Staff Writer

Max Fay

Max Fay is an entrepreneurial Millennial whose thoughtful writing shows he has a keen eye on both. Max has a genetic predisposition to being tight with his money and free with financial advice. At 25, he not only knows what an “emergency fund” is, he already has one. He wrote high school and college sports for every major newspaper in Florida while working his way through Florida State University. That experience was motivation to find another way to succeed financially and he has at Debt.org. Max can be reached at mfay@debt.org.

Consumer Money protected under umbrella - Financial Protection Bureau

Consumer Financial Protection Bureau

By Max Fay | July 11, 2018

The Consumer Financial Protection Bureau (CFPB) is an independent agency under the Federal Reserve System. It was created in 2010 to protect and educate consumers about their dealings with financial…

Secure Credit Card With Lock

Secured Credit Cards

By Max Fay | June 11, 2018

  If you don’t qualify for a traditional credit card because you have no credit history, secured credit cards are a great way to get your toes wet and learn…

Using a personal loan for a home or a car is one way to apply it

Paying off a 30-Year Mortgage Early

By Max Fay | June 4, 2018

There was a time when paying down a mortgage or refinancing a 30-year-loan to 15-years was an automatic decision. It was almost always worth it. But … that was back…

Top 13 Ways to deal with creditors - Infographic

13 Ways to Deal with Debt Collectors & Agencies

By Max Fay | May 20, 2018

The debt collection industry generates $11 billion a year from the 70 million Americans who haven’t or can’t pay their bills. Debt collectors get most of their revenue from people…

Paperwork for Charge offs on table with calculator

What Are Charge-Offs?

By Max Fay | May 7, 2018

If you are struggling to make payments on credit accounts, receiving a message like this – “Your account has been charged off!” – might sound like the answer to your dreams. It…

New & Used Car Loan Options

Auto Loan: New & Used Car Loan Options

By Max Fay | April 12, 2018

Before you get too excited about the latest, greatest new car you gotta buy, take a deep breath and put away your checkbook, at least for a moment. There’s a…

The garnishment process can be complicated, we will help you navigate some of the terrain

Garnishment Process

By Max Fay | March 15, 2018

Wage garnishment is a subject people want to avoid talking about, but if your wages are being garnished that is exactly what you should be talking about. Wage garnishment is…

History of Student Loan Interest Rates

Interest Rates on Student Loans

By Max Fay | March 9, 2018

Student loans are meant to help individuals reach their higher education goals. Because of this, they typically carry lower interest rates than other types of loans and debts. Still, your…

Employers are now offering student loan repayment as a benefit

Student Loan Repayment Benefit: How it Works, Company List & Payments

By Max Fay | February 14, 2018

Move over 401(k) and health insurance plans, there’s a new company benefit tailored to the millennial workforce. The “Student Loan Repayment Benefit” is the name, and it is being offered…

We can help you create a budget for college. Here are some tips and resources for you to utilize.

College Budgeting: How to Save Money in College

By Max Fay | November 20, 2017

  The college years typically are a student’s first steps into adulthood and if you don’t want to stumble directly into debt as you work toward a diploma, learn how…

Student at a college library with books in front of her

College Textbooks Cost Too Much 

By Max Fay | September 27, 2017

Everyone knows the price tag for college rises every year, but even soaring tuition costs can’t keep up with the skyrocketing price of college textbooks. According to data from the…

People around the words Discrimination

Debt and Discrimination

By Max Fay | August 25, 2017

While banks and other lenders have the right and responsibility to gauge the financial fitness of any person that applies for a loan, several federal laws prohibit them from engaging…

Financial Aid Process Debt Board Game Infographic

Financial Aid Process

By Max Fay | August 22, 2017

  The college financial aid process is long and it’s boring, but it can be a long  and boring road to riches. The federal government handed out $125.7 billion in…

Merit-Based Scholarships & Grants

By Max Fay | August 8, 2017

Merit-based scholarships could be the most misunderstood aspect of college financial aid, based on the common misconceptions that: Only straight-A students qualify Only a few of the straight-A students actually get…

Unsecured debt and what it means

Unsecured Debt

By Max Fay | August 7, 2017

Unsecured debt is any debt that is not tied to an asset, like a home or automobile. This most commonly means credit card debt, but can also refer to items…

One persons hand giving money to other persons hand

Need-Based Scholarships & Grants

By Max Fay | June 27, 2017

Need-based scholarships and grants are exactly what their title indicates: money for students with a financial need. More than 85% of college students receive some form of financial aid so there is…

There are many different types of educational scholarships that you can use to aid in your journey

Scholarships & Grants for College Students

By Max Fay | June 15, 2017

When an 18 year old is concerned about budgeting, you know the cost of college tuition is getting out of hand. A new survey conducted by the Princeton Review says…

Flow chart showing different branches of student loan repayment options

Income-Based Repayment of Student Loans

By Max Fay | May 18, 2017

Finding a decent solution to paying off student loan debt is becoming almost as difficult for college graduates as finding a decent job. The federal government defaults every student loan…

Man Gambling and in Debt

Gambling and Debt

By Max Fay | February 6, 2017

Gambling is essentially anything that starts with the phrase “I bet…” It’s a wager. You bet something of value – usually money – on an event with an uncertain outcome…

There are many End-of-life options, but you need to consider the cost

Hospice Costs & End-of-Life Options

By Max Fay | March 22, 2016

  End-of-life decisions are among the most difficult to make. They can affect the patient’s family for years to come, both financially and emotionally. Still, decisions involving end-of-life care are…

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…

Man filling out application after losing health insurance

I Lost My Health Insurance, Now What?

By Max Fay | November 3, 2020

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…

Blocks that spell out wealth tax next to bag of money

Will the Wealthy Be Taxed More?

By Max Fay | October 23, 2020

There has been much talk this campaign year about a “Wealth Tax” and whether it would impact the wallets of middle and lower-income America, even if its name doesn’t. Rest…

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…

Teenager driving a car with his dad

Adding a Teenager to Your Car Insurance Policy

By Max Fay | July 2, 2020

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…

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…

Image of rocket boosting your credit score fast

How to Quickly Fix and Improve Your Credit Score

By Max Fay | October 31, 2019

For most, a credit score is background noise in a busy life of more pleasant pursuits. Then we want to acquire something important and expensive — a house, a car,…

Eliminating Debt Without Paying: Fact or Fiction?

By Max Fay | October 3, 2019

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…

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…

Woman stressed about payday loans looks into consolidation

Debt Consolidation for Payday Loans

By Max Fay | March 25, 2019

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…

TV Remote Pointing At Television

I Can’t Pay My Cable Bill: What To Do

By Max Fay | March 12, 2019

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…

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 | November 29, 2018

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 | July 30, 2018

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…

Man trying to determine the debt consolidation myths from the truth

The 6 Biggest Debt Consolidation Myths: Know the Truth

By Max Fay | March 14, 2018

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…

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…

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Millennial’s Car Rental Issues & Alternatives

By Max Fay | June 30, 2017

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…