How to Get Out of Debt with Efren Cruz (Episode 54)

Updated: December 11, 2021

Listen to Episode 54:

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Episode 54 Chapters:

  • 01:24: CDRW
  • 06:35: Why People Get Into Debt
  • 11:11: Early Sign of a Debt Problem
  • 14:20: Arlene’s Message
  • 17:28: How Common are Debt Problems?
  • 21:32: Can You Go to Jail?
  • 26:12: Episode Break
  • 28:18: Debt Settlement
  • 33:46: Is It Ever Hopeless?
  • 36:10: Enrich GOOD Program

Excerpts and Highlights:

People get into debt because of instant gratification. They focus on the benefits of buying the item they want and not the implications of borrowing money to buy the item.

Don’t avoid your creditors and debt collectors. Talk to them respectfully and ask for a discount to settle your debts.

The truth is, getting out of debt is going to take financial discipline. It will be difficult and it will be painful. But the good news is, that pain won’t last forever, and your sacrifices will be worth it.

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