Staff Writer
Bill Fay
Bill “No Pay” Fay has lived a meager financial existence his entire life. He started writing/bragging about it in 2012, helping birth Debt.org into existence as the site’s original “Frugal Man.” Prior to that, he spent more than 30 years covering the high finance world of college and professional sports for major publications, including the Associated Press, New York Times and Sports Illustrated. His interest in sports has waned some, but he is as passionate as ever about not reaching for his wallet. Bill can be reached at [email protected].
When you are unemployed, your life changes radically – professionally, psychologically and financially. Bills you paid regularly every month continue to come in, but your income has been severely compromised.…
Choose Your Debt Amount Chapter 7 bankruptcy is a “second chance” to regain control of your finances by having most of your unsecured debt, including credit card debt, medical bills, and…
The time to file bankruptcy arrives when every other method of debt relief has failed, and you still can’t pay your bills. Nobody wants to file bankruptcy, but the unfortunate…
[mlrates] What is a Mortgage Rate? A mortgage rate is the rate of interest charged on by a mortgage lender. Mortgage interest is included in a home loan’s monthly payment.…
Types of Consumer Credit & Loans Consumer loans and credit are a form of financing that make it possible to purchase high-priced items you can’t pay cash for today. Banks, credit…
Once in a while, situations arise in which you might need a substantial chunk of extra money, but don’t have substantial collateral – house, car, property of some kind –…
Debt Relief and Reduction Debt is an unfortunate fact of life for many Americans. Taking on debt — or borrowing money that you promise to pay back — doesn’t necessarily…
It was a dark and stormy night. Then things got really interesting when a tree blew over and crashed into my emergency fund … I mean my house. The night…
Amid all the cautionary advice to students about not borrowing too much to pay for college, one bit of good news can go unnoticed: Interest paid on student loans is…
To get a good deal on a refinance, consumers need to do their research, shop around for a lender and ask questions before committing to a new mortgage. Here are…
The Income-Contingent Repayment Plan is one of the relief options available to student loan borrowers struggling to keep up with payments. There are no income hardship requirements, which means anyone…
The Free Application for Federal Student Aid – far better known as FAFSA – is an open invitation from the federal government to find out if you qualify for federal…
New government regulations and consumer protection laws force mortgage lenders to make a good-faith effort to be sure home buyers actually qualify for the home loan they’re seeking. That means…
What is a Reverse Mortgage? A reverse mortgage is a type of home loan that lets you convert a portion of the equity in your house into cash. With regular…
Who Should File Chapter 13 Bankruptcy?! Many people think of bankruptcy court as the final stop on a path to financial ruin, the only option left when repaying debts seems…
So you’ve finally found the home of your dreams. It has everything you ever want, but the seller wants something from you: Proof your eyes aren’t bigger than your bank…
How To Choose A Bankruptcy Lawyer So, you’re in deep financial trouble. Behind on mortgage, car and student loan payments. Already maxed out six credit cards and headed that way…
How Much Does Bankruptcy Cost? Filing for bankruptcy helps consumers and businesses get rid of their debts, repay their creditors and get a fresh start on their finances. But it costs money…
Debt consolidation is a sensible solution for consumers overwhelmed by credit card debt. It can be done with or without a loan. Consolidation cuts costs by lowering the interest…
With a nod to Mark Twain, inflation has replaced the weather as the thing everyone talks about it, but nobody seems to do anything about it. Until now. Not that…
America has turned into a nation of quitters, though that’s not necessarily a bad thing. Spurred by the COVID pandemic, millions of people have joined “The Great Resignation” that’s happening…
The rules governing repayment of federal student loans contain so many nooks and crannies that it shouldn’t come as a surprise that you may have missed one created during the…
The average Joe – not Biden – figures to benefit most from passage of the $1.9 trillion American Rescue Plan. Approximately 145 million Americans will receive a third round of…
Biden wants the minimum wage – currently set at $7.25 an hour – to jump to $15 an hour by 2025. The increases would be phased in at approximately $1.75…
President-elect Joe Biden unveiled the American Rescue Plan, a $1.9 trillion war on the prolonged suffering of Americans hardest hit by coronavirus. Included in his proposal: a fresh round of…
The second COVID-19 relief bill is now law – all 3,126 pages of it. The people in Congress who passed it admit they don’t know what all is in it,…
If you haven’t looked at your bank account this week, now might be a splendid time. The long wait for a second stimulus check from the U.S. government finally is…
A second stimulus check – the financial gift from the U.S. government to help consumers recover from the economic belt coronavirus gave the American economy – needs only a signature…
If the biggest employee benefit you receive is when your company bothers to fill the toilet paper rolls in the employee bathroom, you might not want to read this: Google…
If you are paying on a federal student loan, you probably already know that the government CARES Act has provided benefits that suspends payment and interest requirements through May 1,…
Americans with student loan debt have a $1.6 trillion question on their minds: What would President Trump or a President Biden do about all that money these 45 million borrowers…
There hasn’t been much good economic news in 2020, but if you’re buried in student loans, there was an astoundingly positive development recently. Thanks to a recent court ruling, you…
The COVID-19 pandemic has created record unemployment, erased profit margins, closed businesses and wreaked havoc on almost every family’s money outlook. It has even affected America’s ultimate get-out-of-jail financial symbol…
Veterans indebted to the Department of Veterans Affairs won a partial payment reprieve this summer that will last at least through the end of 2020. The VA action extends a…
Dorothy surely wasn’t thinking of life in a COVID-19 pandemic when she clicked those heels in the “Wizard of Oz” and opined that ‘there’s no place like home.’ But her…
Congress and the White House are still debating whether the HEALS Act, HEROES Act – or some compromise Act in between – will deliver the next round of coronavirus relief…
When the House of Representative passed the $3-trillion HEROES Act on May 15, it all but guaranteed that a second stimulus check would arrive for Americans in need of financial help…
The storm is coming. American consumers will be filing personal bankruptcies in record numbers by the end of 2020. That is the projection from bankruptcy attorneys, bankers and other experts…
The phrase “stimulus check” is second only to “coronavirus” or “COVID-19” as something to talk about these days and people are definitely talking. About 159 million Americans have received the…