Due to it being a third party the original contract is no and void and you do not have another contract with this debt collection agency so therefore you do not owe the DEBT to them. THE KEY WORD IS DEBT. So they want you to pay debt with debt which is what Federal reserve notes are all notes are debt which is a ridiculous concept right off the bat but keep in mind they have already written off that debt once they passed it on to the collection agency who has bought it at a very low price and bundles of debt collection so it's already been paid by the the write off. It's also illegal with their doing but you don't have a contract with them so you do not owe them the DEBT. NOW WHY COMPANIES WANT MORE DEBT IS A WEIRD CONCEPT. Here's the funnest part of it all is that thanks can't lend reserves and if they do it's illegal or against what the bank is there for which is to be a currency exchanger. When you do take out a"loan" the money is created literally right then and there with your signature approval because you are the guarantee of that loan so it's not like it's the banks reserves that they are loaning you because they can't loan you reserves. So they literally created off of your signature basically thin air but you are the backer and the money is not theirs but what they do is also illegal by telling you or not informing you of all of the disclosure of the information and then telling you that these notes/ reserves must be paid back with interest

Great points! Great questions ! Thank you

Lovely plants

The issue is NOT borrowing. The issue is *usury*. All interest beyond 1% is usury according to all historical precedent. Blaming consumers for satanic debt enslavement tactics like compound interest on loans and the fact that a private unaccountable agency issue and manipulated currency is wrong and totally off base, at best, at worst it’s gaslighting and intentional obfuscation

See .... the $5 has turned out to be in today's value is $20. Inflation. It used to be that when we stepped out the door, it would feel like $20 would fly out of our pockets....now it feels like $120. Sigh...lol...good luck to us all...✨😊✨

I am getting so fed up with hearing advertising....today I heard a commercial by a furniture company saying we "should" upgrade our furniture this month. Surrrrrrre.... $5,000 - $20,000. Do businesses want us in tents on the street???

Although I enjoy your videos, I'm glad I didn't find them until I learned how to budget. Doug's viewpoint on budgeting may have dissuaded me from finding a budgeting technique that works for me. Saying that people won't do it is just silly. Sure, some people won't, but there are others that would benefit from it immensely (like me). I've been budgeting for years now, and it changed my family's life. Anyway, great video otherwise!

"Thanks, guys...,.now I want pickles and chips."

so does a prepaid come with a number and all the info that shopping on internet ask for ? thank you ..instead of using bank card would pre paid card accomplish same thing by giving all the numbers on card

so iv been scammed using my bank card ,,,i was told that a pre paid card to shop with is safer ,,i would like to know is using a pre paid card safe ? thank you

Even if a homes value stays flat over a 30 year mortgage The “idea” is that it’s more cost effective to purchase a home, than to rent a property to live in. Say you spend $2000 a month renting, X 360 months - you spent 720k to have a place to live, and will continue to need to do so. Versus, purchasing day…. A $500k home (or cheaper) Even with interest, say it costs you $1 million over 30 years You’ll have something you can sell, to recoup some of that expense. Or, keep, and you no longer have to pay the mortgage (just taxes, insurance) In both cases, it makes more sense to buy. If for no other reason, than as a way to mitigate cost

Isn't 1 in 3 seniors carrying debt better than 40% in the past? I'm confused...lol...🤔😵‍💫. Good luck to us all....✨😊✨.

Loved this !!! Thank you ❤

My ex is my main borrower on the loan I’m the co borrower for the car .. I’ve paid everything I’ve paid the transmission replacement I haven’t had any contact with her .. two months ago I get a random email stating she’s going to take my vehicle from me because she needs it after two years … how does this make sense if I’ve been financially capable and able and not had her help at all except in the beginning to help me with her credit ? Please respond I don’t know who to go about

As someone who has been doing zero-based budgeting for years, Doug's method sounds like a nightmare. 😅 I don't think I'd be able to sleep at night.

Your comments on dealers offering a better financing deal than the bank simply does not ring true The manner in which a dealer usually has a lower financing interest rate is through the manufacturer especially what is called subvented financing Otherwise most dealers are buying a loan from the bank for you the consumer and as any good middleman they will put a profit in there for themselves also known as the spread between the dealers buy rate versus the sell rate they offer you the consumer Buy here pay here dealers often do their own financing eg Carvana in the USA and they have credit card high interest rates but if no one else will finance you and you really need a car what other choice do you have than to pay their high rates?

I love your content!

For years I have been struggling with these emergencies that I can t predict... Only to realize that it s 3 times the emergencies every month! So now I put double aside... And even then....

they can garnish some protein from my sausage

KEEP! ☆

Pay it off Learn from your mistake Do not repeat

Not that I expect it to happen, but I do not bank with the same company where I have debt.

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Credit card debt ls different, I would pay that down first, throw everything at it But if it was a loan, something on finance, a mortage etc I'd prioritise the Emergency fund and make mimimun payments until I was set up

What is with the comments? Spam!

🙌 great video! Super helpful

An educational episode, thanks.

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I wouldn't dismiss the "obsession" with credit ratings - if you're a renter you absolutely need a good credit report. It's the difference between being able to secure new housing and potential homelessness - even if you always pay your rent on time.

I was found guilty by the Court for debt $800 plus Court cost and fines $1050. When i asked for payment plan being I'm 79 on SS and health issues. Wouldn't accept $50 I have too pay $100 a month. So there you have it! Michigan. Ooh well, I don't need to eat. Debt waas aa CC

This show motivates me to get real about debt.