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].
Bankruptcy World has two distinctly different “Dis-lands.” One, “Dis-charged,” is the magnificent, joyful, cherished holy grail of bankruptcy outcomes. Every bankrupt wants to get through the Discharged finish line —…
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…
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…
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…
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…
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…
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…
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…
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…
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…
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,…
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…
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…
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…
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…
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…
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…
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…
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…
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…
While Governors in several states are trying to crack open the door on the shuttered U.S. economy, the news from two key elements of a would-be revival – employment and…
Truth, they say, is the first casualty of war. And on March 13, President Donald Trump put America on a war footing. We’re coming for you, coronavirus. Speaking from the…
Surveys show most Americans will make a resolution to get out of debt in 2020. Surveys also show most Americans will fail miserably. If you want to get out of…
The announcement that FICO will put two new credit scoring models – FICO 10 and FICO 10T – into play this summer is the ultimate good news/bad news situation for…
Tempted to spend lavishly and spontaneously this holiday season? Looking for someone to blame? Leave the three wise men out of it. Yes, they launched the tradition of bestowing expensive…
A drowning person wants somebody to throw them a life preserver. People drowning in student debt might have just been thrown a bowling ball. The government’s new student loan watchdog is…
Americans are taking on ever larger debt loads as they struggle to maintain living standards. They are borrowing more on their credit cards, taking on a soaring levels of student…
With Donald Trump being credited or blamed for virtually every imaginable good or ill (depending on the observer, of course), we in the world of personal finance and debt management…
The U.S. economy might be bustling for civilians, but not all active enlisted members of the military are thriving in it. More than one-third of enlisted military members do not…
People are supposed to relax when they retire, not worry about financial problems. Studies show that a lot of retirees turn to alcohol for debt relief, but there is a…
Security breaches have become so commonplace in the United States that news around them barely causes a ripple these days. Even if it’s news that provides consumers an extra layer…
Across America, home values are on the rise again, surging with the economy. With that surge, homeowners eager to scratch a pent-up-demand itch once again are taking out HELOCs, or home…
The loan business is getting personal. We’re talking personal loans, and they are exactly what they sound like. You borrow money from a lending institution and pay it back. The…
Fed up with being in debt? Congratulations. Rearranging your mindset is the first step to managing, then eliminating, your money troubles. Dumping debt may require a lifestyle change, but we’re…
The era when almost anyone with a pulse could get a loan or mortgage from a commercial bank ended with the financial meltdown of 2008. Today, tightened regulations and a…
Here’s a warning for anyone who must borrow money for college. There’s an assault under way on the most cost-effective and popular student-loan repayment programs. Lines are being drawn and…
People with bad credit used to despair about their chances of getting a loan, but those days may be over. The marketplace for lending is so crowded with opportunities that…
Interest rates are going up, so it’s time to seriously consider refinancing your home loan. Or if you want to buy a house, it would be wise to seriously consider…
The holiday season ended months ago, but it is far from a distant memory for millions of credit card holders, who are still paying for it. American consumers spent a…
American consumers owe a record $1.023-trillion in revolving credit – mostly through credit-card debt – and with interest rates expected to rise in 2018, financial experts predict the problem will…