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.
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…
Growing older never was for the fainthearted, but it takes exceptional courage to navigate those Golden Years with dents on your credit report and a need for cash. Chins up,…
Choosing to declare personal bankruptcy can be among the most difficult decisions ever to confront an individual. Tougher still: Having to pick, under unmatched duress, which type of bankruptcy best…
There are plenty of reasons to consider making car loan payments with a credit card — everything from piling up rewards points or cash back, to scoring a bit of…
With President Biden declaring an end to pandemic emergency provisions effective May 11, and states and companies already having rescinded most of their debt collections suspensions, debt collectors are totally…
“It’s the economy, stupid,” was the mantra of Bill Clinton’s successful 1992 presidential campaign. At a time when the country was recovering from two-and-a-half quarters of recession and with unemployment…
It may seem ideal to refinance a mortgage or obtain a home equity line of credit (HELOC) at a time while interest rates are at an all-time low, but some…
Attention moms and dads: your teens are counting on you for more than a few bucks for a movie or some new clothes. They’re depending on you to pay for…
Good news is on the way for homeowners who held home equity lines of credit (HELOCs) with Citibank. Many customers’ HELOCs were suddenly suspended or canceled over the last four…
What started as a legitimate attempt to prevent identify theft has instead resulted in a ripe opportunity for criminal activity. According to recent reports, for as little as $10, criminals…
To the delight of consumer advocates, several American banks will be discontinuing controversial add-on products such as payment protection and debt protection in the coming year. Bank of America After…
As housing values inch their way up ever so slowly and the real estate market begins to recover, higher prices may actually make it a bit harder for some Americans…
A recent study found that nearly half of all Americans live comfortable lives during retirement but die with little money in the bank. According to the nonprofit National Bureau of…
As the nation works to recover from a struggling real estate market, an innovative program called CityLIFT has been unveiled in an effort to boost homeownership. The program will benefit…
New guidelines are in the works to help relieve millions of Americans trapped by underwater mortgages, meaning they owe more than their homes are worth. The Federal Housing Finance Agency…
An increasing number of seniors are becoming the target of predatory swindlers who come in two forms: those who convince seniors to make large financial investments based on bogus schemes…
Recent consumer reports indicate there was a slight shift among Americans and their approach toward debt — and it seems to be affecting economic growth. According to a July 2012…
Uncertain economic times may become even more challenging in a matter of months, as millions of Americans could face 2013 riddled with significant tax increases. If changes are not made…
Despite the modest housing market gains in the past 12 months, many younger borrowers are still likely to be underwater in their home mortgages, real estate experts recently said. About…
American consumers are doing their best to pay their bills and stay out of debt by using coupons to shrink costs. It’s working — but much more could be saved, experts say.
Long accused of using aggressive and unethical tactics, debt-collection agencies have stepped up their games recently to collect owed monies during these hard economic times. In response, lawmakers nationwide have…
Homeowners confronting the challenges of foreclosure or the short sale of their homes may soon be facing yet another hardship — income tax on money they will never see. For…
In response to overwhelming household debt and tax liabilities, the Internal Revenue Service (IRS) recently announced it intends to aid struggling Americans by possibly reducing their tax debt. In May…
American consumers can’t seem to catch a break. It seems every time we look around, prices are going up. Bank fees are no different. MoneyRates.com recently found that banking costs…
As the American housing market continues to struggle, several banks are making an effort to lessen the financial burden on distressed homeowners. Citigroup is implementing a pilot program this month,…