Answer: I’m confused. Are you telling me that you just got out from under $800 worth of car payments each month, and now you want to go right back and pick up another one? I think you’ve missed the point of my plan. The point is to get out of debt, because living debt-free is less stressful. Live like no one else, so that later you can live like no one else!

What you’re saying is you’re thinking about putting your family’s financial future in jeopardy because you want to go on a little camping trip in a roomier car. This is a really bad plan. You’re talking about a luxury item. I went without a vacation for four years trying to get my life back together after I went broke. Now, I’m not suggesting that you live with this attitude for the rest of your life, but I’m pretty sure there are other ways to make this trip happen.

You don’t need a different vehicle to go camping. Buy a couple of tents, throw them in the back of the car, and head for the woods. If your cars are really just too small to handle everything, then rent a bigger car for the weekend. I’d rather you spend a couple hundred bucks on that instead of picking up another car payment.

I think you need to do some soul searching on this one. Your mindset worries me, because it’s just not logical. If you want to get out of debt so you can have a better life, then why in the world would you go out and saddle yourself with more debt all over again?!

Question: How do you feel about debt management companies? Can they actually help you reduce and get out of debt?

Answer: My advice is to stay away from debt management companies. If you go to the Federal Trade Commission’s website, you’ll find that debt management companies receive more complaints than just about any other type of business. In other words, tons of them are operated poorly to the point of incompetence, or they’re just plain scams.

Debt management companies don’t wave a magic wand and make your problems disappear. The only way a creditor will take less than they’re owed is if you’re way behind on payments, and they’re afraid they won’t get paid. And, if it comes to a settlement situation, you have to watch your back. Always make sure you get any settlement offers and agreements on your own and in writing—no exceptions. And never allow a creditor to have electronic access to your bank accounts.

But the big problem is that you need to fix your behavior when it comes to handling money. You can do that a lot cheaper than any company. But if you don’t get control of your money, start living on a budget, and living on less than you make, your debt problem is going to hang around your neck for the rest of your life!