Categories
Education Finances

A Question About Debt

There is a lot of discussion about how to handle student debt these days. When I came online this morning, I received the screenshot of the above tweet along with a question (abbreviated for clarity):

“I have $XX,XXX in student debt from a college that forced me to leave when I became pregnant. Despite the fact that they refused to allow me to attain my degree, they still charged me. I cannot complete my education until my debt is paid in full because my original college refuses to release my transcripts, and I cannot find a job that pays enough to eliminate the debt without that degree. What can I do?”

I don’t know. I volunteered to write this post in hopes of finding someone who does.

Debt is growing ever more common in our society. In the second quarter of 2019, consumer debt was listed at $13.86 trillion. While I refuse to get into the reasons behind this massive number, today I would like to ask you a question:

Can we fix this? And if we can, HOW?

I think we can all agree that the debt situation has become a problem. Student debt alone has reached the point where politicians are using it as a weapon to gain more votes.

The book Plutocrats even discusses how people in the finance industry have profited from this debt. In an earlier post, I even discussed the multi-million dollar paycheck that a single CEO in the credit card industry has attained.

Back in the age that the Old Testament of the Bible was written, Israelites were ordered to cancel all debts of their fellow man every seven years. The text excludes foreigners, but Deuteronomy 15:1-6 is a fascinating solution to the issue of debt at hand. Here is a direct quote from the start of the passage:

“At the end of every seven years you must cancel debts.” – Deuteronomy 13:17, NIV

For the record, I do not have debt. Therefore, I feel that I have no right to contribute to this discussion. That said, the massive amounts of debt that our populace has incurred warrants attention.

If you could propose a solution to the massive amount of debt our nation’s populace is facing, what would you propose and why? Please share your answers in the comments below.


It is hypocritical to run a website about buying and living on less while begging your readers to buy your crap so I refuse to do it. That said, I live on the money I receive from book sales, so if you can find it in your heart to pitch in I would be immensely grateful.

I’ve written a lot of books sharing my odd view of life in hopes of helping others. My most notorious book is titled The Shoestring Girl: How I Live on Practically Nothing and You Can Too, but The Minimalist Cleaning Method is pretty popular as well. You can find them at the following places:

Amazon
Barnes and Noble
Apple iBooks
Smashwords (non-DRM)

Thank you for your support!

Categories
Finances

Bill Collectors

Several months ago I received a phone call. It was a debt collector, claiming that I owed money on an old debt.

Since I’ve been living and writing about the stupidity of debt for a decade, I was skeptical. Even if I did happen to owe something to someone that I magically didn’t remember, that debt would have fallen off of my credit report years ago.

“You do realize that you’re talking to a woman who preaches against credit, right?” I informed the man when I stopped laughing. “I’ve been writing books and articles condemning credit for a decade. Now, tell me just why you believe this debt is mine.”

He did. He claimed that I had opened a credit card over a decade ago and then stopped paying on it some time later. I asked him for the address where I lived when I had the card.

I hadn’t lived in that house for twenty years and I told him as much. “Unless you can give me an address where I’ve lived within the legal statute of limitations on debt, I’m going to have to conclude that this is a scam,” I informed him calmly.

He couldn’t. The man didn’t have a single address for me other than the original one he mentioned.

I didn’t take out a credit card when I lived at that address. I was far too broke at the time to even consider it.

The man huffed and informed me that the debt would damage my credit rating and haunt me for X more years. I laughed. “Do your worst. I don’t own a house, I don’t even own a car, so I have nothing you can place a lien on. So unless you can supply me with valid proof that this debt is mine, I’ll just take my chances. I don’t use credit anyway.”

The man promised me that he would send the information on. I gave him my current address and told him I would look for it.

That was several months ago. I’ve not received a single thing.

Since then I’ve done a bit of research on bill collectors. There’s a scam going on where companies will create completely false debts in hopes that the marks will pay. Here is one particular article that I found rather interesting on the subject.

This is just one reason why I don’t believe in using credit. Not only do you pay a ridiculous amount of money for the ability to live above your means, you open yourselves up to predators who steal your information and attempt to bully you into paying on debts you don’t actually have.

Be warned, folks.