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].

Woman holding nonprofit sign

Non-Profit Debt Settlement

By Bill Fay | September 21, 2021

Would you be able to pay off your credit card debt, if creditors forgive 40% to 50% of your debt? And agreed to those numbers up front without negotiating? And…

What Is an Automatic Stay?

By Bill Fay | August 25, 2021

Filing for bankruptcy may or may not offer all consumers the clearest path out of debt but one benefit might just feel like the arrival of the cavalry. Filing for…

Analyzing credit card bills before filing bankruptcy

Filing Bankruptcy for Credit Card Debt

By Bill Fay | August 11, 2021

Bankruptcy is meant to give consumers drowning in debt a second chance, which a lot of people who overspent heavily using credit cards,  think they need. But if you look…

Man in suit choosing between chapter 7 and chapter 11 bankruptcy

Chapter 7 vs. Chapter 11 Bankruptcy

By Bill Fay | August 4, 2021

This is the story for anyone who thinks a bankruptcy is a bankruptcy is a bankruptcy. Not so. In fact, bankruptcies are like Nike sneakers: They come in a variety…

Facebook homepage

Can Debt Collectors Track You Down on Facebook?

By Bill Fay | June 17, 2021

Imagine logging on to Facebook and finding a new message in your inbox. It’s not from a family member or an old friend. Instead, it’s a debt collector asking why…

Credit report score

Breaking Down Your FICO Score

By Bill Fay | June 17, 2021

You may know your credit score, but understanding how you are graded can be a tool to help you raise your score in the future, and avoid repeating the mistakes…

Desktop computer showing a credit score over 800

How Do I Get My Credit Score up to 800?

By Bill Fay | June 17, 2021

You don’t have to be a millionaire to know what achieving that financial ranking means. Being a millionaire means you have crossed a huge economic threshold. Doors open. Opportunities are…

Lower Utility Bills This Winter

How to Cut Your Utility Bills This Winter, No Matter Your Heating Fuel

By Bill Fay | June 10, 2021

As the temperature outside drops, your utility bill is on the rise. We get it. It’s cold outside and you want to keep warm and cozy inside, but before you…

Eviction notice on front door

What to Do About an Eviction

By Bill Fay | June 9, 2021

There have been so many dispiriting numbers resulting from the COVID-19 pandemic that it’s hard to pick which one is the worst, but here is one that belongs somewhere near…

couple-with-bills-and-calculator

Best Places to Get a Debt Consolidation Loan in 2020

By Bill Fay | May 28, 2021

If the pile of bills you’re dealing with from credit card companies has grown out of control, it might be time to consider a debt consolidation loan. In many cases,…

Stressed Woman with Paperwork

10 Biggest Mistakes People Make When Paying Off Debt

By Bill Fay | May 27, 2021

The decision to get yourself out of debt is a life changer, if you are willing to make the necessary commitment that goes with that. You can learn how to get out of debt and how…

Phone bill fees

Phone Bills Bring a Holiday Surprise: 62 Percent in Fees

By Bill Fay | May 27, 2021

Do you know anything about the California Relay and Community Surcharge or the Texas Poison Control Fee? How about the Federal Excise Tax? Or the Universal Service Fee? Those are…

car shopping tips

10 Things to Know When Shopping for a Car

By Bill Fay | May 27, 2021

There are 250 million registered passenger vehicles in the U.S. today — and just 115 million American households. According to government statistics, 57 percent of those households have two or…

Pencil erasing debt

Compound Interest: How It Works

By Bill Fay | May 27, 2021

Compound interest is a powerful tool for building wealth. It’s also a devastating tool that can destroy wealth. It just depends on which side of the financial equation you use…

Weigh your options and find out the best way for you to invest your money

The Dos and Don’ts of Investing

By Bill Fay | May 27, 2021

Everyone wants investments, but far fewer have them. In some cases, a catastrophic health problem or some other disaster wipes out a person’s savings, but most of the time the…

A financial advisor can keep all your eggs in a basket

Finding the Right Financial Adviser You Can Trust

By Bill Fay | May 27, 2021

They say money makes the world go ’round. That well may be true, but you don’t have gravity and other universal constants to keep your financial world in a constant…

Sign that says habits that create wealth with money background

These 7 Habits Will Help You Become Rich

By Bill Fay | May 26, 2021

Humans are creatures of habit, and a lot of us creatures are in debt. What habits got us there? How did we fall into a life of anxiety over credit…

Man looking in wallet for money

How To Stretch Your Dollar Until Payday

By Bill Fay | May 25, 2021

Stretching dollars until the next paycheck arrives has become a regular practice in America. More than 38 million U.S. households are pinching pennies between paydays and the surprising fact about…

10 ways to save money while traveling.

Traveling on a Budget: 10 Tips to Save Cash

By Bill Fay | May 23, 2021

We all know traveling isn’t cheap or easy. Depending on the destination and the length of stay, a vacation can take months of researching, planning and saving. Despite this, people…

Jar of money dedicated for family vacation

When You Can’t Afford Your Electric Bill

By Bill Fay | May 23, 2021

Budgets take a beating during the summer and it’s not just from the money spent on vacation. Going to see Grandma or spending a week at the beach are seen…

GI Bills and student loans

Obama, Congress Deride For-Profit Schools’ Preying on Veterans

By Bill Fay | July 17, 2012

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…

Consumer Credit

Economists Debate Good News, Bad News of July Credit Report

By Bill Fay | July 17, 2012

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…

Home For Sale - Foreclosure Sign

Increasing Number of FHA Home Loans Fall into Delinquency

By Bill Fay | July 10, 2012

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…

Expensive House

Report: Reverse Mortgages Being Used by Young Borrowers

By Bill Fay | July 5, 2012

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…

The Perfect Home

Reports: Housing Market Showed Marked Improvement

By Bill Fay | July 2, 2012

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…

Young male student with glasses holding multiple credit cards looking stressed about his climbing debt

U.S. College Students Consumed by Credit Card Debt

By Bill Fay | July 2, 2012

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,…

2 Happy People

Credit Agency: Some Mortgage Modification Strategies Better than Others

By Bill Fay | July 2, 2012

Fallout from the collapse of the U.S. housing market is ongoing, and consumers are only now beginning to learn the effectiveness of various mortgage modification strategies that they used after…

Veterans struggle with debt

Veterans Struggle as Much as Other Americans when Wrestling Debt

By Bill Fay | July 2, 2012

Veterans and active duty service members of the U.S. military and their families are struggling as much as everyone else in America with substantial financial problems in the wake of…

Student Loan Application

Congress Steps Up, Keeps Stafford Loan Rates at 3.4 percent

By Bill Fay | July 2, 2012

It came down to the wire, but Congress finally voted to help out millions of current and former college students who have accumulated up to $1 trillion in student loans.…