Staff Writer

Max Fay

Max Fay has been writing about personal finance for Debt.org for the past five years. His expertise is in student loans, credit cards and mortgages. Max inherited a genetic predisposition to being tight with his money and free with financial advice. He was published in every major newspaper in Florida while working his way through Florida State University. He can be reached at [email protected].

Caution sign for Chapter 13 bankruptcy

What Makes Chapter 13 Bankruptcy a Bad Idea?

By Max Fay | July 20, 2021

Bankruptcy laws exist for those whose debt has become unmanageable. Whether it’s bad fortune (think medical bills or a lost job) or financial irresponsibility (think reckless spending with credit cards,…

Bankruptcy with a discount tag

Low Cost Bankruptcy

By Max Fay | July 16, 2021

The cost of bankruptcy can be daunting, especially when estimates of attorney fees alone range between $1,000 and $4,000. Add it up and all the cost-factors involved may well make…

Man with no money trying to file bankruptcy

Filing Chapter 7 With No Money

By Max Fay | July 12, 2021

The oxymoron of bankruptcy is that a person in significant debt has to find money to pay for the way to get out of debt. Government thinking, no? Yes, Chapter…

Paperwork to refinance debt for consolidation

Refinancing Mortgage for Debt Consolidation

By Max Fay | June 3, 2021

Debt consolidation through a refinanced mortgage is an attractive and beneficial way to pay off loans and eliminate high-interest debt. The prime factor for qualifying for debt consolidation refinancing is…

Woman stressed about payday loans looks into consolidation

Debt Consolidation for Payday Loans

By Max Fay | May 28, 2021

About 55 million Americans don’t have emergency savings, so it follows that when emergencies happen, they turn to payday loans. Approximately 12 million consumers use payday loans and typically pay…

Man trying to determine the debt consolidation myths from the truth

The 6 Biggest Debt Consolidation Myths: Know the Truth

By Max Fay | May 28, 2021

If you’re looking for a way out of debt, chances are good you’ve come across the term “debt consolidation” and chances are just as good that everyone you talk to…

Teenager driving a car with his dad

Adding a Teenager to Your Car Insurance Policy

By Max Fay | May 27, 2021

Teens see a driver’s license as a ticket to adulthood and adventure while their parents likely view it as a torpedo aimed at their household budget. The cost of adding…

TV Remote Pointing At Television

I Can’t Pay My Cable Bill: What To Do

By Max Fay | May 25, 2021

Another month, another budget-crippling cable bill. When will it ever stop? The average cable bill is now $103.15 a month and is increasing year after year, despite more competition. What…

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Millennial’s Car Rental Issues & Alternatives

By Max Fay | May 24, 2021

We can drive a car at 16, vote at 18, drink at 21, but until recently, we couldn’t rent a car until 25. Fortunately for the 25-and-under crowd, those rules…

Roommates Helps You Save

Save Money With A Roommate & How to Find One

By Max Fay | May 24, 2021

We’ve heard all about your roommate nightmares. There’s the guy who walks around in his boxers eating all your leftovers, or the girl blasting Beyoncé at two in the morning…

How Can You Get Out of Credit Card Debt Without Paying?

By Max Fay | May 23, 2021

Paying credit card bills can feel like fighting a fire. You put out one flame and another pops up. Eventually, you just want to get away from the flames. A…

Intro To Credit Cards

Credit Cards for Millennials: Terms, How to Apply & Rewards Programs

By Max Fay | May 20, 2021

  Credit cards are a hot topic for Millennials. Half of the world tells us that credit cards are pure evil and the other half constantly brags about the “rewards”…

Man filling out application after losing health insurance

I Lost My Health Insurance, Now What?

By Max Fay | May 17, 2021

A pink slip can be a traumatic experience but losing your employer-provided health insurance is nothing short of devastating. Since the coronavirus pandemic erupted in early 2020, tens of millions…

Young male student who is looking at a car to buy with a student loan

Dangers of Using Student Loans to Buy a Car

By Max Fay | May 13, 2021

When the federal government handed out the first student loans in 1958, the message was simple: This money is to be used for education purposes, meaning tuition, books, fees, supplies…

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Dorm vs. Apartment: Which is Cheaper

By Max Fay | May 12, 2021

Where to live in college is annually one of fiercest arguments in every household, but if you think you’re going to win a debate between dorms and apartments based on…

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College Guide to Buying Computers

By Max Fay | May 12, 2021

Complete reliance on a laptop is one of the most common shared experiences among college students. You stay up late in the library, pounding on your keyboard and thinking to…

Elizabeth Warren proposed a new type of bankruptcy, Chapter 10

Chapter 10 Bankruptcy

By Max Fay | March 15, 2021

The federal bankruptcy system could see a drastic overhaul if a bill proposed by two Congressional Democrats becomes law. Rep. Jerry Nadler (D-N.Y.) and Sen. Elizabeth Warren (D-Ma.) say their…

Street sign with debt consolidation or balance transfers

Should You Use Debt Consolidation Loans or Balance Transfer Cards?

By Max Fay | March 8, 2021

If the size and complexity of your debt is bothering you, trust your instincts. Yes, you ought to consider consolidating that debt to make it more manageable. There is good…

Client wanting to know how often they can file bankruptcy

How Many Times Can You File for Bankruptcy?

By Max Fay | November 23, 2020

The COVID-19 pandemic has drained millions of bank accounts and destroyed thousands of businesses. But it’s expected to be good for one business: bankruptcy. When stimulus payments and forbearance measures…

Couple buying first home in Texas

Texas

By Max Fay | August 12, 2020

If you’re a Texas first-time homebuyer, the process can seem overwhelming and intimidating. The challenges include a tight supply of homes and rising prices. But there’s help available that can…

Coronavirus scam fraud alert on cell phone

How to Avoid COVID-19 Scams

By Max Fay | November 9, 2020

You don’t have to catch the virus to get harmed by COVID-19. As soon as the pandemic hit, scams arose to take advantage of people’s fears. In 2020, Americans have…

Trump and Biden looking at each other

How Biden & Trump Tax Policies Compare

By Max Fay | October 2, 2020

The gap between the presidential candidates on tax programs is Grand Canyon-esque. And that may understate it. President Donald Trump wants to continue the 2017 tax cut, which his campaign…

Paperwork to defer payroll tax

Payroll Tax Deferral: Is It Worth It?

By Max Fay | September 11, 2020

Many American businesses are disregarding President Trump’s order allowing them to temporarily stop withholding Social Security taxes from their employees’ paychecks. The plan, they say, is confusing and won’t produce…

Man deciding whether to consolidate his debt

It’s a Great Time to Consolidate Credit Card Debt

By Max Fay | August 27, 2020

If you’re considering a consolidation loan to sweep away credit card debt and lower your monthly interest payments, do it! There couldn’t be a better time. All you need is…

Document titled Unemployment Benefits

New Federal Unemployment Benefits Proposed in the HEALS Act

By Max Fay | July 27, 2020

If you’ve lost your job due to the coronavirus crisis, your unemployment benefits are likely to decrease very soon. It’s just a question of how much. That will be decided…

Hazard sign with dollar sign on it

Hazard Pay for Essential Workers

By Max Fay | June 1, 2020

“You deserve hazard pay for that job!” All of us probably have either said that or someone said it to us, and it’s almost always a tongue-in-cheek expression of sympathy…

Elizabeth Warren giving a speech

Democratic Presidential Candidates Plan to End Student Debt Crisis

By Max Fay | July 1, 2019

It’s impossible not to notice that student loan debt has emerged as a big issue in the campaigns for the 2020 Democratic Party presidential nominations. Massachusetts Sen. Elizabeth Warren brought…

Teacher in Classroom with Students

The Future of the Public Service Loan Forgiveness Program

By Max Fay | March 8, 2018

President Trump’s latest budget proposal to Congress calls, once again, for the elimination of the Public Service Loan Forgiveness (PSLF) program. This is the second time Trump has recommended eliminating…

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Millennials Using Side Jobs to Pay Off Debt

By Max Fay | August 2, 2017

In the words of rapper/philosopher Jay Z: “You can’t knock the hustle.” Millennials are having to hustle to pay their student loan debt. Over 44 million American have student loan…

Millennial Home Buyer Wanted

Why Millennials Aren’t Buying Homes

By Max Fay | December 14, 2016

Data shows that homeownership among millennials is down, but that doesn’t mean they aren’t interested in buying a home. In the last two decades, homeownership in the U.S. has declined…

FAFSA Benefits Students

Changes to FAFSA Benefits Students

By Max Fay | October 25, 2016

You’re a college student, and life feels grand. You have your classes picked out for next semester, and you’ve signed a lease through next year. Everything is falling into place.…

Fan receives large check from super-star to help pay their student loans.

Taylor Swift Sends Check to Fan to Help With Student Loans

By Max Fay | January 14, 2015

It pays to be a Taylor Swift fan. The music super-star recently sent a super fan a large check to help pay off her student loans.  A woman named Rebekah Bortnicker…