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
Losing your job can feel like the floor’s been pulled out from under you—but there are steps you can take right away to steady your finances and protect your future. In this episode of the Get Out of Debt Guy Show, Steve Rhode (the original Get Out of Debt Guy) and Damon Day (the new Get Out of Debt Guy) break down what to do first when you’re laid off, terminated, or facing a sudden loss of income.We also tackle a listener’s question: If your loan is sold to a collection agency, does that mean you don’t owe the debt anymore? Damon shares a wild personal story about fighting Citibank in court, and Steve explains why documentation and planning matter more than online myths.From managing credit cards and unemployment benefits, to side hustles like DoorDash and Instacart, this conversation is packed with real-world strategies to avoid common mistakes when income stops.💡 Want help with your unique situation? Damon can be reached directly at DamonDay.com.📚 More resources and guides at GetOutOfDebt.org.
Prices are climbing faster than paychecks—and families feel the squeeze. In this episode, Steve Rhode (the old Get Out of Debt Guy) and Damon Day (the new Get Out of Debt Guy) break down the real-world cost pressures hitting households right now: cost of living vs. wages, shrinkflation at the grocery store, Instacart/app markups, rent and housing costs, electricity rising faster than inflation, insurance premiums, and high-interest credit card debt.We keep it plain-English and practical: why this is happening, how it shows up in everyday budgets, and realistic steps to protect your cash flow (cutting debt, smarter shopping, avoiding app markups, and building savings so your future isn’t on a treadmill). Plus, a candid chat about retirement math—why “$7,000 a month” won’t buy in 10–20 years what it buys today—and how getting out of debt sooner can change your entire trajectory.Helpful links:• Get more free help and guides: GetOutOfDebt.org — https://getoutofdebt.org• Talk with Damon one-on-one: DamonDay.com — https://damonday.com
Life’s more expensive than ever, and once you’ve cut back on extras, the only way forward is to earn more. In this episode of Get Out of Debt Guy, Steve Rhode talks with Damon Day—the new Get Out of Debt Guy—about how to turn evenings into real money using gig apps like DoorDash, Uber, Instacart, and Amazon Flex. Damon shares the playbook he personally uses to bring in serious side hustle income each month: multi-apping strategies, smart route planning, power blocks, and safety tips for working after dark. They also tackle common objections—from gas costs to burnout—and show how to make the gig economy work for your wallet instead of against it.Visit https://getoutofdebt.org for more insights, and reach Damon directly at https://damonday.com.
Divorce isn’t just the end of a relationship — it’s often the start of a financial nightmare. In this episode, Steve Rhode, the original Get Out of Debt Guy, and Damon Day, the new Get Out of Debt Guy, dive deep into the ugly mix of money, debt, and divorce. From the skyrocketing cost of contested cases to the fallout of hidden debt, blended families, child support battles, and credit destruction, Steve and Damon reveal how financial mistakes and emotional decisions can ruin lives long after the marriage ends.You’ll hear real examples of how debt gets weaponized in divorce, why “you divorce your spouse, not your creditors” is a rule everyone should know, and what happens when loyalty to creditors costs families their future. Most importantly, you’ll get a path forward — how to treat divorce like dissolving a business, avoid the landmines, and protect yourself, your kids, and your future.👉 Visit https://getoutofdebt.org for more resources.👉 Reach Damon directly at https://damonday.com.
Debt relief shouldn’t feel like a trap—but for too many people, it is. In this episode of the Get Out of Debt Podcast, your trusted debt coach, Steve Rhode (the original Get Out of Debt Guy), and Damon Day (the new Get Out of Debt Guy), break down 20 manipulative sales techniques used by both for-profit and nonprofit debt relief companies. Discover how to get out of debt wisely by understanding these tactics that get you to sign up—whether it’s the right move or not.From fear-based pressure, fake authority, and bait-and-switch loan offers to commission-driven scripts that play on your guilt and urgency, this deep dive will show you exactly how these tactics work—and how to protect yourself. Whether it’s a credit counselor, a debt settlement company, or a company claiming to be a “government program,” you’ll walk away from this episode armed with red flag indicators and smarter questions to ask.This is not about being afraid; it’s about being informed. Tune in now to get expert debt advice and take control of your financial future! 👉 Learn more at https://getoutofdebt.org📞 Want honest, expert help? Reach out to Damon directly at https://damonday.com
Debt isn’t just about numbers—it’s about the emotional, moral, and even spiritual weight it puts on your shoulders. In this episode of The Get Out of Debt Podcast, Steve Rhode, the original Get Out of Debt Guy, and Damon Day, the new Get Out of Debt Guy, dive deep into the centuries-old struggle of the morality of debt and how to get out of debt when you’re stuck. We tackle why guilt and shame can keep you trapped, why lenders share responsibility for the problem, and explore debt advice that redefines tools like bankruptcy and debt settlement. Discover that these are not moral failures—they’re legal, practical ways to protect your family and your future. From ancient biblical debt forgiveness to U.S. Constitutional rights, we’ll help you break free from the mindset that keeps you in financial chains and focus on how to achieve financial freedom. If you’ve ever wondered whether you’re doing the “right” thing by paying a debt you can’t afford—or if there’s a smarter, more responsible path—the insights shared in this conversation will open your eyes to effective debt solutions.Visit https://getoutofdebt.org for valuable resources. Damon can be reached at https://damonday.com for one-on-one guidance.
Are you ready to learn how to get out of debt while cutting expenses without hating your life? In this episode of the Get Out of Debt Guy Show, I’m joined by Damon Day to unpack simple, sustainable debt advice that makes saving money feel manageable. We explore realistic spending habits that can sabotage your financial goals—like trying to impress others—while providing smarter choices such as buying a used car at the right depreciation point and understanding how technology is transforming car ownership. Additionally, we delve into how leasing can actually make sense, how small thermostat tweaks can lead to significant savings, and how to stop wasting money on things that don’t contribute to your happiness. This episode is filled with real talk, effective strategies, and all the actionable advice you need to give your bank account a well-deserved breather without going full monk mode.This one’s about real talk, real strategy, and giving your bank account a breather—without going full monk mode.For more resources, visit https://getoutofdebt.orgWant help figuring out your next best step? Reach Damon at https://damonday.com
We kick things off by answering a listener’s question: How do I know if my interest rate is too high? Seems simple—until we dig into the loopholes big banks use to dodge state usury laws and how shady tribal loan scams worked… until they didn’t.But buckle up—because what follows is the real headline: a massive, catastrophic overhaul of the federal student loan system that almost nobody is talking about. From new borrowing caps to hidden rule changes that could disqualify you from forgiveness after years of payments, this episode is a wake-up call. If you’re counting on PSLF, stuck with Parent PLUS loans, or have any kind of federal student loan, this could save you thousands—or decades of regret.👉 Ask your question at https://getoutofdebt.org/podcast🙋♂️ Want help from Damon? Go to https://damonday.com
Life doesn't wait — and when the unexpected hits, your finances can crumble fast if you're not ready. In this episode, Steve Rhode, the original Get Out of Debt Guy, and Damon Day, the new Get Out of Debt Guy, dive into the real cost of living paycheck to paycheck, why guilt is keeping you broke, and what smarter financial choices look like when you're staring down layoffs, car trouble, or divorce.This isn’t about judgment — it’s about giving you real options, real strategies, and a chance to breathe again. If your credit card balances are higher than your savings account, it’s time for a better plan.Listen in and learn how to build a safety net, protect your future, and make hard decisions feel a little... less hard.💻 More free help: https://getoutofdebt.org🤝 Talk to Damon: https://damonday.com
Big changes are coming for Parent PLUS loans—and most families have no idea. In this episode of The Get Out of Debt Guy Show, Steve Rhode and Damon Day break down the hidden deadlines, confusing rule changes, and massive traps built into the new Parent PLUS system. If you’re planning to help your kid with college—or already have Parent PLUS loans—June 30, 2026 is the line in the sand. Miss it, and you may permanently lose access to income-driven repayment and Public Service Loan Forgiveness.We’ll cover what’s changing, what’s still unclear, and what actions every parent needs to take now to avoid a costly mistake. This isn’t just a student loan episode—it’s your warning signal.Get the full breakdown at https://getoutofdebt.org. Damon is available at https://damonday.com.
Today on The Get Out of Debt Guy Show, Steve and Damon are together in person for a rare live conversation—and they’re diving deep into a topic most people avoid: bankruptcy attorneys.After a lunch with a bankruptcy lawyer, they share insider perspectives on why so many people avoid bankruptcy even when it might be the best option. From emotional roadblocks and bad first impressions to sales tactics from debt relief companies that push people into costly mistakes—this episode unpacks it all. You’ll hear why some attorneys lose clients even when they have the right solution, how fear is often weaponized to sell debt programs, and why being your own advocate is the smartest move you can make.They also break down:The emotional gap most attorneys missWhy rebuilding credit after bankruptcy might be easier than you thinkWhat real debt relief looks like (and what’s just hype)The importance of shopping for the right person, not just the right solutionThis is the episode for anyone feeling stuck, judged, or confused about their next move.🔗 For real help and judgment-free advice, visit https://getoutofdebt.org💬 Want a one-on-one with Damon? Head to https://damonday.com
In this eye-opening episode, I sit down with Damon Day to talk about the fast-moving threat of artificial intelligence replacing middle-class jobs. From customer service reps to financial analysts and marketing writers, AI isn’t just nibbling around the edges — it’s bulldozing through entire career paths. We talk about what jobs are most at risk, whether upper management is really safe, and how fast this change is coming. (Spoiler: faster than you think.) We’ll also lay out practical steps you can take right now if you’re carrying debt, juggling long-term financial obligations, or just trying to build a future that won’t be outsourced to a bot.This is one of those episodes that’s equal parts wake-up call and survival guide.🔗 Learn more and get free tools at https://getoutofdebt.org💬 Talk to Damon at https://damonday.com
Debt and guilt go hand-in-hand—and not in a good way. 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) dive into the toxic guilt that keeps people stuck in debt and making bad financial decisions. From draining retirement accounts to hiding credit card debt with more debt, guilt can lead to a spiral of shame, silence, and survival-mode living.Steve and Damon share their personal rock-bottom moments—from cold postal Jeeps to garage-office dryers —and explain why guilt is not a financial strategy. You’ll hear real talk about what actually works to get out of debt, how to flip the mental switch, and why sometimes “so what?” is the smartest thing you can say.Whether you’re dealing with credit card debt, feeling overwhelmed, or just tired of hiding your financial reality, this episode is your permission to stop beating yourself up and start doing something different. Damon can help—visit https://damonday.com.
Is it more moral to protect your future—or to financially bleed yourself dry trying to pay everyone back? In this episode, Steve, the original Get Out of Debt Guy, and Damon Day, the new Get Out of Debt Guy, unpack the emotional weight and moral confusion around debt, repayment, and financial survival. From the fear of bankruptcy to the guilt of walking away from a debt you can’t afford, we tackle the gray areas most people never talk about. We’ll explain why your sense of “doing the right thing” might actually be keeping you stuck, and how to find the balance between responsibility and self-preservation.Visit https://getoutofdebt.org for more support and free resources. Damon can be reached at https://damonday.com.
Steve, the original Get Out of Debt Guy, and Damon, the new Get Out of Debt Guy, crack open the rolling doors of America's $44 billion self-storage obsession. From emotional clutter and forgotten bins to the sneaky subscriptions draining your wallet, this episode is a deep clean for your finances and your soul. Damon shares how he finally closed his last unit after 20 years—and what he found inside. Spoiler: it wasn’t gold. Plus, practical advice on investing the money you're wasting on space you’ll never visit.If this hits a little too close to home, maybe it’s time to ask: are you storing stuff or stalling life?Visit https://getoutofdebt.org for free resources and tips.Want to talk with Damon? Reach out at https://damonday.com
Too many people waste thousands chasing the wrong debt solution. In this eye-opening episode, Steve Rhode—the original Get Out of Debt Guy—and Damon Day—the new Get Out of Debt Guy—pull back the curtain on the truth behind debt relief programs, credit counseling, debt settlement, Dave Ramsey plans, and even bankruptcy.We break down:Why people fall for the wrong solutionWhat debt relief companies don’t tell youHow to weigh real options like credit counseling vs. bankruptcyThe hidden cost of sticking with bad adviceAnd why it’s not a failure to legally reset your financesThis episode covers it all, with honest, no-judgment advice and some laughs along the way.Whether you're in Raleigh, Dallas, or Des Moines, this show is packed with insights for anyone feeling stuck in debt. We also talk about Damon’s custom strategy approach, how to avoid being sold a product instead of finding the right plan, and what Steve learned firsthand after his own bankruptcy.👉 Visit https://getoutofdebt.org for free resources.👉 Want personal help? Damon is available at https://damonday.com
In this episode of the Get Out of Debt Guy podcast, I answer a powerful listener question from a 71-year-old semi-retired filmmaker who’s buried in $30,000 of credit card debt. After losing income from DVD sales, he’s now fielding calls from debt relief companies offering to settle or consolidate his debt—but something doesn’t feel right.We talk about how to spot red flags in the debt relief industry, including fake law firm branding, misleading promises, and manipulated review sites like Trustpilot. If you're wondering whether you can trust a company to handle your debt—or if you’ve been targeted by companies offering to "erase your debt" with no mention of the risks—you'll want to hear this.I share the key questions to ask before signing up for any debt solution, especially if you’re a senior on a fixed income. I also point you to my free resource, The Ultimate Consumer Guide to Checking Out a Debt Relief Company, and explain why sometimes the right path isn’t the most advertised one.This episode covers:How debt settlement companies often market to seniors in financial crisisWhat those five-star reviews really mean (and how to spot fake patterns)Why declining income years demand a different financial strategyWhat options are actually available when you're over 70 and deep in debtWho I personally trust to help people find the right solution for them👉 If this hits close to home—or you know someone who’s falling behind—share this episode and visit GetOutOfDebt.org/podcast to submit your own question.
Struggling to choose the right credit card? In this episode of the Get Out of Debt Guy podcast, Damon Day breaks down how to find a credit card that actually works for you—not against you. Learn why the interest rate doesn’t matter if you pay off your balance every month, which rewards are truly worth it, and why using a credit card is often safer than using a debit card. Damon also shares a real-life client story and gives you a simple checklist to make your next credit card decision smart, safe, and stress-free.💡 Whether you’re looking for the best cash-back credit card, travel rewards, or just want to avoid hidden fees, this episode is packed with insights to help you stay in control and out of debt.Have a question or want personalized advice? Reach out to Damon directly at https://DamonDay.com.If this episode helped you out, boop that like button and subscribe—because smart money moves should never feel overwhelming.