Debt Therapy, S2, Ep. 2: Debt Settlement with special guest Leslie Tayne

 

We welcome special guest Leslie Tayne, attorney and debt settlement expert to the Debt Therapy podcast for this episode. In this episode, we cover so many details involved with debt settlement so make sure you listen to it all—there are important pieces of information all the way to the end of this episode. 

First, how do you know a reputable company from a scam?

To answer that, you must first understand the difference between debt consolidation and debt settlement. If you are looking for a debt consolidation, that may include a loan with a lower interest rate, but the amount you are paying off remains the same. Debt settlement is different in the fact that they renegotiate the terms of your repayment with the creditors and agree to a structured repayment process with less debt.

Now that we understand the difference, let’s talk about protecting yourself. First, don’t be lured in or intimidated if someone has your information such as your total debt,...

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Debt Therapy, S2, Ep. 1: Welcome to Season 2

 
 

When we first took on this venture, we wanted to fill in the gaps that all of us seem to miss along the way. Schools don’t teach us about finances the way they used to. Because of that, we end up figuring things out through trial and error—which is sometimes detrimental to our futures.

This podcast keeps between 15-20 minutes per episode and helps explain certain concepts in personal finance. Nothing is too basic! We cover topics that are simplistic and complex—all of which are important to know in adulthood.

Our Debt Therapy podcast is here to help you overcome some of your spending habits and troubles. Plus, the more we talk about it and normalize it, the better! It means we will all get better with our money management. Let’s take away the embarrassment! You don’t know what you were never taught.

So don’t miss these episodes this season! We are going to have a lot of guests from insurance to mortgage brokers and more. These...

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S1, Ep.17: Refinancing

Thanks for joining us today for Debt Therapy. I'm your host, Jen Lee, and am ready to discuss refinancing with you today.

The most common loan you hear about refinancing is a mortgage. Back in the 80s, mortgage rates were normally around 15%. But today, the rates are hovering around 3%-4%. It makes it very desirable to refinance.

Length of time is something that many people do not factor in when looking to refinance their mortgage. If you have a mortgage that you have been paying on for 8 years, it is not recommended to refinance to another 30 year loan. You are essentially starting over and will pay more in interest. I would recommend at that point to look at a 15-year or 20-year mortgage. Depending on the rates, your overall payment may not change much, but the amount of interest you pay for the life of the loan will.

It is smart to exam your options side by side so you can see the difference in interest, loan length, total interest paying, and total principal being refinanced....

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S1, Ep.14: Emergency Preparedness COVID-19

Times like this make us react in irrational ways when it comes to our finances--hence why all of the toilet paper has disappeared from the shelves! In this episode, we discuss why we do that and what are some ways to alleviate financial stress during this time.

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S1, Ep.13: They Went Broke

If you are having financial struggles, you are not alone! In this episode, we discuss famous people throughout history that also struggled with their finances and utilized bankruptcy to overcome the obstacle.

 
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S1, Ep.12: Benefits of Chapter 13 Bankruptcy

bankruptcy debt Jul 30, 2020

A few episodes back we discussed Chapter 7 bankruptcy. So now, we are going to move onto Chapter 13. Learn exactly what it is and how it works--who knows, you may be a good candidate for it!

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S1, Ep.10: What is Chapter 7 Bankruptcy?

bankruptcy debt Jul 30, 2020

The dreaded "B" word--bankruptcy! So many of us believe it is the worst possible option and yet, it is sometimes the best solution that will have the least impact on your credit and financial future.

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S1, Ep.7: Holiday Spending

'Tis the season of giving! But how do you manage your spending without taking on more debt?

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S1, Ep.2: Stigma and Debt

There is a stigma around money, whether it is talking about how much you make or how much debt you have. Here is the thing--I'm here to break down that stigma. More people are in the exact same boat as you than you think!

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S1, Ep.3: Student Loans

Student loans are out of control in our country. In the United States alone there are over a trillion dollars worth of student loans out there. Find out other options so your future isn't weighed down by student loan debt.

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