3113: 6 Ways to Knock Out Creditors by Red with Budgets Are Sexy on Credit Card Debt and Financial Freedom

Optimal Finance Daily - Financial Independence and Money Advice

Optimal Living Daily LLC

Investing, Business, Education, Self-improvement

4.4 • 1.3K Ratings

🗓️ 19 April 2025

⏱️ 12 minutes

🔗️ Recording | iTunes | RSS

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Summary

Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com. Episode 3113: Red shares her raw, firsthand experience of battling credit card debt, offering six empowering strategies to regain control and silence relentless creditors. From knowing your legal rights to negotiating smarter repayment plans, her advice helps turn fear into action and financial freedom. Read along with the original article(s) here: https://www.budgetsaresexy.com/6-ways-to-knock-out-creditors/ Quotes to ponder: "I easily received 15 phone calls a day. Sometimes they would leave a voicemail, but I deleted it without listening." "You’ll need a realistic budget to get out of this debt, and seeing the light at the end of the tunnel is better than blindly making minimum payments." "Most companies will reduce your interest rate if they know it increases the odds of getting some of their money back." Episode references: The Pew Charitable Trust report on debt collection lawsuits: https://www.pewtrusts.org/en/research-and-analysis/reports/2020/05/how-debt-collectors-are-transforming-the-business-of-state-courts The Fair Debt Collection Practices Act: https://www.consumerfinance.gov/rules-policy/regulations/1006/ Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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1:00.6	This is Optimal Finance Daily.
1:03.6	Six ways to knock out creditors by red with budgets or sexy.com.
1:09.9	What's the first thing that comes to your mind when you think of credit card debt?
1:14.4	Maybe it's maniacal company executives laughing as they toss the money earned on your interest
1:20.3	up in the air, or the stress involved in mapping out your payments towards debt freedom.
1:26.3	If you've been down in the trenches, deep in
1:29.0	credit card debt, missing payments, and accumulating multiple overdraft fees, maybe your first thought
1:35.7	is a phone call after harassing phone call from collection agencies trying to get their money
1:41.8	back. In 2007, I was $3,500 in credit card debt, working full-time
1:48.3	while going to school full-time and struggling to pay my bills. I couldn't even make minimum
1:54.1	payments on the six credit cards I had opened and maxed out to pay for my lifestyle. Even though I was
2:00.5	living like a student where cable and
	...

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