Douglas Eze, Founder of Largo Financial Services Breaks Down Why Debt Is Crippling Middle Income America

The financial landscape is rocky for many Americans these days.

The financial landscape is rocky for many Americans these days. Douglas Eze, Founder of Largo Financial Services has a mission to change the way Americans look at debt and what financial advisors offer clients. People have a lot of different debts and find it difficult to save money because all their money goes into paying down their debt. Eze wants to talk about what debt is doing to middle-income America, he points out that for every dollar a person earns 34% of that dollar goes towards debt or interest.

Eze identifies four main categories of debt that he sees holding people back, that people need a deeper understanding of. Those four areas are credit card debt, student loan debt, mortgage debt, and car loan or lease debt. Eze gives us a breakdown of each area of debt, and why they are crippling middle-income America.

Credit card debt – Credit card debt is what Eze calls the fastest route to ruin your credit. Demographics like students, single parents, and younger people often rack up large credit card debts. It may be a matter of using credit to pay bills, medical costs, and living expenses, and then working to pay that off. This becomes a cycle, and it is difficult to break out of. This high-interest debt almost often results in a bad credit situation and years of debt.

Student loan debt – Going to college is the way for most to get betteer jobs and careers, however when students headed from high school to college take on student debt, often they have no true understanding of what they are getting into. Parents who are working to pay down their own student debt will deplete savings and retirement, or even put up their homes to pay for their children’s college, and the students still need to take out loans. The debt cycle grows, often after graduation students cannot find a high-paying job, but have this debt following them. Eze wants to help people understand there is a better way to approach student debt.

Mortgage debt – Owning a home is viewed as the cornerstone of the American dream, however in reality it is simply another, possibly the largest, debt people take on, that follows them for a lifetime. Eze explains that a mortgage is basically just paying rent to a lender, and the government. Homeowners do not always understand the terms of their loans and can make choices that do not benefit them in the long term, often living cash poor or on credit due to the obligation of their mortgage payment.

Car debt – Financing or leasing a car seems like a good debt and is a necessity for most Americans. However, these are a great way to get into high-interest debt, leases often have fees and mileage limits, and do not serve one’s credit well, though they are often touted as “good debts”.

Eze has developed a system that helps clients get out of debt, called The GOOD Program (Get Out Of Debt), where he teaches clients how to become debt-free in less than 9 years. This system includes mortgages, student loans, credit cards, and car loans with no additional money spent. Eze shows them how to pay off their debt, save thousands in interest, and save money for the future, and how to use their money to take advantage of investment opportunities.

Eze is a wealth strategist, author, financial planner, and founder of Largo Financial Services. Eze realizes there is a gap in the way people view debt and the advice and help they get from financial planners. He works with clients on an individual basis to help them understand how debt works, and then create a plan to get out and stay out of debt. Learn more on his company website,

Matthew Thomas

Written by Matthew Thomas

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