. For a ... Read More »

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