The purpose of Debt Prison is to help readers escape the perils of debt in a world which relentlessly suggests you embrace it, so as to discover a financial and emotional lifestyle promoting frugality and personal achievement.
This website does not administer legal or financial advice. The contents of this website are my opinions on collection agencies and how to deal with them. Nothing on this website should be interpreted as legal advice or council. No opinions on this website should be used to replace the advice of your financial advisor or your legal council.
This site will inform you of some options you have when trying to escape credit card debt and other loans upon which you’ve defaulted. I attempt to provide honest answers and practical, do-it-yourself solutions, to guide you towards the path of financial freedom. I will never suggest a reader spend any money unless I feel it is absolutely a last resort. Spending money we don’t have is what places all of us within the sinister confines of what I like to call Debt Prison. This prison is one of emotional and financial hardship – often destroying every positive condition or relationship in our lives.
Often, once we’ve fallen behind on credit card debt or other loans, it’s impossible to regain traction due to late fees, over the limit fees, and universal default interest rates. Debt settlement, debt consolidation, and bankruptcy are all options of which most people are confused. There is a lot of misleading information on the internet, television, and radio about debt settlement. Whether coming from for-profit, non-profit, or a religious organization, most of the information you hear is tainted by companies who wish to make money off of your hardships. Like collection agencies, debt settlement and consolidation companies will mislead and often outright lie to consumers about their options in handling defaulted debts.
I originally built Debt Prison because I wanted to create just one article which would adequately explain the truth behind debt settlement. Needless to say it’s grown into so much more than I intended. These days I still have a day job just like most of you. I still have debt just like most of you. However, running this site and discussing all types of wild issues related to defaulted debt, has placed me in a position to help others by offering free advice. Debt Prison does not offer legal advice. My ideas and answers are based on personal experience and research. My desire is to help others by providing honest, insightful articles about escaping debt the cheapest way possible.
The main themes of this site are:
• Discipline: Pay cash and avoid wasting money on interest.
• Frugality: Let’s learn to live within our means.
• Courage: Take control of your life and finances.
• Free markets: The less government in our lives the better.
• Morality: We all possess the natural rights to life, liberty, and property.
How to begin?
Though I’m always adding content to this blog, you can begin by reading my most popular articles listed below. Feel free to ask questions below each article in the comments or join the forum. Also, you can perform a search using the box in the top right corner of this page or browse by category.
* Can you go to jail for not paying your debts?
* How to settle your debts on your own
* How to deal with collection agencies
* Sample Debt Validation Letter
* The Fair Debt Collection Practices Act
* Tell Debt Settlement Companies to Kiss Your Ass
* The History of U.S. Credit Cards
* Dave Ramsey, Peter Schiff, and Decline of U.S. Economy
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