Welcome to the 139th Carnival of Debt Reduction, the Debtors’ Prison edition. We may not have debtors’ prisons any more, but there is still Credit Hell! According to wikipedia, a debtors’ prison was a prison for those who are unable to pay a debt. The first category for today are the progress reports of those definitely not headed to debtors’ prisons:
- Chief Family Officer says “Our car loan is officially paid off - in less than two months!” proof that the next best thing to paying all-out cash is to have an EXTREMELY SHORT loan.
- Nathaniel Scott offers up his progress report for month 4 of his debt reduction battle.
- FMF says that contrary to popular belief, he has a great credit score with no debt. So much for that excuse to stay in debt!
- Amanda has her economic stimulus payment, and provides an update and a question in Me vs Debt: Debt Repayment Update - How Should I Proceed?
“Prior to the mid 19th century debtors’ prisons were a common way to deal with unpaid debt.” Sounds scary, doesn’t it? Fortunately, we have better, non-incarceratory ways of dealing with debt today!
- Michael Geoffrey presents How to Get Out Of Debt
- billspaced presents Getting Out of Debt, Part 3
- Debt Freedom Fighter presents Snowballing Debt: How to Make Bigger Payments To Your Creditors Without Making More Money
“In the United Kingdom, the Debtors Act of 1869 abolished imprisonment for debt, although debtors who had the means to pay their debt but did not do so, could still be incarcerated for up to six weeks.” Student loan debt lasts much much longer…
- William Blake presents Getting Help Paying Off Student Debt
- nickel presents Thoughts on Minimizing Debt While in College
- Destroy Debt writes Learning to Spend Less So My Earnings Are Greater
- The Happy Rock presents Demystifying The Budget - Don’t Be Afraid
- debbie presents 8 Ways You Blow the Most Money
“In 1833 the United States reduced the practice of imprisonment for debts at the federal level. Most states followed suit.” The state versus federal dynamic in American government makes some interesting legal situations, which brings us to credit cards:
- Christopher Johnson presents Getting A Handle On Your Credit Cards
- Maria O’Brien presents Dealing with Credit Card Debt
- Brice Hogan presents 3 Steps to a Lower Interest Rate
- Ray presents Debt Reduction With Low Interest Balance Transfer Credit Cards
- J. Savings presents Budgets are Sexy.: Credit Cards are cool
“The Province of Georgia in the colonial United States, was originally intended to be settled by debtors.” I found this little tidbit quite amusing!
- Chris Kakaras presents Situation Analysis - debt statistics
- The Baglady presents The Nuances of Good and Bad Debt
- Mike Leonard presents Debt by Stealth – this is the cause of your Debt
- paidtwice presents “Emergencies” Happen A Lot More Often Than I Ever Thought
“Debtors’ prisons varied in the amount of freedom they allowed the debtor. With a little money, a debtor could pay for some freedoms; some allowed inmates to conduct business and receive visitors; others even allowed inmates to live a short distance outside the prison–a practice known as the ‘Liberty of the Rules’”
- Stephan Grindley presents Debt Consolidation: The Scare Tactics
- Alexander presents How to Stop Collection Calls
- MITBeta presents Using a Twice Yearly Pay Bonus to Meet Your Goals
- Jason presents Should I Stop 401(k) Contributions to Pay Off Debt?
Whew! That’s a lot of quality entries this time around! I do hope y’all enjoyed the fun with the debtors’ prison theme and be sure to read these great posts on reducing or eliminating debt.