Get Out of Debt Guy, Raleigh, NC (2026)

01/16/2026

If you're drowning in credit card debt, the latest news about how paying more than the minimum often just delays the inevitable will hit home for you. This affects you if you're struggling with an overwhelming balance, especially if it's over $80,000. Many believe that paying more than the minimum will help, but the math doesn’t support it.

In a recent discussion, it was revealed that if you have more than $80,000 in credit card debt, just paying more than the minimum can still leave you paying back over $120,000 in four years. That's a huge number, especially if things don't go perfectly. For many, just trying to keep up feels like being on a never-ending treadmill, and I completely understand the stress that puts on you.

Instead of getting trapped in this cycle, it's crucial to explore other options like settlement or bankruptcy, which might help eliminate your debt in as little as 18 months. The emotional toll of living with this kind of debt can be heavy, but you're not alone, and there are viable paths forward.

Here’s what you can do right now:
- Call a local credit counselor to discuss your options and find a plan that suits your situation.
- Research bankruptcy and debt settlement options to understand their pros and cons.
- Start documenting your financial situation, including debts, income, and expenses, to get a clear picture of where you stand.

I've been monitoring credit card debt issues for nearly 30 years, and I know how challenging this can be. It’s vital to remember that there are better strategies than just paying more each month. You deserve to feel relief from this burden.

Steve

I want to hear from you on this one. Have you ever felt overwhelmed by your debt? If you want to dig deeper and read more -> https://getoutofdebt.org/230094/pay-more-than-minimum-fails-80k-debt

01/16/2026

This news affects you if you rely on the Consumer Financial Protection Bureau to protect you from unfair practices in finance. Right now, there’s a chance this essential agency could face significant legal challenges that may limit its ability to help consumers like you.

The Consumer Financial Protection Bureau (CFPB) just secured emergency funding that allows it to operate until March 2026. But it’s still in hot water, facing multiple legal battles that could put its future at risk. If the CFPB disappears, you'll lose one of your most important shields against predatory debt collectors and misleading credit repair scams.

You deserve a safe space to manage your finances, and this agency works to ensure you’re treated fairly by financial institutions. Losing the CFPB would mean more opportunities for bad actors to take advantage of consumers struggling with debt. No one wants to be caught up in scams or unfair practices, especially when you’re already under financial stress.

Here's what you can do right now:
- Stay informed about the CFPB's status and how it relates to your financial rights.
- Educate yourself on how to spot warning signs of debt scams, like aggressive sales tactics or promises that seem too good to be true.
- Reach out to local consumer protection agencies or nonprofits for support if you feel overwhelmed by debt or facing predatory practices.

I've been watching the ups and downs of consumer protection for decades, and I know how important it is for you to have help when dealing with financial stress. You shouldn’t feel alone in this; there are resources out there to aid you.

Steve

I want to hear from you on this one. What are your thoughts on the importance of the CFPB's role in protecting consumers like you? If you want to dig deeper and read more -> https://getoutofdebt.org/230084/cfpb-funding-crisis-2026-consumer-protection

01/16/2026

Claiming Social Security at the wrong time could cost you big bucks, and it’s more urgent than ever to get it right. If you're nearing retirement or planning your future, you need to know about the recent advice from financial expert Dave Ramsey, who suggests claiming benefits early at age 62. It sounds tempting, but research shows that over 90% of Americans would actually benefit more by waiting until age 70.

Here’s why this matters: Claiming Social Security early might seem like a good idea, especially if you need cash now. But the National Bureau of Economic Research found that the median household would miss out on a staggering $182,370 in lifetime benefits if they do. That’s money you could use for healthcare, travel, or simply enjoying retirement. Taking the time to plan can make a significant difference when it comes to your long-term financial stability.

So, what can you do about this advice?
- Consider running your own numbers. Use a Social Security calculator to see how waiting affects your benefits.
- Talk to a financial advisor who can help you understand your options based on your personal circumstances.
- Reach out to family and friends who are facing similar decisions; sharing information can lead to better outcomes for everyone involved.

I've been helping people navigate these tough financial waters for nearly 30 years, and I understand how overwhelming these decisions can feel. The right choice isn't always easy, but taking the time to gather information will set you on the right path.

Steve

I'd love to hear your experience with this. At what age do you think you'll claim your Social Security benefits? If you want to dig deeper and read more -> https://getoutofdebt.org/230091/dave-ramsey-social-security-62-wrong

01/16/2026

Debt collection scams are on the rise, and this could directly affect you if you're dealing with any type of debt. Vermont's Attorney General just reported that these scams have reached #2 on the state's 2025 Top 10 Scams list, meaning they're a real threat. Scammers are posing as legitimate collectors, using tactics like threats of arrest and demands for immediate payment to manipulate you.

It's crucial to understand how these scams work so you can protect yourself. Many people are already stressed about their finances, and the last thing you need is to fall prey to someone trying to take advantage of your situation. Real collectors have strict rules they must follow, including not threatening you or demanding immediate payment without providing detailed information about the debt. Knowing your rights can help you stay calm if you get a suspicious call or letter.

Here’s what you can do right now to protect yourself:
- Verify the debt: Request a written notice from the collector stating the debt details before taking any action.
- Know the law: Familiarize yourself with your rights under the Fair Debt Collection Practices Act to better recognize illegal tactics.
- Hang up if you feel threatened: Trust your instincts. If something feels off, don’t hesitate to end the conversation and seek advice from a financial expert.

I've been watching the evolution of debt and consumer protections for decades, and I know it's a frustrating space. This advice could save you from falling into a costly trap.

Steve

I’d love to hear your experience with this. Have you ever encountered a debt collector who used questionable tactics? If you want to dig deeper and read more -> https://getoutofdebt.org/230087/debt-collection-scams-vermont-2025-report

01/16/2026

If you’re someone with student loans, this new tax rule could hit your wallet harder than you expect starting January 2026.

The recent change to student loan forgiveness means that if your loans are forgiven through an income-driven repayment plan, it will now be considered taxable income. For example, if $50,000 of your debt is erased, you could owe about $10,850 in taxes. This can be overwhelming, especially for those already stressed about finances and trying to make ends meet.

You need to be aware of how this impacts your financial future. Being hit with a big tax bill could mean dipping into savings or finding ways to pay this unexpected expense. With rising living costs, planning for this tax now is crucial to avoid a financial scramble later on.

Here’s what you can do right now:
- Talk to a tax professional about how this change could affect you and what precautions to take.
- Start budgeting this potential tax bill into your financial plan for 2026 so it doesn’t catch you off guard.
- Explore options for lowering your taxable income, such as contributing to a retirement account.

I’ve been watching student loan policies for decades, and I know how confusing and stressful this can all feel. While this new change isn't fair, understanding your options can help you prepare better.

Steve

I want to hear from you on this one. Are you concerned about how this new tax rule might affect you? If you want to dig deeper and read more -> https://getoutofdebt.org/230044/student-loan-forgiveness-is-now-taxable-what-it-means-for-you

01/15/2026

If you're struggling with student loans, there's important news that could change your repayment game in just a few years. Starting July 2026, a new repayment option called the Repayment Assistance Plan (RAP) will take effect. This affects you if you’re currently on income-driven repayment plans or even considering returning to school.

So, what does the new RAP mean for you? This plan allows you to pay 1-10% of all your income toward your student loans. This could be a lifesaver if you've found it hard to keep up under the current plans. After 30 years of making these payments, your loans will be forgiven. That means if you’re stressed about high payments, there’s light at the end of the tunnel.

It's crucial to stay alert because predatory companies often make false promises about loan forgiveness. They may try to convince you to pay for help you can receive for free. Knowing your options can empower you to make better financial decisions and protect yourself from scams.

Here's what you can do right now:
- Research the new RAP details online to understand how it will work for you.
- Get your current loan balance and interest rates together to see how RAP could benefit you.
- Talk to a trusted nonprofit credit counselor who can help you navigate these changes.

I've been watching the world of student loans for decades, and I've seen many changes. This new plan could make a significant difference for many, but you have to stay informed and proactive to benefit from it.

Steve

I want to hear from you on this one. Are you feeling hopeful or stressed about these upcoming changes? If you want to dig deeper and read more -> https://getoutofdebt.org/230050/new-rap-repayment-plan-launches-july-2026-what-it-means-for-student-loans

01/15/2026

Nearly a quarter of Americans don’t have any savings for emergencies, and this reality could be a big wake-up call for you right now. If you’re like most people, one unexpected expense—like a car repair—can send your whole financial plan into chaos. This situation is not just a statistic; it’s a reminder of how fragile our finances can be.

According to a recent Bankrate report, 24% of Americans report having zero emergency savings, and just 41% say they could afford a $1,000 expense from their savings. This shows that many of us are living on the edge, relying on credit or loans for unexpected costs. If you find yourself in this group, it's important to understand that you’re not alone and there are steps you can take to build some financial cushion.

The lack of emergency savings impacts not only your financial security but also your mental peace. The stress of worrying about how to handle an unexpected bill can be overwhelming. You deserve to have that comfort and stability in your life, which starts with building an emergency fund.

Here's what you can do right now to improve your situation:
- Start a small savings account and deposit even a little money each month.
- Review your monthly expenses and look for areas to cut back, then redirect those funds to your savings.
- Make a plan to set aside any bonuses or tax refunds specifically for emergencies instead of spending them.

I've been helping people navigate their financial challenges for nearly 30 years, and I know that building savings may feel daunting, but it’s absolutely possible. Start small, and let each step give you more control over your financial future.

Steve

I want to hear from you on this one. How do you feel about your current savings situation? If you want to dig deeper and read more -> https://getoutofdebt.org/230054/24-of-americans-have-zero-emergency-savings-what-the-2025-data-shows

01/15/2026

AI voice cloning scams have surged by 400%, and this is a concern for you and your family right now. If you think your loved ones are safe from fraud, think again. One in four Americans has already been targeted, and fraudsters only need a few seconds of recorded audio to impersonate someone you trust.

These scams are alarming because they can make it seem like your friend or family member is asking for help—maybe even financial assistance. Imagine receiving a call from someone who sounds exactly like your best friend asking for money, and you don’t realize it’s a scam. That’s terrifying. With so many people stressed about money, the last thing you need is to fall victim to a scam like this.

Here’s how you can protect yourself and your family today:
- Educate your loved ones about voice cloning scams so they know what to look for.
- Always verify requests for money by calling the person directly on a number you know is real.
- Be cautious of sharing any personal information over the phone, even if the voice sounds familiar.

I’ve been helping people navigate financial confusion for decades, and scams like these are always evolving. Remember, you are not alone; being cautious can genuinely protect you from harm.

Steve

I want to hear from you on this one. Have you or someone you know ever encountered a suspicious call that felt wrong? If you want to dig deeper and read more -> https://getoutofdebt.org/230061/ai-voice-cloning-scams-surge-400-how-to-protect-yourself-and-your-family

01/15/2026

This affects you if you or someone you know has been struggling with debt. Recent scams targeting vulnerable individuals are on the rise, and you need to know how to protect yourself right now.

The Federal Trade Commission revealed that in 2025, they shut down a $100 million debt settlement scam aimed at veterans, highlighting a growing trend of dishonest practices. Now in 2026, scammers are using new technology, like AI voice cloning, which can trick you into thinking you're talking to a trusted advisor. These scams often promise guaranteed results or ask for upfront fees, which are illegal—real debt relief help won’t ask you for payment until they've delivered on their services.

It's crucial to be aware of these red flags. You might feel overwhelming stress when dealing with debt, and that's exactly what these scammers prey on. They take advantage of your situation by offering quick fixes that lead to more problems down the line. Remember, legitimate help doesn’t involve hefty fees upfront or promises that sound too good to be true.

Here’s what you should do today:
- Research any debt relief company you’re considering by checking online reviews and ratings.
- Ask for documentation of their services and any fees associated before agreeing to anything.
- Contact a trusted nonprofit credit counseling service for advice; they can help you sort out legitimate options.

I've been watching scams like this for decades, and it's heartbreaking to see people who are already struggling fall for these tricks. You're not alone in navigating this complicated world of debt relief—there are trustworthy resources available.

Steve

I want to hear from you on this one. What's your biggest concern when it comes to dealing with debt? If you want to dig deeper and read more -> https://getoutofdebt.org/230064/debt-settlement-scams-in-2026-red-flags-ftc-rules-and-how-to-protect-yourself

01/15/2026

If you're a small business owner in New York, this news is crucial for you right now. The New York Attorney General just secured a whopping $1.065 billion judgment against a predatory lender called Yellowstone Capital. They were disguising extremely high-interest loans as merchant cash advances, with rates as shocking as 820% APR. This means many small businesses have been unfairly burdened by debt—over 18,000 of them are now seeing some relief.

What does this mean for you? If you've ever considered a merchant cash advance, be very careful. These loans can come with hidden costs that turn into financial traps. The good news is that this victory shows that there are protections in place, but it also highlights the need to stay alert against predatory lending practices.

Here’s what you can do right now:
- Research any lender thoroughly before signing any agreement—look for customer reviews and complaints.
- Ask questions when approached with financing options. Specifically, inquire about the total cost of the loan, including interest rates and fees.
- Share this news with fellow business owners to ensure they’re aware and protected against predatory lenders.

I’ve been watching the lending landscape for decades, and it’s crucial to remember that not all loans are created equal. You deserve to understand the terms before you commit your hard-earned money.

Steve

I’m genuinely curious about your take on this. Have you or someone you know ever faced challenges with high-interest loans? If you want to dig deeper and read more -> https://getoutofdebt.org/230067/ny-ag-wins-1b-against-predatory-lender-yellowstone-capital

01/15/2026

Bankruptcy filings are on the rise, and this affects you if you're feeling overwhelmed by debt. In 2025, we saw an 11% increase in bankruptcy cases, meaning more people are struggling than ever before. You might feel anxious and unsure about what this means for your financial life, but it’s essential to understand how this trend impacts you right now.

Many Americans are choosing a clean slate by filing for Chapter 7 bankruptcy, which jumped 15% this year. This option allows individuals to wipe out a significant amount of their debt and start fresh. If you’re facing financial difficulties, know that you're not alone, and there are options available to help you regain control.

The increase in filings could be a sign of the economic pressures many people are facing. If you're living paycheck to paycheck or struggling to make ends meet, this news serves as an important wake-up call. It’s vital to take your financial situation seriously and consider your options.

Here’s what you can do today:
- Reach out to a trusted financial advisor to discuss your debt situation.
- Look into local credit counseling services that can provide you with guidance and support.
- If you've been contacted by debt collectors, know your rights under the Fair Debt Collection Practices Act, and don't be afraid to stand up for yourself.

I've been helping people navigate tricky financial situations for nearly 30 years, and I know how daunting it can feel to face overwhelming debt. Remember, seeking help is not a failure; it’s a strong step towards reclaiming your financial health.

Steve

I'd love to hear your experience with this. Have you or someone you know ever considered bankruptcy? If you want to dig deeper and read more -> https://getoutofdebt.org/230000/2025-bankruptcy-filings-up-11-what-this-means-for-you

01/15/2026

If you’re using a credit card, this news affects you right now by showing a shift in spending habits that could help you manage your debt.

For the first time in months, Americans are pulling back on credit card debt. The Federal Reserve just reported that revolving credit fell by 1.9%, which is a big deal. People are starting to realize that with interest rates above 20%, it’s becoming too costly to carry those balances. This shift is not just about numbers; it’s about taking control of your finances and avoiding the stress of falling behind.

If you’ve been feeling overwhelmed by credit card debt, you’re not alone. Many are worried about not being able to make payments and seeing their balances grow. This news might be a wake-up call to reconsider your spending habits and focus on your financial health. It’s crucial to act before high interest rates turn manageable debt into unmanageable stress.

Here’s what you can do right now:
- Evaluate your current credit card balances and make a budget to reduce spending.
- Consider paying more than the minimum payment to lower your debt faster.
- Reach out to a reputable credit counseling service if you’re feeling stuck or need personalized guidance.

I’ve been watching these trends for decades, and while this is a promising sign, it’s essential to stay proactive about your finances. Remember, small changes today can lead to big savings tomorrow.

Steve

Tell me what you think about this. Have you changed your spending habits in light of rising interest rates? If you want to dig deeper and read more -> https://getoutofdebt.org/229997/fed-revolving-credit-decrease-2026

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