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…
While America’s demand for mortgages has gone up this summer, the banks still haven’t budged much on their tightened lending standards, CNN recently reported. The Federal Reserve recently announced that…
Economists are increasingly optimistic this month as more than 163,000 new jobs were added to the American market in July, the highest figure in the past five months. This number…
Over the past few years, millions of older Americans have found themselves in a much more challenging financial position than they ever imagined. The American Dream, which once included a…
Millions of Americans may be taking home a few less dollars next year, as a major tax cut may soon disappear. The payroll tax break, first enacted in 2010 by…
What a difference a few years can make in the typical American household. The Federal Reserve recently announced that the median U.S. household lost nearly 40 percent of its wealth…
Homeowners facing potential foreclosure with mortgages backed by Fannie Mae and Freddie Mac will not be getting any principal-reduction bailouts, based on a decision announced this week by the Federal…
More than 2 million Capital One credit card customers can expect to receive money back this year after a recent investigation completed by the Consumer Financial Protection Bureau (CFPB) revealed…
After years with little or no oversight, more than 30 U.S. consumer reporting firms will fall under the eye of the Consumer Financial Protection Bureau (CFPB) starting September 30. It…
Between mortgages, home equity loans, credit cards and hospital bills, millions of Americans are said to be living on the financial edge, deep in debt. Companies and banks, frustrated with…
While the once sluggish real estate market has reportedly been on an upswing in recent months, it may actually become more challenging to take advantage of current low housing prices…
There is good news for small business owners and entrepreneurs considering a new venture — lenders are steadily increasing their volume of small business loans. In May, the overall number…
America’s mortgage crisis affected millions of older homeowners just at the time when their retirement nests should be heavily feathered, according to a study from the Public Policy Institute of…
They can be found diligently working in local grocery stores, offices, department stores and within the health care industry – they’re Americans aged 65 and older who remain active in…
There’s good news on the horizon for homeowners and the national economy this financial quarter: More than 700,000 U.S. households regained positive equity in their properties, according to a new…
Responding to complaints from thousands of veterans, Congress, the Obama administration and various veterans groups are condemning some of the practices of for-profit schools and colleges that receive hundreds of…
Economists around the globe are crunching the latest G.19 credit numbers released by the Federal Reserve’s Board of Governors, numbers that show that consumers around the world are still borrowing…
Unlike other sectors of the mortgage market, which appear to be steadying after years of turmoil, FHA loans are falling into delinquency and foreclosure at an alarming rate. A recent…
A recent consumer report indicated the government-insured reverse mortgage program, once intended to help seniors continue living in their homes free from financial constraints during the retirement years, contains possible…
After several challenging economic years, the sluggish housing market is said to be on the mend as the number of total home sales show a sales gain. In fact, economists…
The results are troubling for economists. In a country riddled with consumer debt — the next generation of American consumers, college students, seem to be following in their parents’ footsteps,…