Debt Free Dudes

The topic of if student loans should be forgiven is a hot topic right now. On one side people are demanding some level of forgiveness. On the other side, student loan forgiveness should not happen because it is not fair to truck drivers.

But what is the truth? In this Debt Free Dudes podcast, Damon Day ( DamonDay.com ) and Steve Rhode ( GetOutOfDebt.org ) talk about the real issues surrounding student loan debt and why the positions most have are nonsensical and won't fix the real problems.

In this podcast, we talk about real solutions to student loan debt and what should really be done to make the future better for the next generation of students that might take out loans to pay for higher education.

People are flat out confused about the announcements of student loan forgiveness that Steve talked about in his post here.

People believe their private and federal student loans may be forgiven under this widely announced settlement but as Damon says, "the devil is in the details."

Even Navient representatives have been confused about what loans are forgiven. 

In this podcast, Damon and Steve attempt to give advice, information, and feedback to help people be better prepared for the reality of this settlement with most, but not all, states.

Well, federal student loans have been put on hold until January 31, 2022, and while that sounds like a fantastic way to deal with people struggling to pay student loans, it has good points and some not-so-great features.

In this podcast, Damon Day and I talk about how not all "federal" student loans are included and the new Republican no-interest student loan act put forward in Congress.

There is so much misinformation floating about when it comes to dealing with debt. Far too many people tell you bankruptcy is a last resort or you should avoid bankruptcy. But here is the ironic thing, that is often the worst advice possible.

In this podcast, Damon Day and I talk about bankruptcy, myths and assumptions about bankruptcy, and how to deal with the debt collector if you fall behind on payments.

The big lesson here is not to believe everything you think but to do your homework and find out what the facts are so you can make the best decision for yourself or a friend that is facing money troubles.

The issue today is that there seem to be so many conflicting stories and so much misinformation about student loans, people have become frustrated.

Student loans are a major problem for most of our listeners and the nation. Not only are they unaffordable but they are also dragging down all consumers with higher prices, and they have created a large number of borrowers who have no choice but to stay in limbo, not knowing whether to pay their loans or how to do so when penalties and other roadblocks are built into the system.

People just want to know how they can know what their options are without being scammed or sold something.

Today we talk about the student loan limbo and ways to get out of it.

Today Damon and Steve talk about three quick topics. The first is a reader comment from our last podcast on debt validation. Danny sure is irritated by the podcast. Next, we talk about the termination of financing agreements for student loan assistance services. Finally, we discuss how the FTC is sending refund checks to people that were suckered into a business opportunity.

Today Damon Day and I get stupidly silly laughing and complaining about the ridiculousness of the Public Service Loan Forgiveness program that was intended to forgive student loans for firefighters, police officers, teachers, low-income lawyers, military service members, and more.

In this podcast, Damon Day and I talk about why debt validation isn't really the magic solution some companies try to sell to consumers. There is much more to know about debt validation before you just leap at the incredible sales pitch.

If you think debt validation is the way you'd like to take care of your debt, that's great. But before you leap at the sales pitch, at least understand the pros and cons of debt validation so you can make the best and most informed decision to feel confident debt validation is right for you and or your family.

You can read the full show transcript here.

I talk with Steve Rhode about the mess that will happen with the end of FedLoan Servicing and why sometimes you need to take a step back before making decisions about dealing with your debt.

This time Damon Day and Steve talk about debt settlement. Or at least that's what the podcast was supposed to focus on. It didn't take long before it ran off the rails.

But the show covers:

• What is debt settlement?
• What debt settlement is not.
• Is debt settlement always the best solution?
• Does debt settlement impact my credit?
• What are the facts about debt settlement?
• How do my debts get settled?
• Do creditors participate in debt settlement programs?
• What will my debt settlement payment be?
• Why debt settlement is like jumping out of an airplane.
• Does a debt settlement sales person consider my financial situation?
• What is the debt settlement representative really doing when I call?
• Who decides if debt settlement is right for me?
• What should you consider to solve your money troubles?
• How can someone in debt make a smart and intelligent decision about how to deal with their debt?
• What happens when you call a debt settlement company, credit counseling group, and a bankruptcy attorney?
• What is the right solution for my debt situation?
• A bankruptcy confession. What it was really like.
• Tax consequences of debt settlement.
• When is debt settlement a great option?
• What if I want to repay my creditors as promised?
• The best process for deciding how to tackle your debt problem.
• What are debt settlement, debt negotiations, debt intervention, debt validation?