6 Thoughts on Bankruptcy

May 19, 2017

 

Bankruptcy.  It’s a word that evokes a lot of differentgavel and scale emotions and responses.  “It’s a cheap way to get out of debt.”  “Or perhaps it’s the fresh start someone needs.”  “But if they hadn’t gotten themselves into debt in the first place.”  “Then again, they didn’t choose to get sick and end up with the medical bills they have.”  “I pay my bills so why can’t they?”  “I can’t pay my bills so what’s wrong with me?”

The comments could go back and forth for ever and certainly have since the advent of bankruptcy.  In reality, bankruptcy is not the right answer for everyone, but it may be the best option for some.  It’s not always an easy choice to make. Read the rest of this entry »


“If I Were A Rich Man…”

May 11, 2017

“If only I made more money.”  “Life would be so much easierEmpty Wallet if there was just more in my paycheck.”  “I would love to have enough to not have to worry about money.”  Let’s be honest.  We’ve all made these comments before.  Just like Tevye in “Fiddler on the Roof”.  He sang “If I were a rich man, Yubby dibby dibby dibby dibby dibby dibby dum.”  It all sounds great.  Unfortunately, every last one of them is a lie!  Read the rest of this entry »


The Pain of Minimum Payments

January 12, 2017

 

How was Christmas?  Did you have a good holiday?  More importantly, did you make everyone else’s Christmas great?  Perhaps you did, but now you are left in the doldrums of January.  It’s rough.  All of the expenses of the holidays are now coming due as the credit card bills come in.  But, hey.  That’s the benefit of using a credit card, right?  You get time to pay that sucker off.

Uh, let’s talk about that plan. Read the rest of this entry »


Finally Some RELIEF!!!

November 1, 2016

 

You have HOW MUCH in student loan debt?!?  Well, did you know you can pay a mere $5 a month for the next year and then have the rest of your debt wiped away?  Wouldn’t that be great?  Only $60 paid and no more student loans!  This would be great, but is also only going to be true if you only owe a total of $60 in student loan debt.

I can’t even count the number of student loancomputer-hacker “forgiveness programs” we have heard of in our office.  Just type in a search on the internet and you will be overwhelmed with the options laid out before you.  For some reason, they like to throw Obama’s name into the mix and think it will make it all legit.  Uh……. yeah, no. Read the rest of this entry »


The Face of Credit Card Debt

March 11, 2016

“Credit cards – good, bad, or evil?”  I love asking that question in my classes.  I’m a certified consumer credit counselor.  I’ve seen a lot.  Of course I’m going to tell you credit cards are of the devil.  They are nasty, money stealing, credit destroying, freedom ending pieces of plastic.  They are ‘the man’ out to get you and if you have one you are nothing more than a minion of that system.  Right?  At least that’s what most people expect me to say. Read the rest of this entry »


The Reality of What Credit Counseling Really Is

November 30, 2015

I’m often asked exactly what we do when people come in for credit counseling.  Unfortunately, few enough people have been to a credit counselor that it is a very legitimate question. angry businessman So here’s the answer: we dig through all of your history (business, personal, and otherwise), point out every mistake that you’ve made, belittle you for those mistakes, paint a pretty hopeless picture for your future, and then lecture your children on how they should never turn out like you because of what you have done financially.

Sound like fun?  Now that we have all of those misconceptions out of the way, let’s talk about what credit counseling is really like…..

Read the rest of this entry »


Night of the Living Dead Debt

October 29, 2015

I have to admit, I’m not really a big Halloween fan. Sure, I loved it as a kid. There was all of the candy, the class party, all of the candy, a later evening out trick-or-treating, and then there was all of the candy. But now? Ehh. I think it’s the whole zombie invasion thing that bugs me. Seriously? The living dead? There really are people out there preparing for the zombie apocalypse as if it were more imminent than the threat of snow this time of year. (If you weren’t in eastern South Dakota, we got our first round of snow yesterday.) And this seems to be their holy day of the year, the big blood festival.  Come on people!  REALLY?!? Read the rest of this entry »


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