Money Matters
Money Matters
Debt Detox: Expert Guidance with Leslie Tayne, Esq
Join me, Kim Chapman, as I engage in an enlightening conversation with Leslie Tayne, a veteran debt attorney with over two decades of experience in navigating the complicated world of debt management. Ever wondered why quick fixes for debt are often too good to be true? Leslie helps unravel this mystery, revealing why each financial dilemma requires a tailored approach and highlighting the critical role of budgeting in avoiding the debt trap. Our discussion also sheds light on the precarious reliance on credit by individuals and small businesses, often leading to spiraling debt issues, and explores the serious implications of bankruptcy as a necessary but consequential option.
We then transition into a thorough examination of strategies like debt settlement, consolidation, and refinancing. Leslie offers her expert insights, warning of the pitfalls of debt consolidation loans and the importance of maintaining stellar credit for refinancing. She stresses the value of professional guidance from a debt attorney to steer clear of misleading promises and ensure a well-mapped-out path toward financial freedom. Listeners are encouraged to seek professional counsel early to dodge common missteps and seize opportunities in resolving their financial obligations.
In our final segment, we explore how the COVID-19 pandemic has shifted the financial landscape, emphasizing the importance of responsible debt management and achieving financial independence. Leslie shares her inspiring journey as a single parent and financial expert, underscoring the need for adaptability in financial strategies during life's transitions. We also discuss the significance of cultivating a positive relationship with money and being resourceful with financial education opportunities. Tune in to discover actionable steps and resources to help build a solid financial foundation and secure your path to financial stability and success.
How to contact Leslie:
https://attorney-newyork.com/about-us/leslie-tayne-bio/
Have an idea for a show or a question for Kim? Send us a text message
Welcome to Money Matters, the podcast that focuses on how to use the money you have, make the money you need and save the money you want – brought to you by Neighbors Federal Credit Union.
The information, opinions, and recommendations presented in this Podcast are for general information only and any reliance on the information provided in this Podcast is done at your own risk. This Podcast should not be considered professional advice.
Welcome to Money Matters, the podcast that focuses on how to use the money you have, make the money you need and save the money you want.
Speaker 2:Now here is your host, ms Kim Chapman. Welcome to another edition of Money Matters Podcast. Today, we're tackling a topic that affects millions of people debt. Whether it's student loans, credit card balances or unexpected medical bills, debt can feel a bit overwhelming at times. I mean, eight out of ten Americans have debt, so I know I'm speaking to a lot of people, but don't worry. This episode is all about providing you with a debt detox. I've heard of a lot of detoxes. Some of them work, some of them don't but a debt detox aren't you curious? Don't you want to know what that is? Well, today we're excited to welcome Leslie Tain, an experienced debt attorney and founder of Tain Law Group. Now she has over 20 years of experience, so I know that she has something that you are going to want to hear if you have some debt. Welcome Leslie.
Speaker 1:Thank you for having me. I'm excited to be here.
Speaker 2:I am so excited to tackle this topic. I mean debt, it's everywhere. It seems to be growing. If you look at the numbers, it's a little bit scary. So let's go ahead and get started and just telling me a little bit about your background and how you became a debt attorney.
Speaker 1:So I've been an attorney now for over 25 years and I've been focusing in the financial world for consumers and business owners resolving debt. I really started out as in-house counsel to a company that was focusing on the debt resolution processes early in my career and then I felt like there was something missing in the community for real solutions for people who needed the legal advice and the support. So I started my own firm and it's just morphed and continued to grow over the years into what it is today, which is a very supportive environment for businesses and consumers who have debt-related issues and credit matters.
Speaker 2:So, lastly, what are some of the most common types of debt issues you see in clients today?
Speaker 1:The most common issues that we're seeing in debt is still credit card-related debt. The issue really is an inability of the average household to keep up with expenses and therefore using credit to supplement income and pay for expenses. That's a pretty common issue that overall causes the debt problems. So it could be a consumer that's doing that and it could be a business owner that's doing similarly in their business where there's not enough money to cover expenses.
Speaker 1:So they take out different types of funding products that then supplement the income because there's just not enough cash flow to meet the obligations.
Speaker 2:Yes, that's definitely common. So, in your experience, what are some of the biggest misconceptions that consumers have about managing debt? You?
Speaker 1:know. I think for me you know over the years of working with thousands of people with debt-related issues the biggest misconception is that there's a quick fix. There really is no overall quick fix. It's not like you can just find a way and that's the best solution for you. Oftentimes people call me up and they say you know, my neighbor, friend, relative, they did this and they're out of debt. And I want to do the same thing. And there's no two debt solutions that are the same. Each person is an individual, their financial situation is individual and each financial situation has its own DNA and therefore the solution to resolving the debt issue is much more complex than just a simple fix. So I think misconception-wise that people think it's just easy to fix.
Speaker 2:So, as you mentioned, no two debts are alike, no two scenarios and that's often what I tell. You know the clients that I see. It's kind of like you can both have a cold, but the doctor may give you completely different prescriptions. But are there ever situations where it's too late to get help for debt and that maybe bankruptcy is going to be the only option?
Speaker 1:Generally, when you're far down the road with a lot of debt maybe you've been sued, you know you have frozen bank accounts, liens against your property. That's pretty far down the road with debt. The bankruptcy card is a viable option under certain circumstances and the way that I explain this to clients is that if you can afford the solution for an alternative to bankruptcy, that if you can afford the solution for an alternative to bankruptcy, that is ideal. If you cannot afford that solution you cannot put food on the table, you cannot pay your rent or your mortgage then you need to consider bankruptcy as a serious option. Bankruptcy is a very extreme option when it comes to resolving debt, and sometimes I see people push into bankruptcy with small amounts of debt that can easily be resolved, when in fact, that the larger amounts of debt where they're just completely overwhelmed and there's nothing that can be done to save that person and that really comes down to budget. So if you can afford the alternatives, like I said that I find a situation where the person is really that far gone that I can't turn it around.
Speaker 1:The turnaround process may not always fit in with the goals and objectives of the client, right. So you might say that you know I I can't withstand a two to four year process, which is what the average time is to resolve debt. So in bankruptcy you may not qualify for bankruptcy. It's not an automatic right. You have to qualify and meet what's called a means test, and that means test is a formula to determine which, if any, of the bankruptcy options are available to you.
Speaker 1:So it's an extreme proposition and it will impact insurance, licenses, all kinds of things for the next 10 years, and that there's a lot of fallout and consequence for doing that. Yes, of course, the upside is that you are completely out of debt to a certain extent, but the downside is the damage to the credit and the downside is the damage irreparably in some cases to your reputation financially. That requires good financial health, things like insurance and certain licenses for many of my clients and security protocols for my clients, either in the military or government work or things like that. So, with that said, you know, looking at the two options, you know bankruptcy may not work, but it might be an option and it is an option if you really cannot afford any other alternative.
Speaker 2:So let's talk about some of those alternatives. Can you explain the difference between debt settlement, debt consolidation, debt management plans and then maybe some red flags that individuals should look for if they're considering those programs, Because of course, we know there's a lot of fraudulent offers out there for consumers?
Speaker 1:There sure are. There's a lot of scams out there, unfortunately. Anything consumer based or finance based, that's a really nice breeding ground for opportunists who take advantage of consumers in vulnerable situations. So if you're a consumer or business owner in a vulnerable situation financially, be aware that a fast talking salesperson can put you into a situation that can make things a lot worse. So be self-protective. But I think it's a good differentiation because there's a lot of information that's out there and it's uber confusing.
Speaker 1:Debt consolidation is a very general term and under that umbrella includes things like debt settlement, bankruptcy, debt consolidation, which could include new loans, refinancing, balance transfers so the debt consolidation overall term is very all-encompassing. When you break that down to debt settlement, debt refinancing there are options based on your credit, the type of debt you have and, obviously, your goals. So with debt settlement it's been around now for a little while it can be very, very successful. It's just unfortunately done often by those that don't have the best intentions for consumers and therefore there are a lot of states with now regulations on the debt settlement companies and I would recommend, if you're looking into it, that you double check with your state. Oftentimes there's an attorney exemption, meaning an attorney licensed to practice law in that state, who practices exclusively in the debt settlement area, is often exempt from the licensing for obvious reasons, due to accountability of the license of the attorney.
Speaker 1:But if you're looking into the debt, settlement and other things like that, debt consolidation be aware that you are vulnerable and you can be solicited and sold, something that is the worst thing that could happen to you. So, with that said, that's why backtracking and being aware and trying not to make decisions when you're emotionally entrenched and stressed out is the best way. When pulling the trigger on a different type of program In debt settlement generally, what you're doing is negotiating for less than the balance owed. In a debt settlement situation, you can't be current. There's no way any creditor will negotiate a settlement if you continue to make current and on-time payments. That's not the way it is. The hardship is that you're not making the payment, but obviously there's consequences to that, and the right firm and the right company or organization will guide you through that and minimize any impacts you and shield you from those challenges, which is what we do In a debt consolidation.
Speaker 1:When you're refinancing, you have to have great credit, stellar credit. Stellar credit today is over 740, at least, and even close to 800. When you gotta have money in the bank, a really solid job, a job history, in order to get the best rates and right now, interest rates, even though they've come down a little bit, are still pretty high. So you're not getting great rates, even with some of the best credit on debt consolidation loans. And again, the challenge with a debt consolidation loan is that they'll try to push you into the loan situation because that's the benefit of the loan company, that's how they work and that's their business model. But it may not be the best thing for you because a debt consolidation loan consolidates the debt but doesn't resolve the underlying issue, so you could end up with debt consolidation loan and new credit card debt. So bankruptcy is the third option under a debt consolidation umbrella.
Speaker 1:And then there's consumer credit counseling services, which are considered not-for-profit, but be aware that not-for-profit doesn't mean that the people who run that don't make money. They do and they have salaries. So don't let the not-for-profit entice you into working with somebody, because it's simply not-for-profit, which is a tax status. They still earn money. It has to be the right fit for you, and a consumer credit counseling service basically works with your creditors to reduce the interest rates, but it doesn't necessarily hit your principal balance. So there's lots of different options out there and unfortunately, when you get into a vulnerable position, you start going online and obviously anything you do online is tracked.
Speaker 1:So there's lots of ways to find you and they'll find you and mail you things, solicit you, call you, tell you that they'll sell you rainbows and butterflies, make you guarantees and promises. Those are all red flags for consumers and business owners to be aware of. There is absolutely, in 25 plus years of me doing this, no way for me to tell anybody a definitive number from any creditor ever, or timeframe. There are so many variables that go into the resolution of debt and under the debt consolidation process that there's no way to know what those are. If there was, I'd be long retired and I'd be done, but there's no way to know that. So If it was, I'd be long retired and I'd be done, but there's no way to know that. So anybody making you definitive promises and asking for money up front, bank account information or otherwise, you know you really need to do your research. Go online, see who they are, find out their full names, put their names in the search engine, see who you're talking to and be just super careful and advocate for yourself.
Speaker 2:That's the best way to help yourself with a debt problem. You know, I imagine some of our listeners, this explanation is maybe taking a load off of them and saying, oh, I get it now, I have a plan of action, but there are gonna be some that are just gonna be listening and feeling overwhelmed. So when should someone consider working with a debt attorney like yourself? When they just feel like this is?
Speaker 1:Generally, the best time to work with somebody like me is when you start to realize that you're having a problem, because when you work with somebody you know a debt attorney the incentive is and the goal is to inform you, as the client, what you can expect and lay out a roadmap. Once that roadmap is laid out, then myself, as the advocate, will go and implement that strategy and that program so that the client is in a better place. It is not great to think and I just had this today. Actually somebody called me months ago and now they're in a worse position. They have a judgment against them from somebody who promised that they would help them, who never did, and now they have a lien against the property and a sale notice on that property. And so it's not that that person is too far gone and, yes, potentially bankruptcy might be the outcome. But it would have been better to, when they first started to smell smoke, that they hired me, because I would have given me and whoever you're hiring enough time to work through the challenges. But what ends up happening is that because there are so many opportunities out there and when you talk to all these different people, you know there's a lot of people that will say that they'll help you. But you're really on a short timeframe.
Speaker 1:Once you start to go delinquent with debt and you can't pay it, it's a slippery slope.
Speaker 1:So once you realize that you're not going to be able to meet the obligation, that's the time to reach out to a debt help a debt settlement attorney who works in this area and knows what they're doing.
Speaker 1:Interestingly, this other case, this particular attorney that this person went to before in between initially talking to me now, was somebody who did something in with consumers, but not the actual area that the client needed. So you don't want to be an experiment. You don't want to be somebody who they're learning off of, because if you miss deadlines and you miss the timeframe, you can miss opportunities to get the debt resolved appropriately. So, working with somebody with experience background, who has an accountability, with experience background, who has an accountability, you know there's something that you know I have to lose, more so than my client, right? So my license is most important to me as a, as an attorney, and so I think as a consumer. When I'm looking for the best possible solutions, some people think oh no, I don't need an attorney, because an attorney feels kind of scary and serious, and why would I?
Speaker 2:need an attorney for this.
Speaker 1:I could just you know there's so many ways to do this. I could do it myself, or you know, in a lot of ways you can, but it's not an area that you, as a consumer, use on a regular basis. So it makes it kind of challenging to learn as you go and you don't necessarily know you're getting the best deals and whether it's being done right and whether it's going to come back to haunt you later. So I think early on it makes sense. I'm a big believer in you know I'm not an expert in everything. So I'm a big believer in going to people who know what they're doing on things, because I'd rather cut the chase and get it done right the first time than have to backtrack and fix a mistake, because either I tried to do it on my own and I had no idea what I was doing, or I went to somebody because I was penny wise and pound foolish and I kind of felt like I didn't want to spend the money.
Speaker 2:And, I think, one of the motivating factors for individuals to take action and to seek help. Like you mentioned, sometimes it's a little too late because it's after the debt collectors are calling them. So what should people know about their rights in terms of debt collectors calling them?
Speaker 1:So it's not too late to get help.
Speaker 2:If debt collectors are calling, you know, but remember that when debt collectors are calling, you know at that point your accounts are now delinquent.
Speaker 1:So there are some laws and rules and local laws that surround debt collection activities for consumers, and that's one is called the Fair Debt Collection Practices Act. The FDCPA is a federal law that was enacted to help consumers and regulate collection agencies for consumer based debt. But again, that's not first party, so that's not the original creditor, those are secondary parties and not people who are collecting the debt for themselves, and that regulates times of calls, content of calls, things like that, and for the most part, honestly, after all these years, I can say pretty safely that most creditors follow the FDCPA and it's unlikely you're going to get somebody calling you up and calling you names and cursing you out. That's pretty rare, except in business debt. In business debt that's a whole other world and we see that happen on a regular basis, but in consumer-based debt that's pretty much under control these days. So as a consumer, you can be sure that it's likely that you'll be somewhat protected by these rules and laws.
Speaker 1:I think one of the things that clients and consumers like to do and anybody in debt likes to do initially is just dump information onto the debt collector, which is probably the worst thing you could ever do is tell them everything under the sun from the moment you were born and how you got the debt and why you shouldn't pay it.
Speaker 1:Shouldn't pay it whatever it is. So I think it's giving away too much information. And again, working with an experienced advocate can help guide you in what information should be given to a debt collector and what information you should not. Because I often tell clients if you've already tried to negotiate this on your own and were unsuccessful, and now you're going to come to me to try to fix it for you, I probably can fix it, but I can't guarantee the numbers at that point, because if you told the creditor things and disclosed information to the creditor that impacts their decision-making on settlement numbers or resolution processes or even the legal process, you kind of shot yourself in the foot. And again and it's expected in some ways because the consumer doesn't know. So they think that it's better to just tell them everything. But it's really better less is more to have more of an informational conversation with the creditor, ask questions and disclose what's needed to disclose in order to achieve your goals.
Speaker 2:Is there any sort of checklist that's available in terms of what you should disclose and what you shouldn't disclose available?
Speaker 1:in terms of what you should disclose and what you shouldn't disclose. You know I should put that together, but you know some of it is case by case basis right. So there are things that we would consider a hardship, that the creditor does not consider a hardship, and I'll give you a quick example. Covid is no longer a hardship.
Speaker 2:It wasn't a hardship in the middle of COVID.
Speaker 1:And the reason why was because the creditors felt that you should be vaccinated. So if you didn't get vaccinated and you couldn't go to work for three weeks because you, you know again, this is not my opinion, this is just a fact of experience. So sometimes people would say to me in those scenarios, but I had COVID and I couldn't work for two weeks, the creditor would say did they get vaccinated? No, no, hardship Click. So you know again what you would consider a hardship and what the creditors consider a hardship could be two different things. And so it's not that I'm not sympathetic and empathetic to my client's situations and the experiences that they have. They're just not always hardships that will induce a creditor to reduce the balance Right.
Speaker 2:So and they hear a lot of things. It's like getting pulled over by the police when you're, you know they hear a lot of excuses and they hear it all the time.
Speaker 1:So the creditors are the same way. They deal with thousands of people who tell them the same thing over and over again and most of the time, unfortunately, the few bad apples spoil it for the rest. So you know, having somebody who understands and can then spin that and say you know, because in certain circumstances we have let's go back to that COVID example clients that have had COVID and now can never work for the rest of their life. And we do have a client who was unfortunately hospitalized for six months and then had a heart attack and all kinds of other issues that then became challenging for that client to keep up with their bills and debts and we needed to advocate for them.
Speaker 1:But again, a basic, simple little situation. You know, while you might think is a hardship, the creditor doesn't. So I'm just using that, you know, for our explanatory purposes. But I will again caveat that with none of that is my opinion.
Speaker 2:Well, since you mentioned COVID, how have you seen debt change, or have you seen it change in relationship to the impact of COVID and just inflation in general?
Speaker 1:So I'll start it from where we are now. So inflation is coming down, so the interest rates are coming down. It's taken a long time. Covid messed everything up in short, sweet language and it caused lots of challenges for consumers and businesses and that trickled down and took years now years to try to clean up and fix. So what we're seeing now is obviously the effects of that situation where the goods and services have now increased and become very expensive, situation where the goods and services have now increased and become very expensive. We're hopefully on the other side of that and it seems as though, economically speaking, that those numbers are coming down. And I say it economically because it hasn't necessarily trickled down to the consumer yet. So that's why not everybody necessarily feels the impact of the changes that have gone on or are going on.
Speaker 1:And you know, what remains to be seen is kind of a good guess. You know, we had many, many years with low interest rates and that benefited people greatly. But the COVID-19 pandemic that didn't just hit our country but impacted situations around the world, left us with, you know, holding the bag of very expensive goods and services, and so, unfortunately, that created a situation where and limited jobs. In the beginning it's not so much now but again. Media post-COVID was challenging job-wise and that left a lot of consumers challenged with how they're going to meet their obligations. So expenses went up, job opportunities went down, income stayed the same and now it's a perfect storm for those people to get into debt. And there are a lot of people that are struggling as a result of that perfect storm. So interest rates coming down quarter percent, half a percent, even a whole percent, it takes time to trickle down.
Speaker 2:And same thing with inflation and when inflation changes and alters, it doesn't happen immediately, it doesn't trickle down to us as the consumers immediately.
Speaker 1:It takes time for that to even out and we may not see those changes for a year or two, and so, as a consumer, you have to be able to roll with these changes. Unfortunately, and living on the edge with no money in the bank and paycheck to paycheck will leave you, as a consumer, very vulnerable. So, overall, your goal on the end of these things, and really what any consumer and business owner should have learned from what we went through is that money in the bank is key, but getting money in the bank is difficult, and to get money in the bank, you have to limit your exposure to debt and expenses and try to keep expenses down. Easier said than done, but it is the best way to limit your exposure. Now having debt is not a big deal and I wrote a book about that the Life in Debt. Having debt is totally okay, but it's a matter of how you manage it and how it fits into your life and what you do with it. That makes it work for you.
Speaker 1:And when we have changes like this in our economy, when we have changes in presidencies, when we have changes in a COVID situation, which hopefully is a once in a lifetime for all of us. You know when you have changes and things impact it, you have wars that are occurring overseas that impact things here back in this country. So you know it's not just one conflict. There's conflicts all over the world that are causing challenges. Not just one conflict, there's conflicts all over the world that are causing challenges. All that ultimately impacts us as consumers and really the best way to insulate yourself from that and ride the wave of challenges financially is money in the bank, and it's again not an easy thing, but overall that should be the goal.
Speaker 2:So you mentioned, having a little debt is okay. So what is your advice for people who've cleared up their debt and want to make sure they avoid falling back into that debt trap again?
Speaker 1:really empowering statement and empowering experience and appreciate what you came from and how difficult it was to get out of debt. The goal at that point is not only to be grateful of it but also to look at what you could do to avoid that, going forward, limiting your exposure to that, to debt situations. Debt situations are job instability, adding things to your household that you can't afford biting off more than you can chew, and you know it's not an easy way to stay ahead of the wave and ahead of that curve. But the best way to do that is to regularly check in with your money and finances. You need to make your money your best friend and a happy relationship with bills. You know the bills come, I'm happy to pay them.
Speaker 1:You know I understand that I have an obligation and I write my checks out happily with positive energy, and I spend a lot of time dealing with a lot of negativity, you know from my clients in terms of what they're experiencing.
Speaker 1:But I look at everything as a positive experience and I think it's the relationship you create with your money and your and your debt that really could change your future. You have to look at it as a positive experience. It's OK to have debt. It's OK to have had debt, to have been in debt, it's OK, even if you had to file bankruptcy and all that's OK, so long as you learn something from it and you can take that into the future and you can say you know, I learned my lesson and here's what I need to do and creating those boundaries. You know, self-preservation, self-protection when it comes to that, and preserving and protecting your money and your finances and your future is really important. Not letting others influence your decision making about money, being independent, even if it means conflict with those that you love about your money and I know that's super hard for people, especially this time of year, with the holidays coming.
Speaker 1:You know it's really digging your heels in and saying I understand that you're not going to be happy with my decision, but this is what's best for me and my money and I and I need to protect that, and if you can stay focused on that that is your number one goal then I think that you can achieve financial health and wellness ongoing.
Speaker 2:But you have to check in with yourself what makes you feel uncomfortable.
Speaker 1:Also, you know in your gut when you're doing the right thing or not doing the right thing. So all of that requires a lot of awareness.
Speaker 2:So you mentioned you wrote a book. Can you give us just a little short snippet about what that book is about? And then if there are any other resources or tools that you that you'd recommend for people to look into that want to learn more about managing their debt.
Speaker 1:So there is a lot of information online and I know that that could be really confusing and kind of overwhelming. So, as far as resources and tools, I find that when I talk to different clients about you know what works for them, it doesn't work for them. You know, sometimes people have to hear it different ways. So I'm a big fan of listening to you know like a Money Matters podcast, so that you can hear it from different people Like where is it resonating for you? I mean, where can you find your inspiration?
Speaker 1:You know there are lots of resources to help you with budgeting. There are lots of resources to stay out of debt. Your bank, right at your banks, have tools to help you with that. There's blog articles and other things. But to really be effective with the information, you have to understand kind of the basics and how does it resonate and relate to you. So I think that really understanding your relationship with money is the first step in finding the appropriate resources and, while you know, for me to advocate for one or two different resources would be remiss in understanding what the needs are and the various needs of all the different people who are listening and understanding that. You know this is it's not an easy road, it just isn't. And staying on that road, you know I was a single parent with. I still am a single parent with three children.
Speaker 1:I raised my kids alone since they were five and seven, and there's a lot that changes over those years. Building a business, paying off my student loans, raising three children in a very competitive environment. You know, dealing with all the things that happen along that way and keeping my head above water and not getting into debt requires a tremendous conscious effort, and you, too, can be there. It's just. It's a commitment to yourself and to your family and to your goals to do that. And the resources that I've used are a lot are actually outside the financial world. You know really understanding myself as a person and being able to be in calm spaces, clearing my head, maybe taking a walk, getting some time away from the kids, or, you know, significant others, and you know, staying away from toxic environments and toxic people, so that you know I can achieve what I'm looking to achieve and not allow that to suck me in. And so you know I've used lots of different resources over the years, from online banking tools to books, to podcasts, to different apps that have really helped me get to where I am. There's not one tool that's going to work for one person. It's a combination of different things that are going to work for you, and it's going to change over time.
Speaker 1:If you're in the middle of a divorce, you're in a storm and when you get on the other side of that, you're going to need different resources than you needed during that divorce. Pre-divorce. If you had a spouse or significant other pass away, you're also in a different situation. And so if you've just finished college or graduate school and you're in debt and you're trying to make your way in the world, your resources and needs are going to be different than you are on the other side of that. You know, 10 years later, when you have a family and you're balancing different things. So your needs and resources are going to change over the years and it's OK that you outgrow them or they no longer serve you and don't work for you.
Speaker 2:And if you read something that somebody else is a huge advocate of, but didn't work for you. That's okay. Well, Leslie, I want to wrap up with asking you this question what's the most rewarding part of helping people overcome their debt challenges? And then, how can our listeners reach out to you if they want to get more information?
Speaker 1:So I absolutely love what I do and the most rewarding piece is that is when I talk to a client, I tell them that they finished their, finished paying off their debt, or I call them with a settlement, and the relief that they feel I hear on the other side is is so incredibly rewarding. I mean, I can fix any of these financial challenges for anybody. There hasn't been a ball I haven't been able to hit, and it's incredibly empowering to do so on behalf of clients and help shape and change what might be their world and their family's world so that they can exist peacefully. You know, my overall goal in my life is a peaceful, happy existence and I hope that in the throes of what's negative here finances and debt that that half glass is half full and positivity comes through, and so that to me, is the most rewarding piece of what I do here.
Speaker 2:I absolutely agree with you there. And how can our listeners reach out to you if they want to learn more information?
Speaker 1:So many ways to find me on the internet, so you can certainly put my name in a search engine. We're on X and LinkedIn and Instagram, tiktok. Everything is either at Leslie H Tain, esq or Tain Law Group. You're welcome to put that into any search term and find us and certainly reach out on any social media. We do monitor that and we'll respond to any DMs or anything that comes through. And you're welcome to give us a call at the office at 866-890-7337. All of our consultations are free, but I do want to say that the consultations talk to us is free but that there is a cost to do work for you, but they're always.
Speaker 1:The consultation and conversation is free and I welcome any feedback and conversations about anything debt related and if I can guide you, I certainly will.
Speaker 2:Well, Leslie, thank you so much for taking the time to share your expertise with our listeners. I am sure they took away a lot of good information and I hope that I can have you back soon.
Speaker 1:Thank you for having me. It was a pleasure you for having me.
Speaker 2:It was a pleasure. Now it's time for our blueprint building blocks. These are actionable steps that can turn your ideas into progress and help you along the way. So for this episode, list and prioritize your debts. Start by listing all of your debts, including the balances, the rates, the minimum payments. You really need to understand who you owe and what you owe. Create a spending plan. That's another way of talking about the B word a budget. Setting a monthly budget that accounts for all of your regular expenses and includes an amount that you can consistently pay towards your debt will help you start paying off the debt little by little. Then reach out for professional help If your debt feels unmanageable. Talk to someone. Neighbors offers free financial counseling. Just make sure that you do what's comfortable for you. And finally, for more information, log on to neighborsfcuorg forward slash financialeducationorg.
