In this episode of Get Out of Debt Guy, Damon Day and I discuss a major problem keeping people stuck in debt: misconceptions. I wrote an article explaining why so many people believe their financial situation will magically fix itself… even when all signs point the other way. We get into the science behind it—how …
I am still amazed when I read uninformed posts about why people are going bankrupt claiming there is no more stigma about bankruptcy. That is not true. People are going bankrupt because creditors are not allowing people to repay their debts with as much enthusiasm as the banks had when the person was borrowing the …
“Dear Damon, My husband and I started our relationship in debt. He had a child and was fighting for custody. We purchased a house and got married and have never truly been out of debt since. We have had waves of good and bad times, as most people do. I have always beleived that things …
So the big bookstore Borders filed for bankruptcy today. It always surprises me that consumers place such stigma on personally filing for bankruptcy but when companies do it they are applauded for doing the right thing to keep the company going. Border president Mike Edwards said, “It has become increasingly clear that in light of …