Category Archives: Debt
Reality Check: Rolling Over Your Underwater Car Loan Into A New Loan Is A Terrible Idea
If you are looking for a corner of the Internet that is just grumpy enough to make you smile without being the incessant torrent of vitriol which is current events-themed social media feeds, you can do worse than the Jalopnik website. Here, curmudgeonly car enthusiasts throw a wet blanket on the latest trends that… Read More »
Despite Recently Enacted Protections, Medical Debt Can Mess You Up
The medical debt crisis in the United States is not new. The cost of healthcare, even for Americans with health insurance, has been unaffordable for decades. Three years into the COVID-19 pandemic, the panic has subsided, and almost everyone you know has been infected with COVID, vaccinated against it, or both, but the economic… Read More »
Yikes! Florida Can Suspend Your Driver’s License Just Because You Can’t Pay Your Debts To The Court
Everyone you know would probably balk at the idea of imposing criminal penalties on people for unpaid debts; in the popular imagination, debtors’ prisons belong to a Dickensian dystopia, which is where they belong. Despite this, there are plenty of ways in which the law punishes people for being poor. First, despite recent measures… Read More »
Unglamorous But Effective Workarounds For The Cycle Of Poverty
The fact that you are in debt is largely due to factors beyond your control. Even if you have forgone all nonessential purchases and if you spend all of your time either working to earn money or seeking out discounts so you can spend as little of it as possible, it is virtually impossible… Read More »
3 Ways That People Sabotage Their Own Efforts To Get Out Of Debt
Getting out of debt is much harder than it sounds. Even if you made a budget at the beginning of 2022 and did not exceed your spending on any of the budget categories for the whole year, you are probably still in debt. In the best-case scenario, your disciplined spending enabled you to increase… Read More »
Don’t Panic If You Can’t Afford To Pay Your Taxes
Another year in the gig economy has gotten far enough that the deadline for filing income tax returns is approaching. Without your income from gigs, you wouldn’t even be able to survive paycheck to paycheck; your debt situation would just be in free fall. Your gig income enables you to keep up with your… Read More »
How Much Does Drunk Shopping Contribute To Americans’ Debt Problems?
What is the worst thing you do with your smartphone, the worst app you can open, when you know that you have had enough to drink for one night, but alcohol is no match for revenge bedtime procrastination? Is it scrolling down through your text messages until you find the last message you received… Read More »
Consumer Financial Protection Bureau Takes Legal Action Against Debt Collection Company That Engaged In Illegal Debt Collection Practices
The law protects consumers against unfair and abusive debt collection practices by creditors and collection agencies, but despite this, debt collectors still often try to get away with being pushier and less honest than the law requires them to be. Every year, the Consumer Financial Protection Bureau (CFPB) receives many thousands of complaints from… Read More »
Treat Timeshares Like Just Another Debt To Get Out Of As Safely As Possible
A disproportionate number of timeshare properties are located in Florida, even though not everyone who has bought vacation time in them has ever laid eyes on these properties. People who have recently moved to Florida, or have recently come of age in Florida, are especially vulnerable to the deceptive tactics used to sell interest… Read More »
Lenders Routinely Overcharge Military Personnel More Interest On Loans Than They Owe
If you read enough personal finance advice, a trend emerges. If you call your utility providers, you can often lower your monthly bills just by asking politely and persistently. Hospitals are often willing to negotiate directly with uninsured patients and charge them an amount that, while still financially burdensome, is a lot less than… Read More »