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…
In 1956, M. King Hubbert, a geoscientist working at the Shell research lab in Houston, presented a paper at a meeting of the American Petroleum Institute (API), predicting that oil…
Have you checked your credit report this year? Even if you have, you may be one of the 40 million Americans with a mistake on your Equifax, TransUnion or Experian…
In 1999, Susan Beacham quit her job as senior vice president at Bank of America in Chicago so she could spend more time with her daughters. She volunteered to teach…
America’s never-ending ping-pong match with the United States Postal Service – I love it! I hate it! Close it down! No, keep it open! – is back on. The announcement…
Nearly half of Americans do not have the financial resources to survive for three months if they lose a job or can’t work because of injury. That’s the conclusion of…
While Tax Day — April 15 — is still some months away, now is the time when people begin thinking about how and when they are going to file and…
Attempts by nursing home operators to stay relevant and profitable in the constantly changing world of health care, received a boost from the Federal Housing Administration (FHA) last year. The…
President Obama’s nominee to head the Securities and Exchange Commission (SEC), the government agency charged with regulating the nation’s stock exchanges and securities markets, is Mary Jo White. How White handles…
Applications and approvals for Social Security Disability Insurance (SSDI) were both down in 2012, which could be another small sign that the labor market continues to improve. There were 2.82…
Joe Corsino, like a lot of Americans, would see out-of-work veterans gathered in groups in city parks or panhandling with signs on downtown streets or even camping out at interstate…
Every year, American universities confer more than 3,000 Ph.D.s in psychology. Ever wonder what all those pointy headed academics do with their time? Well, most of their efforts go into…
The Standard and Poor’s Index rose 8.14 points Friday, continuing its longest winning streak since 2004 and capping a week of generally good news for the U.S. economy. The S&P…
The House of Representatives put out one fiscal fire Wednesday, approving a measure to extend the Treasury Department’s borrowing authority to May 18, but there are more hot issues simmering…
The debt ceiling is the latest self-inflicted crisis created by the federal government so that Democrats and Republicans can point fingers at each other. Here are five things to catch…
Suppose you are a teenager. Suppose you are a rich teenager and one who is also spoiled and ill-behaved. Suppose you bend the rules continually, stretch the truth and put…
Republican leaders will deliver a new strategy this week in the budding battle with Democrats over who gets the blame if the U.S. government has to default on its $16.4…
With $444 billion in annual revenue, Walmart could be a country. And if it were, it would rank among the largest economies in the world. But Walmart, admittedly the planet’s…
The legislation that kept the United States from going over the fiscal cliff was fool’s gold for anyone who thought it would help American businesses and the 12 million people…
More than 30 years ago, Congress created 401(k) plans as a way for employers to encourage their workforce to save for retirement. Since then, 401(k) and other employer-funded, defined contribution…
Earnings reports from the two of the nation’s largest banking institutions indicate they made plenty of money last year, though JPMorgan Chase CEO Jamie Dimon’s paycheck won’t reflect that. Chase…