25 - Dealing with Debt - Consumerpedia Podcast

November 3, 2022

25 – Dealing with Debt

Host: Herb Weisbaum /

Guest(s): Bruce McClary - Senior Vice President at the National Foundation for Credit Counseling

To deal with record inflation, many Americans are making ends meet by piling up record amounts of credit card debt. A trained credit counselor can help you pay down that debt, even if it seems insurmountable, and learn how to have a successful financial future.

In this episode, you’ll hear a real-life success story. Cara, who lives near Boston, was drowning in credit card debt five years ago. Today she is debt-free and has good credit.

We’ll also talk to Bruce McClary, a senior vice president at the National Foundation for Credit Counseling, a nonprofit dedicated to helping people deal with debt and better manage their finances. Find out how the counseling process works, and why some of the advice provided by for-profit debt relief companies can make your situation worse.

Additional Resources:

To find a nonprofit credit counseling agency, visit the National Foundation for Credit Counseling or call 800-388-2227.

credit cards, finance, money

Related Episodes

July 10, 2025

90 – Buy Now, Pay Later

Host: Herb Weisbaum /

Guest(s): Ted Rossman - Senior Industry Analyst at Bankrate.com; Lauren Saunders - Associate Director, National Consumer Law Center

Buy Now, Pay Later (BNPL) financing continues to grow in popularity. These short-term loans, which are typically 6 weeks and usually interest-free, appeal to consumers who want flexible payments and no credit card debt.

Consumer advocates warn that BNPL services make it too easy for people to purchase items they can’t afford, which can result in late fees and costly bank charges. Personal finance experts worry about the growing number of people who use BNPL to buy everyday items, such as groceries, gasoline, and food delivery services.

In this episode, we discuss how BNPL works, the possible pitfalls, and the smart way to use these short-term loans.

Related Consumerpedia Episodes:

Episode 80: Debt Busters: Real-Life Success Stories
Episode 50: Finding a Credit Card That’s Right for You

Additional Resources:

Bankrate: About half of buy now, pay later users have experienced issues like overspending and missing payments
National Consumer Law Center: Risks and Advice for Buy Now, Pay Later Borrowers
Consumer Financial Protection Bureau: CFPB Research Reveals Heavy Buy Now, Pay Later Use Among Borrowers with High Credit Balances and Multiple Pay-in-Four Loans

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finance, money

April 17, 2025

84 – Free Perks You Didn’t Know You Had

Host: Herb Weisbaum /

Guest(s): Jamie Lettis - Checkbook Associate Editor

Whether it’s a complimentary dessert, an unexpected upgrade to a better hotel room, or you find a $20 bill in your coat pocket, we all like freebies.

The staff at Checkbook sifted through member benefits for credit cards, warehouse clubs, health plans, and AAA. We discovered dozens of perks that are often overlooked. If you don’t know about them, you may be missing out on significant savings.

⁠Read Checkbook’s full report on free perks⁠.

Not a Checkbook member? ⁠⁠⁠⁠⁠Sign up for a free 30-day trial to access all of our unbiased ratings⁠⁠⁠⁠⁠.

auto, finance, health, home, leisure, money, shopping, technology, travel

February 20, 2025

80 – Debt Busters: Real-Life Success Stories

Host: Herb Weisbaum /

Guest(s): Jonathan Unverzat & Johnika Nixon - debt counseling success stories; Lara Ceccarelli - NFCC certified credit counselor with American Financial Solutions in Bremerton, Washington

Americans are piling on credit card debt at an alarming pace, and the unprecedented interest rates on these unpaid balances can be as much as 30% to 35%. No wonder it seems impossible to get out from under it.

But with hard work and proper guidance, you can do it. In this episode: Meet two people who were drowning in credit card debt and got their finances back in order. Also, a certified nonprofit credit counselor explains how debt consolidation works and the dangers of using a for-profit debt settlement company.

Not a Checkbook member? ⁠⁠⁠⁠Sign up for a free 30-day trial to access all of our unbiased ratings⁠⁠⁠⁠.

credit cards, finance, money

November 27, 2024

75 – Checkbook’s College of Consumer Knowledge #1

Host: Herb Weisbaum /

Guest(s): Dave Ross & Colleen O’Brien, morning anchor team at Seattle’s KIRO Newsradio

We’ve come up with a fun way to celebrate our 75th episode: An old-fashioned radio quiz show, featuring the morning anchors at KIRO Newsradio in Seattle. Dave Ross and Colleen O’Brien are old friends, who have Herb as a regular guest each week, so we had a lot of fun doing this.

Play along with Dave and Colleen as they try to come up with the right answers. ⁠You might also want to play the online version of Checkbook’s College of Knowledge⁠.

Not a Checkbook member? ⁠⁠Sign up for a free 30-day trial to access all of our unbiased ratings⁠⁠.

Support our podcast: https://podcasters.spotify.com/pod/show/consumerpedia/support

college of knowledge, finance

October 31, 2024

73 – Checkbook’s Holiday Shopping Tips 2024

Host: Herb Weisbaum /

Guest(s): Jamie Lettis - Checkbook's Associate Editor; Edgar Dworsky - Publisher, Consumerworld.org; Amy Nofziger - AARP Fraud Watch Network, Bruce McClary - National Foundation for Credit Counseling

The hectic holiday shopping season is underway, and for many, that will put a strain on the family budget. Checkbook wants to make this stressful time a little easier.

Our annual holiday helper is packed with timely advice: Super shoppers share tips about how they find the best prices and avoid fake sales. Plus, how to avoid gift card scams, stop porch pirates, and spot bogus online shipping notices. Also, the pros and cons of buy now, pay later loans.

Additional Consumerpedia Episodes & Resources:

Checkbook’s Top Holiday Shopping Tips

Don’t Overspend This Holiday Shopping Season

#59: Saving Money at the Supermarket

#58: Misleading Marketing Gets You to Buy Now and Pay More

#57: Whatever Happened to Customer Service?

#52: Shop Safely Online This Holiday Season

#26: Sale Prices Are Rarely Real Deals

Not a Checkbook member? ⁠Sign up for a free 30-day trial to access all of our unbiased ratings⁠.

Support our podcast: https://podcasters.spotify.com/pod/show/consumerpedia/support

finance, leisure, money, shopping, stores

July 25, 2024

68 – Rewards Cards

Host: Herb Weisbaum /

Guest(s): Brad Lipton - CFPB; Steven Carvell - Professor of Finance at Cornell University; Christopher Elliott - Syndicated Travel Columnist

Whether it’s points, miles, or cash back, it’s nice to be rewarded for shopping. The lure of “getting something extra” can encourage you to apply for new credit cards and spend more to score those rewards.

In recent years, many credit card reward programs have become more complex and confusing, and frustrated cardholders are complaining to federal regulators.

In this episode: Should the CFPB create new rules to regulate credit card rewards programs? Also, a close-up look at the most common complaints about airline rewards cards, and how chasing rewards can cost you money.

Additional Resources:

Credit Cards: How to Choose the Best One

Credit Cards Provide Strong Protections for Consumers

Saving on Gas: Which Rewards Credit Cards Offer the Best Deals at the Pump?

Not a Checkbook member? ⁠Sign up for a free 30-day trial to access all of our unbiased ratings⁠.

Support our podcast: https://podcasters.spotify.com/pod/show/consumerpedia/support

credit cards, finance, money