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].

Man filling out form for bankruptcy

Chapter 11 Bankruptcy

By Bill Fay | October 5, 2018

Chapter 11 is the section of the bankruptcy code that allows businesses to reorganize their debts and typically involves large sums of money. Individuals can also use it, though they…

Medical debt consolidation form surrounded by calculator, money and medicine

How to Consolidate Medical Bills

By Bill Fay | October 1, 2018

With millions of Americans out of work, their healthcare options dwindling and the COVID-19 pandemic causing the economy to plummet, medical bills could be piling up. A Salary Finance survey…

Surgery is very expensive, but how has inflation affected the price?

Hospital and Surgery Costs

By Bill Fay | September 27, 2018

Total health care spending in America went over $4 trillion in 2020 and more than 30% of that – or about $1.24 trillion – was spent on hospital services. Hospital…

Debt relief program with papers and calculator

How Do Debt Relief Programs Work

By Bill Fay | September 24, 2018

Debt relief programs offer consumers a fair and workable way out of financial problems. The programs help consumers make payments they can afford, while simultaneously reducing and eventually eliminating the…

Two men exchanging money in peer to peer lending

Peer-to-Peer Lending

By Bill Fay | September 21, 2018

For peer-to-peer lenders, the Great Recession was manna from heaven. When banks clamped down on lending to all but their best-heeled customers after the 2008 global economic meltdown, fledgling peer-to-peer…

Woman holding credit card with security overlay and word Protected

The Federal Consumer Credit Protection Act & How it Protects You

By Bill Fay | September 21, 2018

Consumer rights sound like it would be a given in America, but it wasn’t until the 1960’s that the government first acted to protect consumers. It started with the Consumer…

Two white direction signs with arrows and the words medicare and medicaid

Medicaid Costs & Coverage

By Bill Fay | September 19, 2018

While the high cost of health care in America is a source of heated and enduring debate among politicians, policy wonks and cable news talking heads, most of us just…

Tax date and calculator with money on a table

Tax Debt Relief

By Bill Fay | September 13, 2018

Of all the debts you can possibly owe, federal tax debt surely is the scariest. After all, Washington’s power to collect is virtually limitless. Plus, bringing taxpayers into compliance can…

Hacker thief trying to steal your identity

What is Identity Theft?

By Bill Fay | September 13, 2018

  Identity theft is the fastest-growing crime in America for the very obvious reason that most of us have made our most valuable personal information — name, address, social security number,…

Premiums are the primary source of revenue for insurance providers, which, in order to make a profit, must take in more money in premium payments than they pay out in benefits

Health Insurance Premiums, Deductibles, Copays and Coinsurance

By Bill Fay | September 11, 2018

Health insurance costs continue to soar in the United States, far surpassing the overall inflation rate. Most Americans younger than 65 rely on employer-subsidized policies to cover medical costs, even…

Soldiers Walking

Military & Veteran Debt Relief Options

By Bill Fay | August 22, 2018

Choose Your Debt Amount Call Now: (877) 764-5798 – OR – Continue Online VETERANS IN THE U.S. 0 Million UNEMPLOYED VETERANS 0 HOMELESS VETERANS 0 Debt Solutions for Veterans Frequent…

Illustration of Payday loans and lenders

Payday Lenders and Loans

By Bill Fay | August 22, 2018

Want to guess at a community’s financial health? Abandoned houses or vacant shopping centers are an obvious sign things aren’t good, but a more subtle indication of financial insecurity is…

House in debt and money

Mortgage Debt Forgiveness & The Mortgage Debt Relief Act

By Bill Fay | August 15, 2018

There is no more optimistic day than when you open the front door on a new home. Unless of course, someone handed you that key somewhere around 2006 or so.…

Debt Relief, Just Ahead Green Road Sign Over Dramatic Sky, Clouds and Sunburst.

The Best Debt Relief Companies

By Bill Fay | August 9, 2018

What Is Debt Relief? Debt relief is when a borrower convinces a lender to reduce the amount of money owed (debt) to a level the borrower can afford to repay…

Three young happy future dentistry doctors in class at dental school

Dental School Loans: How to Refinance and Consolidate

By Bill Fay | August 8, 2018

Dental school is expensive. Enormously expensive. Reports indicate a dental school education is the most expensive of all the higher education fields. And the vast majority of new practitioners emerge…

What to do if you have medical debt

Medical Debt and Collections

By Bill Fay | August 8, 2018

Hefty medical bills can be a staggering burden for consumers. Only the best health insurance policies cover all costs, leaving those who need healthcare wondering where they will find the…

Loans you should try and avoid

Loans to Avoid

By Bill Fay | July 25, 2018

When the nation went into quarantine in March 2020 — and pretty much stayed there the next 10 months — one business never did shut down: Scam artists and fraudsters.…

Credit Report Dispute Form on the Computer

How to Dispute Credit Report Errors

By Bill Fay | July 25, 2018

Managing your financial life is tough enough without credit reporting errors setting you back. But mistakes happen. The Federal Trade Commission did a 10-year study and found that 20% of…

Medicare paperwork on folder

Medicare Cost & Medical Debt

By Bill Fay | July 24, 2018

Medicare, the federal government’s popular health insurance program for seniors (and younger people with permanent disabilities), covers nearly 60 million Americans, and adds more all the time: 10,000 baby boomers…

Supreme Court Building

Credit Card Act of 2009

By Bill Fay | July 24, 2018

The Credit CARD Act of 2009 has saved consumers billions of dollars, and most of them probably don’t even realize it. The law is commonly called the Credit Card Bill…

Employee resigning from his job

The Great Resignation: Why Is It Happening?

By Bill Fay | February 8, 2022

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…

Man handing refund of cash

How to Get a Refund on Your Student Loan Payments During COVID-19

By Bill Fay | May 3, 2021

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…

Envelope containing the third stimulus check

Third Stimulus Check

By Bill Fay | March 10, 2021

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…

$15 minimum wage

$15 Minimum Wage Increase: Will It Happen?

By Bill Fay | February 10, 2021

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…

Joe Biden announces American Rescue Plan

Details on the American Rescue Plan

By Bill Fay | January 14, 2021

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…

Image of newspaper titled Covid-19 Relief Bill with ribbon attached

Covid-19 Relief Bill

By Bill Fay | December 30, 2020

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,…

Second stimulus check on top of the first stimulus check

Second Stimulus Check Update

By Bill Fay | December 29, 2020

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…

Calendar with dart on second stimulus date

When Will a Second Stimulus Check be Delivered?

By Bill Fay | December 23, 2020

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…

Google search bar with phrase student loan benefit

Google Is the Latest Company to Offer Student Loan Repayment Benefits

By Bill Fay | November 3, 2020

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…

Woman deciding whether or not to pay down student loans during COVID-19

Paying Down Student Loans Before the COVID Suspension Is Lifted

By Bill Fay | October 28, 2020

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,…

Campaign buttons for Trump and Biden

Trump vs. Biden: How Their Plans for Student Loan Debt Compare

By Bill Fay | October 16, 2020

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…

Gavel on table

Court Ruling Favors Student Loan Bankruptcy Discharge

By Bill Fay | October 2, 2020

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…

Woman applying for a new credit card on her computer

Should I Apply for a New Credit Card During COVID?

By Bill Fay | September 24, 2020

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…

Sign for VA office

VA Extends COVID-19 Debt Relief to Veterans Through 2020

By Bill Fay | September 15, 2020

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…

For sale sign in front yard of house

Coronavirus and the Real Estate Market

By Bill Fay | August 14, 2020

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…

Senator Mitch McConnell at a podium

Details on the HEALS Act

By Bill Fay | August 5, 2020

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…

Nancy Pelosi at a podium

Details on the HEROES Act

By Bill Fay | July 21, 2020

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…

Bankruptcy court with COVID-19 sign

COVID-19 Bankruptcies

By Bill Fay | July 16, 2020

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…

Image of the stimulus COVID-19 relief check distributed by President Trump

Stimulus Checks for COVID-19 Relief

By Bill Fay | July 1, 2020

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…

Calendar with July 15 marked as tax day

Tax Season Countdown All Over Again

By Bill Fay | June 30, 2020

Everyone knows the old saying: Time flies when you’re procrastinating. Seems like only yesterday we were breezing past April 15 — the traditional deadline for income tax filing — and…