“If you’re broke, why does everything cost more?”Because the system wasn’t built to help you escape—it was built to profit while you’re stuck. Most people think being broke means you just have less money. But the truth is, when you’re broke, you don’t just have less—you pay more. More in late fees. More in interest. …
In this episode of the Get Out of Debt Guy Podcast, Steve and Damon dive into the mind-boggling world of financing your fries. That’s right—DoorDash is now letting you pay for takeout in installments with Klarna. Sounds convenient… but is it a clever trick or a financial trap? From missed payments tanking your credit score …
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 …
Ever looked at an apple and thought, “That’s red,” only to realize that color is just your brain interpreting light waves? Wild, right? Well, your perception of debt works the same way. What you think is happening with your money isn’t always what’s actually happening—and that disconnect can cost you big time. The Reality Filter: …
Question: Dear Steve, I am deeply in debt and need advice about my best option. Do you recommend Damon Day as a debt advisor? Leonora Answer: Dear Leonora, Damon is one of the few exceptional people I know who offer special assistance to people struggling with debt problems. The short answer is I do recommend …
Question: Dear Steve, I have a Parent Plus loan w/ a $500/mo regular payments, not income-driven or whatever. I have about $2800 in credit card debt. I think I’m putting approximately only $300-400/mo into retirement savings which started at nothing three years ago. I want to increase that amount, of course. I was unexpectedly laid …
Question: Dear Steve, I have worked with Damon Day for a year, and he finally got me a solution with Navient for my student loans. It was unbelievable, too good to be true. I have given 5,000 as a down payment tomorrow to Navient, and I’m terrified. But Damon Day is for real, isn’t he? …
Question: Dear Steve, I have been talking to Damon Day…great guy, by the way….about my debt situation. I have about $55000 in unsecured personal loan/credit card debt. He said not to go with any negotiation companies but that my goal should be to try to file Chapter 7. But between my husband’s income and my …
Last week I had the pleasure of attending the personal finance write conference, FinCon. The meeting was held in a very hot and muggy Orlando. Nearly 2,000 writers showed up for a whole bunch of sessions and presentations. I left the conference with a few observations and realizations. The first is there are a lot …
When a person is struggling with debt and looking for outside help from a company or person, they should certainly have risks and rewards disclosed to them. Ideally, the disclosures would help a person to best evaluate which direction to take for help, and who to trust. A recent article by Elisabeth Rosenthal in the …