The purpose of this website 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 site will inform you of the 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 this website 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 left 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
* Reasons not to file Bankruptcy or Settle Your Debts
* Reasons to Stop Using Credit and Pay Cash
* Do we have Private Property in the USA?
About the author Barry Broome
Mississippi native and a 1993 graduate of Hattiesburg High School in Southern Mississippi. Afterwards I spent three years at William Carey College before graduating from the University of Southern Mississippi with a Bachelor of Science degree in Biology. After graduating college I spent seven years managing an auto service store in Hattiesburg. I’m currently a contractor for various power companies, maintaining their utility infrastructure, in Mississippi and Louisiana.
Feel free to email me at barrybroome@debtprison.net.
p.s. Go forth and be debt free!