Every time you open TikTok, Instagram, or Facebook, there’s another slick “debt relief” ad chasing you around. Secret government programs. Guaranteed 80% reduction. Gurus in rented Lamborghinis who “paid off $80,000 in six months.” In this episode, Steve Rhode—the old, authentic, original Get Out of Debt Guy—and the new Get Out of Debt Guy, Damon Day, pull back the curtain on the hidden traps in debt relief marketing you’re being targeted with right now.

Steve and Damon deconstruct real-world tactics used in debt relief ads and social media videos: fake government program language, illegal upfront fees, emotional scare tactics about wage garnishment, phony “last chance” deadlines, and TikTok/Instagram influencers quietly getting paid to push risky debt settlement programs. You’ll hear how marketers weaponize fear, shame, and hope to sell credit card debt relief, student loan help, and consolidation plans that often leave people worse off.

You’ll also learn how to tell the difference between a legitimate option—like nonprofit credit counseling, real debt settlement, or bankruptcy—and a high-pressure sales funnel disguised as financial advice. If you’ve ever wondered whether that “new 2025 federal debt relief program” in your feed is real or just another scam, this episode will show you exactly what to look for before you click, call, or hand over your bank info.

For honest, no-BS help with debt, visit:

https://getoutofdebt.org

To talk with Damon directly about your specific situation, go to:

https://damonday.com

In this episode of The Get Out of Debt Guy Podcast, Steve Rhode — the original Get Out of Debt Guy — and co-host Damon Day dig into two big money topics you’ll want to hear. First, they tackle the controversial idea of a 50-year mortgage, explaining how a slightly smaller monthly payment could actually cost homeowners hundreds of thousands more over time — and why a 50-year adjustable-rate mortgage could be financial quicksand.

Then, they pivot from long-term debt to day-to-day savings, showing how you can use ChatGPT to shrink your grocery budget by turning what’s already in your kitchen into real meal plans. Plus, an entertaining Meaty Mamma update—because personal finance doesn’t always have to be serious to be smart.

Links:

💡 Read more at GetOutOfDebt.org

🎙 Connect with Damon at DamonDay.com

Steve Rhode — the old, original Get Out of Debt Guy — and the new Get Out of Debt Guy, Damon Day, break down the headlines behind AI, layoffs, and automation without the hype. If you’re worried about job security (especially in white-collar or repetitive roles) and you’re carrying debt, this episode gives you a calm, practical game plan: how to reskill, where to start with AI tools, and the exact money moves to protect your household if the pink slips start flying.

We cover:
• Why AI is a personal finance issue, not just a tech story
• What to do today to stay employable: upskilling, side income, networking
• Debt triage in an uncertain job market: cash buffer vs. extra payments, when consolidation, settlement, or bankruptcy makes sense
• Cutting burn rate fast, building an emergency fund, and avoiding 401(k) raids
• Real talk on gig work (short-term cushion), “safe jobs,” and becoming AI-augmented at work

Resources & help:
• Read more at GetOutOfDebt.org: https://getoutofdebt.org
• Get 1-on-1 coaching with Damon: DamonDay.com https://damonday.com

Steve Rhode — the original Get Out of Debt Guy — and Damon Day — the new Get Out of Debt Guy — break down the real-world pros and cons of accepting a credit-card debt settlement. We explain why banks won’t deal early but suddenly send settlement letters before charge-off, how “settled for less than full balance” impacts your credit report, and what the IRS does with forgiven debt (hello, 1099-C). We also demystify IRS Form 982 (insolvency) — when it can eliminate income taxes on canceled debt, and why you might owe taxes once you’re no longer insolvent. Plus: timing mistakes to avoid, when bankruptcy may be cleaner than multi-year settlements, and how to build a plan that wins the war—not just one battle.

Explore more at https://getoutofdebt.org

Got questions or want a custom game plan? Damon can help: https://damonday.com

Is college still worth it — or are we all buying into one of the most expensive myths in America? In this episode, Steve Rhode — the old, original Get Out of Debt Guy — and Damon Day — the new Get Out of Debt Guy — break down what nobody tells you about college debt, trade schools, and real financial ROI.

They dig into:

🎓 The shocking truth about student-loan default rates

💸 Why a two-year trade or vocational program may beat a four-year degree

🚗 How Uber and other companies are now paying for college

🤖 The future of work in the age of AI

🧠 And how to make smarter money moves for your kids — and yourself

If you’ve ever wondered whether college is still a smart financial decision, this episode will open your eyes — and maybe save you decades of debt.

👉 Visit https://getoutofdebt.org for Steve’s full breakdown of college ROI and student-loan traps.

👉 Need personal help getting out of debt? Reach Damon at https://damonday.com.

In this heartfelt episode, Steve Rhode — the original Get Out of Debt Guy — and Damon Day — the new Get Out of Debt Guy — talk about The Meaty Mama, a hardworking YouTube creator juggling gig work, family, and $50,000 in debt. Steve and Damon explore the emotional and financial challenges she faces, including burnout, unstable gig income, and whether selling her condo is really the answer.

Together, they unpack what it means to rebuild your financial life without shame — highlighting compassion, smart strategy, and forgiveness over fear. This episode goes beyond quick-fix advice and looks at how personalized financial recovery can help you protect your assets, your health, and your hope.

Read more at https://getoutofdebt.org and connect with Damon for a free consultation at https://damonday.com.

In this heartfelt episode, Steve Rhode — the original Get Out of Debt Guy — and Damon Day — the new Get Out of Debt Guy — talk about The Meaty Mama , a hardworking YouTube creator juggling gig work, family, and $50,000 in debt.

Steve and Damon explore the emotional and financial challenges she faces, including burnout, unstable gig income, and whether selling her condo is really the answer.

Together, they unpack what it means to rebuild your financial life without shame — highlighting compassion, smart strategy, and forgiveness over fear. This episode goes beyond quick-fix advice and looks at how personalized financial recovery can help you protect your assets, your health, and your hope.

Read more at https://getoutofdebt.org and connect with Damon for a free consultation at https://damonday.com.

The post we talk about in the podcast is The Comprehensive Case Against “The Dave Ramsey Way Is The Only Way”

In this episode, Steve Rhode — the original Get Out of Debt Guy — and Damon Day — the new Get Out of Debt Guy — open up an honest, thoughtful conversation about debt, forgiveness, and financial recovery.

Inspired by Steve’s new article The Comprehensive Case Against the “Dave Ramsey Way is the Only Way”, this discussion isn’t about tearing anyone down. It’s about opening up the conversation. Dave Ramsey has helped millions of people, and his principles work for many — but as Steve and Damon explain, personal finance is never truly “one-size-fits-all.”

This show invites listeners to think critically, explore all their options, and make informed decisions that fit their unique lives and values. Whether you’re following the Ramsey plan, considering bankruptcy, or somewhere in between, this episode encourages healthy questioning and balanced perspective — because good financial advice should empower, not shame.

Visit https://getoutofdebt.org to read the full article and more debt-free resources.

Need personalized advice or a judgment-free conversation about your options? Damon offers free consultations at https://damonday.com.

In this episode, Steve Rhode (the old Get Out of Debt Guy) and Damon Day (the new Get Out of Debt Guy) dig into one of the most common fears people have about money: “If I stop paying my credit cards or personal loans, can I go to jail?”

We separate fact from fiction, explain why debt misfortune isn’t fraud, and share the real consequences of missed payments. Damon introduces his “shoot the hostage” analogy about credit scores, Steve recalls stories from bankruptcy courts, and together they tackle the mental health toll of financial anxiety.

We also expose how scammers pretend to be law enforcement to trick people into sending money, and why fear is the number one weapon used by both shady collectors and fraudsters.

If you’ve ever lost sleep worrying about debt collectors, credit scores, or the fear of arrest, this episode will give you clarity — and a plan forward.

👉 Learn more at https://getoutofdebt.org

👉 Talk directly with Damon at https://damonday.com

Is it worth pulling money from your 401(k) to wipe out credit card debt charging you 20% or more? In this episode of The Get Out of Debt Guy Podcast, Steve, the original Get Out of Debt Guy, and Damon Day, the new Get Out of Debt Guy, break down the real trade-offs.

We tackle the emotional relief of paying off high-interest balances versus the cold math of lost compounding, penalties, and taxes when you tap into retirement savings. With credit card APRs climbing above 20%, and some people paying over $1,000 a month just in card payments, it’s no surprise more Americans are tempted to borrow from or cash out their 401(k).

Steve and Damon debate whether raiding retirement accounts to pay credit cards ever makes sense, share horror stories of people who never put the money back, and explain why a strategic plan—not a panic move—is the only way forward.

Learn about:

• Why a $10,000 401(k) loan today can cost you nearly $70,000 in lost growth over 20 years.

• What really happens if you lose your job while carrying a 401(k) loan.

• Smarter alternatives to tapping retirement funds, from side hustles to defensive debt strategies.

• When a 401(k) withdrawal might be the last option—and how to avoid disaster if you go that route.

Don’t make a decision based on fear or a sales pitch. Separate emotion from math and protect your financial future.

👉 Visit https://getoutofdebt.org for more insights from Steve.
👉 Work with Damon on a personalized plan at https://damonday.com