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Author Archives: Steve Rhode

Steve Rhode
Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

Consumers Shedding Problem Debt Less and Less

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The latest round of bankruptcy filing numbers is out and it paints a picture many in the debt relief industry see firsthand, a decrease in demand for debt relief services. Since the debt relief industry fails to provide any specific numbers about consumer demand, the best measure we have is to use the U.S. Courts bankruptcy filing numbers as a ... Read More »

How Can I Get My Father Off My Private Student Loans as a Co-Signer?

loan-approved

“Dear Steve, I’m about $80,000 in debt in private student loans. I’m behind on my payments and my credit is a mess. My father co-signed on my loan with his perfect credit. I was wondering if you had any advice for me. Is there any way to consolidate private student loans without adding a co-signer? I am trying to consolidate ... Read More »

Juror Scam to be Aware of Says U.S. Courts – Scam Alert

Know who you are really working with so you don't get scammed.

The U.S. Courts are warning about something they say is a new scam consumers should be aware of. According to the courts, the juror scam email fraudulently seeks personal information that could aid identity theft and has been reported in at least 14 federal court districts. According to the Administrative Office of the U.S. Courts, citizens received emails claiming they ... Read More »

Work-At-Home Scammer Tried to Hide Assets Says FTC

oops

At the Federal Trade Commission’s request, a federal court has imposed a $26.9 million judgment against the operator of a phony work-at home scheme who lied about his financial assets in an effort to hide them from the FTC when he agreed to settle with the agency in 2010. Jonathan Eborn was one of the marketers behind a work-at-home scheme ... Read More »

Sallie Mae Says There is Nothing They Can Do to Help Us With Massive Loans

student loan debt

“Dear Steve, My husband and I have been married for 6 months and have a baby due in the fall. My husband has over $100,000.00 in Sallie Mae private loans. His parents took these out for him on his 18th birthday, and sent him to a private college out of state where he graduated in 4 years with a bachelors ... Read More »

FTC Says It Stopped Office Supply Scammers

ftc

At the Federal Trade Commission’s request, a federal court has temporarily halted and frozen the assets of an operation that bilked nonprofits, businesses, and municipalities out of millions of dollars by deceptively sending them overpriced light bulbs and cleaning supplies that they never ordered. The FTC seeks to permanently stop the illegal practices and make the defendants return victims’ money. ... Read More »

U.S. Fines Bank of America for Hustling Mortgage Loans

Real Estate Concept

U.S. District Judge Jed S. Rakoff yesterday ordered Bank of America to pay a significant civil penalty of $1.27 billion for fraud it committed before and during the time taxpayers invested $45 billion in the bank through the TARP bailout. Additionally, former Bank of America executive Rebecca Mairone was ordered to pay a civil penalty of $1 million to the ... Read More »

The Most Overlooked Way to Stop a Federal Student Loan Wage Garnishment

Stop Countrywide Mortgage Abuse

“Dear Steve, Student Loan in default. I have been paying my wage garnishment for almost a year. First of all, THANK YOU for being so helpful with these articles. I am trying to find more information on this new law is nearly impossible which I find odd and discouraging. So having your articles to read is so helpful. I wanted ... Read More »

Did the CFPB Just Totally Blow Off CCCS and NFCC?

Adult Ed - Questions

I could not help but notice an absence of some familiar faces in an announcement by the Consumer Financial Protection Bureau (“CFPB”) today on financial education. The CFPB announced an inspired national project to help those most in need to get more education about managing their finances. You would have expected the National Foundation for Credit Counseling to have been ... Read More »

My Elderly Mother is Struggling in Credit Counseling. What About Bankruptcy? – Tracey

Sad Elderly Lady

“Dear Steve, My mother is 77 years of age. Her memory is no longer the best for her finances and she gets confused as to who gets paid what and how much. the debts, even though she doesn’t even use the cards but one walmart for groceries the interest rates and payments have gone over the roof so to speak. ... Read More »

Yet Another Bullshit Debt Relief Mailer From Anonymous

2014-07-26 13.03.34

Thanks to an awesome reader who received this recent debt relief mailer, I can share it with you. Just when you thought the debt settlement industry had cleaned up their act and was flying right, or at least a lot more level, comes this mailer. Again we have the standard deceptive mailer that appears to pretend to be an official ... Read More »

Four More in Custody for Mortgage Modification Scam

mans hands behind bars in jail or prison

It’s been a rough week for companies who are selling mass joinder and mortgage modification help. See here, here, and here for stories. But today brings a new round of alleged bad debt relief actors landing in trouble with the law. According to the Office of the Special Inspector General for the Troubled Asset Relief Program on Tuesday, federal agents ... Read More »

CFPB Goes After Mortgage Relief Scammers

cfpb

Consumer advisory: Don’t fall for a foreclosure relief scam or bogus legal help The Consumer Financial Protection Bureau (CFPB), the Federal Trade Commission (FTC), and 15 states announced a sweep against foreclosure relief scammers that used deceptive marketing tactics to rip off distressed homeowners across the country. The Bureau is filing three lawsuits against companies and individuals that collected more ... Read More »

Hoffman Law Group Mass Joinder Marketing Complaint Unsealed

Young man looking shocked in tablet pc

Last week the Consumer Financial Protection Agency and the State of Florida filed a complaint against a whole host of folks for selling consumers mass joinder lawsuits against their lenders. The named Plaintiffs included Benn Willcox, BM Marketing Group, File Intake Solutions, Legal Intake Solutions, Marc Hoffman, Michael Harper, Nationwide Management Solutions, The Hoffman Law Group, and The Residential Litigation ... Read More »

World Law Group Still Slogging It Out With North Carolina

Wake-Courthouse

It was just brought to my attention that the issue between the debt settlement group World Law and The State of North Carolina is still going on. There was even a recent amended complaint filed by the State. In the latest round of public documents the State makes the following claims in its June 25, 2014 filing. The Amended Complaint ... Read More »

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