In this episode, you’ll hear the stories of people who finally got their budget under control, but are still staring at tens of thousands in old debt they can’t shake.Debt advisor David Siegel explains the tough options left on the table: lowering interest through programs, negotiating settlements, or, when nothing else works, starting fresh with bankruptcy.Contact David at
[email protected] ✬ SPONSORS OF EPISODE 99 ✬► TWILLORY – Premium men's wear that works hard and looks even better. Use promo code CHAI20 at https://Twillory.com/KosherMoney for 20% off your first order.► BITBEAN – Got big ideas but clunky systems holding you back? BitBean is the go-to team for custom software that actually works for your business. Whether you're in healthcare, finance, or retail, they’ve built powerful platforms that scale smart. Dive into real case studies and connect with their expert team here: https://bitbean.link/4edg53► ZStander – Beautiful Judaica and home pieces for everyday life and special occasions. From wine fountains to candlesticks, honey dishes to bentchers, ZStander makes gorgeous items that are built to last and can even be personalized. Use promo code KOSHER at https://zstander.com/discount/KOSHER for 10% off.► COLEL CHABAD – Our brothers and sisters in Israel need us more than ever. Every dollar makes a difference at https://colelchabad.org/koshermoney/CHAPTERS:00:00 Intro 01:21 Has America Lost Its Mind on Debt? 04:28 Are Credit Card Companies Setting You Up? 06:35 Who David Actually Advises 08:09 The Shame People Feel Around Debt 09:57 Making Sense of Debt in Simple Terms 11:57 Why Budgeting Is the Key to Freedom 14:01 How Money Problems Hurt Marriages 16:31 Twillory Clothing Is Being Spotted Worldwide 17:33 Bitbean + AI Innovation 18:48 3 Practical Solutions for Debt 19:35 How to Lower Your Interest Rate 25:45 The Real Problems With DMPs 29:00 Should You Consolidate Your Credit Cards? 30:08 Going to a Gemach for Help 32:12 Where the Money Really Is in DMPs 33:19 More Ways to Cut Down Your Interest Rate 34:35 Using a Home Equity Line of Credit (HELOC) 37:33 Pros and Cons of a HELOC Explained 40:12 Don’t Let Bills Control Your Life 41:42 The Risks of Borrowing From Family 43:49 Unique & Beautiful Judaica Items from ZStander 45:43 Colel Chabad: Feeding Thousands of Families 46:53 The Dangers of Debt Settlements 52:38 Why You Should Start With a DMP 54:12 What Bankruptcy Really Means 55:28 Who Actually Qualifies for Bankruptcy 57:57 Why You Shouldn’t Rush Into Bankruptcy 58:22 Legal Steps When Filing for Bankruptcy1:00:17 Reasons Not to File for Bankruptcy 1:02:32 Bankruptcy Issues in Orthodox Communities 1:05:58 The Stigma: Bankruptcy vs. Settlement 1:06:54 Why Using Credit Responsibly Matters 1:07:39 How Shmittah Connects to Bankruptcy 1:08:28 Don’t Run Away From Financial Problems 1:09:00 The Living Smarter Jewish Resource 1:09:52 How to Handle Medical Debt1:10:36 What’s Changing With Student Loans 1:12:08 Fun Facts About David 1:12:35 Where You Can Find David 1:13:57 Outro: Final Thoughts + Prizes • GET LIFE INSURANCE! ⟶ Project 120's site: https://www.theproject120.com/• GET A WILL! ⟶ https://youtu.be/bHdpPuvKGVM✬ Support the show! Help us create more episodes like this: https://www.livinglchaim.com/donate💬 Need financial clarity? Visit LivingSmarterJewish.org for free resources.📲 Follow Kosher Money for bonus clips & behind the scenes:TikTok: https://www.tiktok.com/@koshermoneypodInstagram: https://www.instagram.com/koshermoneypod📞 Call-In-To-Listen Hotline:USA: 605-477-2100UK: 0333-366-0154Israel: 079-579-5088📤 WhatsApp feedback: 1-914-222-5513⚠️ Reminder: This episode or description is not financial advice. Always do your own research.#KM
New Zealand