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.
Debt trouble does not discriminate. It comes to every demographic. However, because of their service to the nation, military veterans often travel a financial path unique among Americans. The transition…
If you need money in a hurry, you can get cash through your credit card or a payday loan. It’s quick and convenient, but don’t be fooled. It can be…
The answer to the question posed here — Should I pay my credit card bill early? — is frustratingly vague: It depends. Whether it’s wiser to pay early or wait…
Military members and veterans often struggle to make ends meet. That leads to bad credit scores, which makes them prime targets for predatory lenders. The base pay for new military…
You can have as many credit cards as you want. That doesn’t mean you should get as many as you want. What is the right number for you? That depends…
The average American has about four credit cards. If you’re an average American, you might want to get rid of at least one of them, thinking it will help you…
Few concepts are more rooted in the ideal of the American dream than owning and operating your own business. But making the dream a reality demands more than a great…
When the federal government shuts down, the first question millions of federal employees ask is: Who still has to work, and who gets paid? Shutdowns happen when Congress fails to…
Among the myriad wonders of medical care in the United States, medical debt stands stubbornly as the one incurable malady. And like any lingering condition, it can quietly weaken your…
A lot of people would rather inherit a doghouse than a timeshare. At least the doghouse won’t require a $1,000 annual maintenance fee. If someone dies and leaves you a…
If you can’t pay your credit card bills, you’re probably losing sleep. But there is at least one thing you don’t have to worry about – you can’t be thrown…
Bankruptcies are increasing in the U.S., which means financial dishonesty is also on the rise. The legal term is “fraud,” which is an all-purpose word for lying, cheating, or other…
Divorce does more than end a marital contract. It also severs most of the couple’s financial entanglements — most being the keyword. Debt is stubborn; as surely as it dogs…
Collections — the process of pressing a borrower to repay money owed to a business or organization — can present a thorny patch in the road to your financial goals.…
You’ve bought a house. You’ve locked down all the details, signed all the papers, and are set to make a monthly payment for at least 15 years. Then one month,…
Anyone new to bankruptcy can’t be blamed for thinking the whole process equals doom, gloom, and forfeiture. After all, filing bankruptcy is not going to look good on your resumé…
Credit card debt has skyrocketed to more than $1.1 trillion. So has looking for ways to avoid paying interest on that mountain of money. For millions of Americans, the search…
Borrowers who’ve gotten themselves tangled in a charge-off situation face difficult choices. Pay the debt in full? Try to settle for a lesser amount? Run away and hide? “The world…
For those seeking a fresh financial start, Chapter 7 bankruptcy has plenty of upsides. It’s the cleanest, most straightforward, least time-consuming, and least expensive of the various bankruptcy options. The…
When people get married, they often vow to take each other through thick and thin. Bankruptcy can get pretty thick for a husband and wife. Bankruptcy is when a person…
The Federal Reserve vowed this week to keep interest rates near zero until national unemployment falls to the pre-recession levels, which could take up to three years. The main interest…
In Part 1, the War on Labor Unions was exposed as a premeditated political attack on middle-class working men and women, cynically camouflaged as some sort of protection of the…
After a year filled with negative banking news from around the world — from deceptive practices, outrageously high fees, class-action suits and money laundering scandals — Americans are beginning to…
There are hot wars, and there are cold wars. There are good wars (the War on Poverty), unwise wars (the War on Drugs), unnecessary wars (Iraq) and endless wars (the…
The world’s middle-class population will triple in the next 20 years, bringing with it unprecedented buying power that will be a boon to the global economy, but also an appetite…
With the holiday spending season in full swing, market analysts say this could be a banner year for sales, employment and holiday parties. Seasonal hiring is quickly approaching a record…
A new report says that most baby boomers have successfully stuffed enough pennies into the piggy banks – and dollars into the 401(k) plans – to retain their status as…
President Obama took his debt-reduction campaign to Michigan on Monday, amid cautious signs that progress is being made on avoiding the “fiscal cliff.” Obama and Republican Speaker of the House…
The new year looks even brighter for more than 1 million people deep in student loan debt. The new Pay as You Earn program, created in an effort to help…
In November, the U.S. unemployment rate fell to its lowest level in four years and 146,000 jobs were added by a still-improving economy, but the background news to both numbers…
Whatever one thinks about the nature of ObamaCare, officially called the Affordable Patient Protection and Care Act (ACA), it’s certainly not the foul-smelling, socialistic takeover of the medical establishment as…
With just a few weeks remaining until the end of the year, millions of Americans are seeking ways to make 2013 better, especially from a financial perspective. From making new…
Where do you stand on the so-called “fiscal cliff,” which the U.S. economy may or may not be stepping off of at midnight Dec. 31? Before you answer, read over…
Facing increased scrutiny from housing advocates and community groups, President Barack Obama is being asked once again to sidestep political protocol to replace Ed DeMarco, the acting head of the…
Despite a devastating hurricane that wiped away much of the Eastern seaboard in October and the constant warnings of an impending fiscal cliff and tax hikes in the coming year,…
“You deserve a break today, So get out and get away … to McDonald’s!” Last week, 200 New York City fast food workers took a break and got away from…
Republican leaders sent a letter to President Obama on Monday, proposing solutions to the debt crisis that include spending cuts of $1.4 trillion and an overhaul of the tax code…
With an improving economy and programs aimed at helping homeowners stay current with their mortgages, housing-market analysts say that 2012 will prove to be a turnaround year for homeowners and…
As much as President Obama and Congress have talked about dealing with the “fiscal cliff,” there is one term noticeably missing from the discussion: Sequestration and its effect on the…
Imagine being forced to leave your job . . . and being forced to accept $1.2 million on your way out the door. That was the case at Rutgers University,…