Category:
Debt FAQs

How to Create and Manage a Budget

By Bill Fay | May 20, 2017

Budgeting has a bad reputation among a lot of America households who view it as a way to strip all the fun out of spending money. No more shopping. No…

Good Debt vs. Bad Debt

By Bill Fay | May 18, 2017

The one thing that keeps most Americans up at night is not a lumpy mattress or getting chased by a naked Woody Harrelson in a dream. It’s the Big D…

The Rule of 78 & Precomputed Interest

By Bill Fay | April 28, 2017

The Rule of 78 is a financing method that allocates pre-calculated interest charges that favor the lender over the borrower on short-term loans. The Rule of 78 can be traced back…

Debt Stress and Mental Health

By Michael Knisley | March 26, 2017

If you’re currently experiencing a mental health crisis or if you’re considering harming yourself or others, please get help immediately. You can call the free and confidential National Suicide Prevention…

Gambling and Debt

By Max Fay | February 6, 2017

Gambling is essentially anything that starts with the phrase “I bet…” And you can bet America loves to gamble. About 75% of adults in the U.S. – that’s 194 million…

Debt Disputes

By Bill Fay | July 13, 2012

Having to confront the consequences of outstanding debts can be an upsetting and worrisome experience. Regardless of how one fell into debt – whether from overspending, a medical or family…

10 Ways Banks Take Advantage of You

By Bill Fay | June 18, 2012

Banking used to be simple. Bankers lived by the 3-6-3 rule — borrow at 3 percent, loan at 6 percent, and hit the golf course by 3 in the afternoon.…

What Is Insolvency?

By Bill Fay | June 18, 2012

You can be insolvent without being bankrupt, but you can’t be bankrupt without being insolvent. Confused yet? Many people think of the two as the same thing, but they are…

Debt FAQs

By Bill Fay | March 26, 2012

Your finances are an important part of your life and future. Financial responsibility and sound decision-making about your money now can save you money down the road and make it…