The other day at Getting Clear on Finances to Begin the New Year, I wrote that I was getting ready to open all my credit card notices that would tell me rates are changing unless I opted out.  One Facebook friend commented:  “Can I add here without everyone getting their knickers in a twist? There is no debt-this whole gig with the banks, and the economy just proved that for those at the top. There is NO debt- you owe No one! Believe, and it is so.”   I asked her what her advice be to someone who has $20,000 in credit card debt, bad credit, who just got laid off and has no savings, and can only make the minimum payments on half the credit cards they have?  I asked her, “What would you advise them to do?” Continue reading →