Get Out Of Debt Guy Show

Dave Ramsey’s advice can help—until real life shows up.In this episode of The Get Out of Debt Guy, Steve Rhode (the old, original Get Out of Debt Guy) and Damon Day (the new Get Out of Debt Guy) scrap the planned outline and tackle what people actually struggle with: why Dave Ramsey’s “beans and rice” approach works for some…and flat-out fails for others.They break down:What Dave Ramsey gets right (debt is serious, emergency funds matter, snowball wins can work)What he misses (depression, ADHD, stress, decision paralysis, and the reality that not everyone can grind for 5 years)Why automation beats budgeting for a lot of people (systems > willpower)How to pay off debt when you feel like you have no extra moneyWhen it makes sense to stop paying certain debts to protect cash and build a plan (including bankruptcy or settlement prep)The hidden “gotcha” of credit union cross-collateralization (yes—an “unsecured” credit union debt can put your car or even your house at risk)They also touch on the social side nob

Steve Rhode, the old original Get Out of Debt Guy, and Damon Day, the new Get Out of Debt Guy, dig into a hard truth about tax refunds and debt: getting a refund feels good, but using it to make a small dent in credit card balances usually does not solve the bigger problem.In this episode, Steve and Damon talk about why hoping for a windfall is not a real debt strategy, how to use a tax refund as a reset point, and why April is the perfect time to build a smarter plan for getting out of debt. They also cover how adjusting your tax withholding can help, why automating savings matters, and how high-yield savings accounts can keep your money working for you instead of giving the IRS an interest-free loan.The conversation also dives into three important topics people struggling with debt need to understand right now: private student loan debt and bankruptcy options, ADHD and debt behavior, and how bankruptcy timing can make a huge difference depending on your income situation.This episode is for anyone dealing wi

What happens when a creditor forgives part of your debt? 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 the tax consequences of debt forgiveness and explain what a 1099-C really means.If you settle debt for less than you owe, the forgiven balance may be treated as taxable income by the IRS. Steve and Damon walk through how canceled debt works, when you may owe taxes, when the insolvency exception could help, and why so many people get blindsided because debt settlement companies never explained the full picture.They also talk about why bankruptcy is often misunderstood, how debt can affect security clearances and professional licenses, the danger of hidden debt in marriage, and why shame should never drive your debt decisions. This is a practical, honest conversation about debt relief, debt settlement, bankruptcy options, tax liability, and how to make a smart plan before you act.Read more and use the free

After filing your taxes, it can feel smart to wait for your refund before making a debt plan. But in this episode, Steve Rhode, the original Get Out of Debt Guy, and Damon Day, the new Get Out of Debt Guy, explain why waiting could be costing you hundreds or even thousands of dollars in credit card interest, personal loan payments, and financial stress. They talk about the real cost of delaying action, how tax refunds are often used as a financial rescue parachute, why so many people procrastinate on debt relief, and when options like bankruptcy, debt settlement, or a smarter payoff strategy may make more sense than continuing to struggle.This conversation also covers money and marriage, financial stress, bankruptcy myths, and why getting independent debt advice can help you make a better decision faster. If you are dealing with credit card debt, tax debt, debt stress, or wondering how to use your tax refund wisely, this episode will help you stop waiting and start taking control.Learn more at https://getouto

Got a tax refund coming and wondering whether to save it, use it to pay off credit cards, build an emergency fund, or settle debt? In this episode, Steve Rhode, the original Get Out of Debt Guy, and Damon Day, the new Get Out of Debt Guy, break down the smartest ways to use a tax refund when you’re already struggling with debt.They talk about why throwing a refund at credit card debt is not always the best move, how a refund can be used more strategically, when it makes sense to build a cash buffer first, and why every financial decision needs a real plan behind it. They also dig into debt settlement, debt consolidation loans, 1099-C tax issues, forgiven debt, insolvency, and how financial stress can wreck clear thinking.If you’re dealing with credit card debt, tax refund decisions, debt payoff confusion, or just want practical debt relief advice without the shame and nonsense, this episode is for you.You’ll also hear about helpful free tools at GetOutOfDebt.org, including the Your Brain on Debt quiz and the

Your tax refund feels like a lifeline—until you do the math.In this episode of The Get Out of Debt Guy, Steve Rhode (the original Get Out of Debt Guy) and Damon Day (the new Get Out of Debt Guy) break down why a $3,000–$5,000 refund usually doesn’t “fix” the kind of credit card debt most listeners are carrying. If you’ve got $30,000 to $200,000 in debt, a refund can become a one-time emotional paymentthat barely dents the balance… and then gets charged right back up when life happens (tires, repairs, surprises).They also dig into a problem almost nobody talks about: debt and depression. When you’re overwhelmed, follow-through becomes harder—so generic “grind it out” advice (budgets, five-year payoff plans) can fail even when you want it to work. Steve and Damon explain why this is common, why it’s not about shame, and why you need a strategy that matches your real life—not an internet template.You’ll also hear a straight-shooting breakdown of credit counseling / debt management plans vs. debt settlement, why

You’re smart. You’re successful. You’ve solved hard problems at work and in life. So why is debt the one problem that keeps looping?In this episode, Steve Rhode (the old, original Get Out of Debt Guy) and Damon Day (the new Get Out of Debt Guy) go after the “I’ll figure it out myself” trap — the mindset that helps you win everywhere… except when it comes to credit card debt, personal loans, and financial stress.We break down the three big DIY “solutions” that look logical but often make things worse:Debt consolidation loans: the “lower rate” pitch that can wreck your cash flow and lead right back to credit cardsMerchant Cash Advances (MCAs): the business version of a payday loan — daily/weekly withdrawals, brutal “factor rates,” and a stack that can end in bankruptcyClosing paid-off credit cards: feels responsible… but can hurt your credit score by raising utilization and shrinking account historyIf you’ve been “researching” your way out of debt for months with no real progress, this is your sign: you don’t g

Ever been carrying debt (or a money mess) your spouse doesn’t know about… and you can feel the secret eating you alive?In this episode, Steve Rhode (the old, original Get Out of Debt Guy) and Damon Day (the new Get Out of Debt Guy) lay out a practical roadmap for the hardest conversation most couples will ever have: telling your partner the truth about your debt—without turning it into a relationship-ending explosion.You’ll learn:When NOT to do it (hint: not during a fight… and definitely not at the grocery store)How to open the conversation with responsibility instead of excusesWhy you need to show up with a plan, not a dumpster fireWhat to say when they’re hurt, angry, or ice-cold for a whileHow to turn this from “your secret problem” into a shared solutionSteve also calls out a sneaky modern trap: “Forbes-style” articles-that-are-really-ads pushing debt relief companies—why they look legit, why they fool smart people, and how to spot the marketing game.If this episode hits a little too close to home, don’t

If you’ve run the numbers, know your options, and still haven’t taken action… this episode is for you.Steve Rhode (the old, original Get Out of Debt Guy) and Damon Day (the new Get Out of Debt Guy) get brutally honest about the real reason people stay stuck in debt: fear and shame—not math, not money, not even the solutions.You’ll hear why so much credit card debt comes from essentials, why people only act once the “bucket of chaos” hits the fan, and why protecting a credit score can quietly cost you years (and a lot of money). They also break down what to do about collection calls, the truth about debt settlement vs. doing nothing, and why having a plan changes everything—especially if your spouse doesn’t know the full story yet.✅ Your assignment at the end: identify the real fear keeping you up at night—and start taking its power away.Explore free tools and subscribe to the newsletter at https://getoutofdebt.orgReach Damon directly for a free strategy call at https://damonday.com

January resolutions are cute. February is where the real work starts.In this episode of The Get Out of Debt Guy, Steve Rhode (the old, original Get Out of Debt Guy) and Damon Day(the new Get Out of Debt Guy) talk about how to restart your debt plan on February 5th—without guilt, shame, or fake “perfect budget” nonsense.They break down why people stall (hint: it’s emotion, not math) and why financial literacy classes don’t fix debt behavior unless you understand your money personality and how your subconscious drives spending decisions.Then they pivot to the ugly reality: scams are everywhere—IRS and “TurboTax” tax scams, Amazon-style texts, gift card scams, crypto scams, and even debt consolidation traps that leave you deeper in debt. With consumer protections weakening, the message is simple: nobody is coming to save you—so you have to become your own financial watchdog.How to restart your debt plan in February (even if January slipped away)Why tracking spending beats “making a budget”The #1 mistake behind d

What really happens when you stop juggling bills and start taking control? In this episode, Steve Rhode and Damon Day go a little off-script (in the best way) and pull back the curtain on what’s happening right now in the debt world—and what you should watch out for before you sign anything.We dig into:Why debt collection lawsuits are climbing—and how collectors use the court system to flip the power dynamic fastThe real danger of ignoring a lawsuit (default judgments, wage garnishments, bank levies… the whole mess)Student loan forgiveness confusion heading into 2026—and how taxes can turn “forgiveness” into a surprise billThe ugly truth behind debt settlement “legal protection” promises (and who gets hurt the most)A military-base credit card problem that can snowball fast because the “creditor” has extra powersPlus: GM/OnStar data sharing and why your insurance hikes might not be randomIf you want the latest consumer debt news and Steve’s weekday updates, subscribe at https://getoutofdebt.org.If you need to

If you’re making good money and still drowning in debt, this episode is for you.Steve Rhode (the old, original Get Out of Debt Guy) and Damon Day (the new Get Out of Debt Guy) flip the script on the shame that high earners carry. Because your salary isn’t why you’re stuck — it’s the reason you can get out faster than you think.We dig into what’s driving debt right now (hint: it’s not “overspending” for most people), why minimum payments keep even high earners trapped, and why “I’ll deal with it next month” turns into years of treadmill living. Then we get practical: what options actually exist when you make too much for a clean Chapter 7, how debt settlement can work if you have a real plan, and why the goal isn’t a magic trick — it’s a strategy that resolves the entire situation.You’ll also hear what’s happening with student loans, why creditors seem more aggressive lately, and how to stop letting fear of credit damage or lifestyle disruption keep you frozen.This week’s exercise: add up what you’re spending

How many times have you heard it: “Just pay more than the minimum and you’ll be fine.” Sure—if you’ve got a small balance. But if you’re sitting on $80,000+ in credit card debt, that advice can turn into a slow-motion financial disaster.In this episode, Steve Rhode (the original Get Out of Debt Guy) and Damon Day break down the minimum payment trap with real numbers—how “doing the responsible thing” can still mean decades of payments, massive interest, and the kind of burnout that makes people quit right before progress shows up. We also dig into the high-income trap: when you can afford the payments, but they quietly destroy your future by stealing your cash flow, your investing years, and your peace of mind.You’ll hear why conventional advice (beans, rice, and brute-force willpower) often collapses in real life… and why the smarter move is choosing the right tool for the job—whether that’s a better payoff strategy, a negotiated plan, or (yes) understanding when bankruptcy is a realistic option instead of a

New year, new you… and one number you’ve been dodging for way too long.In this episode, Steve Rhode (the old/original Get Out of Debt Guy) and Damon Day (the new Get Out of Debt Guy) walk you through the most important (and honestly, toughest) first step in getting out of debt: finding your real numbers—how much you owe, and how much cash you’re bleeding every month just to keep the debt treadmill moving.No guilt. No shame. Just facts, clarity, and a plan.You’ll learn:Why most people underestimate debt and overestimate income (your brain is “helpful” like that)How to use AnnualCreditReport.com as a starting point (and why you should pull all three reports)What to look for on your credit reports (errors, unknown accounts, possible identity theft)Why “fake budgets” and vague guesses create bad strategies that don’t workThe difference between caring about a credit score and protecting your cash flow and future retirementWhy high-income earners are getting crushed by inflation—and why it’s not just youYour homewo

It’s the last day of the year…and we’re not doing the same tired “New Year’s resolution” routine. Steve Rhode (the old, original Get Out of Debt Guy) and Damon Day (the new Get Out of Debt Guy) are laying out what actually works: a real strategy you can start today—and real progress you can make in the next 90 days.In this episode, we dig into why debt “resolutions” fail (they’re emotional, not strategic), why budgets usually collapse by February, and how your money personality matters more than pretending you’re going to track every penny like a robot. If you’ve got big monthly payments, a decent income, and that constant 2 a.m. anxiety, this is your reset.You’ll also hear a straight talk breakdown of the options most people are afraid to even discuss—debt settlement, strategic default, credit counseling, and bankruptcy—and why protecting your credit score at all costs can be an expensive mistake. Damon asks the question that changes everything: “How much is your credit score worth?” Then we kick off the Jan

It’s Christmas Day… and if you’re lying awake at 2 a.m. staring at the ceiling thinking, “What am I going to do about my debt?” — this episode is for you.Steve Rhode and Damon Day talk straight about the quiet moment nobody posts on social media: the holiday pressure, the shame spiral, the fear that you’re the only one struggling, and that awful feeling like everyone else is cheerful while you’re drowning in credit card payments.No tough homework today. No “perfect budget” fantasy. Just permission to take the day off, breathe, and remember: debt is a problem with solutions — not a life sentence.And when you’re ready (hello, January), we’ll help you shift from surviving to solving with a real strategy for getting out of debt.More help and resources: https://getoutofdebt.orgTalk with Damon: https://damonday.com

Christmas is days away, and if your credit cards are already screaming… this episode is your permission slip to stop the shame-spiral, enjoy your people, and not make things worse. We talk holiday spending strategies that actually work—setting real limits, using cash, and choosing experiences over stuff—because the best “gift” is not waking up in January with a financial hangover.  We also get into the psychology behind why we overspend (yep, hyperbolic discounting), how to say no without feeling like the Grinch, and what to do when the invite is pricey, the gift exchange is ridiculous, or the “just put it on the card” crowd shows up.  Then we pivot to the comeback plan: what you can do in January to recover fast and set up next year so you’re not repeating the same cycle.  More help and resources:https://getoutofdebt.org  Damon can be reached at https://damonday.com

It’s December… and if you’re staring down holiday spending while your credit card debt is already heavy, you’re not alone. In this episode, Steve Rhode and Damon Day talk about why so many people avoid looking at their balances during the holidays, what that avoidance really costs you, and how to enjoy the season without turning January into a financial disaster.We dig into the pressure to “keep up,” the dopamine hit of giving, lifestyle inflation, and why high-income households can still be in a quiet financial crisis. You’ll walk away with practical ways to set boundaries, build a realistic holiday budget, and choose smarter spending that protects your future — without guilt, shame, or deprivation.More help and resources: https://getoutofdebt.orgReach Damon Day: https://damonday.com

Is your side hustle really helping you get out of debt—or quietly dragging you deeper in? In this episode, Steve Rhode, the old, original Get Out of Debt Guy, and the new Get Out of Debt Guy, Damon Day, break down the truth about side hustles, gig work, and those “make money from home” dreams that can turn into financial nightmares.Steve and Damon talk about the two very different worlds of side hustles: simple, cash-flow gigs like Uber, Lyft, DoorDash, Instacart and Walmart Spark… and the “business opportunity” side hustles like Amazon FBA, drop shipping, and guru-led online courses that can leave you with more credit card debt than profit. Steve shares his real Amazon FBA experience (including starting with $20–25k in inventory and building it into a serious business), while Damon explains how he consistently earns around $40/hour in the gig economy by stacking apps, knowing his market, and refusing unprofitable rides.They dig into:Why so many people go into debt “trying” to get out of debt with side hustle

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—