Let’s Throw Some Money at Our Problems: January 2015 Check-in

Pull up those balances!

Love and Debt in a Nearly-Dissolved Marriage

My husband should have known what he was getting into.

My Debt Problem Began With a Wallet

I applied for my first credit card during my junior year of college. The application required an annual salary, which I didn’t have. But not having an annual salary wasn’t an option, so I checked the box indicating $100,000-$120,000. I justified the lie with the internal argument that my father’s income at the time must have been about that—or so I then suspected. I must have been wrong, though, since my father declared bankruptcy two years later. But this is about me and my money mess, not his.

Let’s Throw Some Money at Our Problems: December 2014 Check-in

Pull up those balances!

Trying to Pay Off Debt and Falling Off the Wagon (As We Do Sometimes)

Mike: We’re going to do a monthly debt check-in later today. Let me know what your new balance is. Logan: It's gone up.

Let’s Throw Some Money at Our Problems: September 2014 Check-in

It's time to check in on our debt payments and savings goals again. If you're joining us for the first time, you can read about our decision to publicly keep track of our debt here.

Me, My Dad, And My Credit Card: A Timeline

I’ve been a card carrier for a little over a decade now. My father, a child of Depression-era parents, has instilled in me to never live beyond my means, and to only use my credit card for emergencies.

How A Sticky Note Helped Me Get Out of Debt

It did not take the newest financial planning app to get me out of debt. It did not take a large cash windfall or death of some mysterious, wealthy relative who I'd never met. It was a lot more low-tech than that.

Magic Words That Will Save You $$$

Jake Halpern’s noir-ish story in the NYT Magazine about debt collection is scarier than Sin City. Poor Theresa! (We are all Theresa.)

there was little that Theresa could do; she had paid off her debt to the wrong collectors and had fallen into the debt underworld. If anyone was going to help her, it wouldn’t be the state attorney general, or the Better Business Bureau, or the F.T.C., or even the police, but the former banker and the former armed-robber who bought her debt.

The most valuable takeaway from the piece, as underlined by an interview Halpern gives Ira Glass on “This American Life,” though, is that a few magic words can make the whole nightmare go away.

Jake Halpern: [The lawyer] said, oh, well, when a consumer actually shows up in court and says the magic words, then these cases basically evaporate. And I say, the magic words? He says, yeah. Show me the evidence.

Ira Glass: Show me the evidence. In other words, show me where you got this number, $3,762.20. The Georgia Legal Services lawyer told Jake that if you’re standing before a judge and you say, OK, I don’t recognize this amount that you say I owe, and I want to see some documentation, I want to see account statements or whatever, because I have no way to know with certainty that this debt is really mine, the judge will usually turn to the other side and ask for the evidence. And in all likelihood, they’ll have no documentation and they’ll drop the case. And this is true not just in Georgia, but elsewhere. Because the way this business works, Jake says, when credit card companies sell these IOUs to debt collection companies, they usually don’t give them any documentation. Usually they just give them a spreadsheet with a long list of people who owe money on their credit cards and their addresses and the last payment and how much they owe, and not a whole lot more than that.

Amazing!! You have the right to remain silent, America, or to use the magic words that will set you free. Think you’ve got it down? Test your skills by playing the game!