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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.

Sovereign Funding Sends Tribal Debt Consolidation Mailer to Consumers

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A reader sent in a mailer which struck us as interesting because it was sent from the same postal permit 1297 that many of the debt relief mailers we’ve written about in the past had been sent from. This mailer appears to promise a debt consolidation loan. The reader sent the mailer through my I Buy Junk Mail program. The ... Read More »

Merchant Growth Capital Mailer Concerns Reader

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A reader expressed concern about a mailer they received which looked to be a pre-approved check but instead turned out to be an offer for a loan. The reader sent in a new debt relief mailer through my I Buy Junk Mail program. The inside of the mailer appears to state the money is available for use and “You do ... Read More »

California Sues a Number of Colleges for Doing Bad Stuff

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The California Attorney General has filed suit against some recognizable college names claiming they engaged in “false and predatory advertising, intentional misrepresentations to students, securities fraud and unlawful use of military seals in advertisements.” – Source The complaint names Corinthian Colleges, Heald College, Corinthian Schools, Sequoia Education, Career Choices, MJB Acquisition Corporation, Titan Schools, Rhodes Colleges, Florida Metropolitan, and Everest ... Read More »

Government Agencies Request Banks Be Gentle With Borrowers

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The Office of the Comptroller of the Currency, Board of Governors of the Federal Reserve System, Consumer Financial Protection Bureau, Federal Deposit Insurance Corporation, and National Credit Union Administration are all asking banks and lenders to be gentle with borrowers. The agencies are encouraging financial institutions to work with customers affected by the federal government shutdown. They say, “Prudent workout ... Read More »

My Private Student Loans with Citibank and Sallie Mae Are a Mess

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“Dear Steve, I am currently in student loan repayment. I have consolidated my federal loans, but my private loans are a mess. I had 4 through Citibank, but 2 of them were “bought out” by Discover. So now I have 1 monthly payment for my federal loans and 2 monthly payments for my private loans. I also have another private ... Read More »

Can I Still Do an Adversary Filing on My Old Bankruptcy Over Student Loans?

Student Loan Corkboard Concept

“Dear Steve, My wife and I filed for bankruptcy in 2005. I tried including my student loans but was told I couldn’t. I was never told about this adversary filing. I filed for bankruptcy as a result of medical illness. At that time I was Declared legally disabled for a closed period of time.(yes during the time of filing) I ... Read More »

Consumer Protection Counsel in Florida Raises Questions

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A company called Consumer Protection Counsel in Florida has raised some questions for me and I’m hoping readers can provide some feedback about them. What I heard was Consumer Protection Counsel, PA was allegedly going to charge a consumer more than $50,000 to deal with student loan issues. What made this curious and worth asking for public feedback was the ... Read More »

Meracord / NoteWorld Falls to CFPB. Global Client Solutions to Follow?

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Yesterday the Consumer Financial Protection Bureau announced an action and settlement against Meracord, previously known as NoteWorld. Meracord was one of the two primary players assisting debt relief companies to collect money from consumers and then pass it on to debt relief companies. Global Client Solutions is the second. What makes this current episode all seem so silly was the ... Read More »

Debt Care USA Added to Scott Law Group Hit List

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The Scott Law Group, the Spokane law firm that has seemingly specialized in pursuing many debt relief companies has added a new company to their list. Debt Care USA has been added after a September 27, 2013 class certification in Spokane County Superior Court. Case documents can be accessed here. As of today the companies listed in play with The ... Read More »

CredAbility and ClearPoint Credit Counseling to Merge. Watch Out MMI.

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In what comes as no big surprise, the consolidation of the credit counseling industry continues. This time with a big announcement from two players whose merger will create the second largest credit counseling organization. “CredAbility and ClearPoint Credit Counseling Solutions announced on Oct. 1 that they have agreed to merge their two organizations, effective December 31, 2013. The combination will ... Read More »

Watch Out for Utility Scam Warns FTC

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Imagine receiving a phone call from your utility company saying they’re about to cut off your electricity. The caller ID looks like it might be a legitimate phone number, but you know you’ve paid your bill. The caller says, “I can stop this, but only if you pay me.” It’s a scam, but there’s a new twist. Instead of asking ... Read More »

What the California Debt Collector Doesn’t Want You to Know

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When consumers are first approached by debt collectors, the consumers have limited options: avoid the letters and calls; try to negotiate a settlement or payment plan; or go on the offensive and attack the collections agencies. Each has its strengths and weaknesses depending on the type of debt, who the creditor is, who the collections agency is and the financial ... Read More »

FTC Halts Elusive Business Opportunity

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At the Federal Trade Commission’s request, a federal court has halted an elusive business opportunity scheme that allegedly conned more than $6 million from American and Canadian consumers. The FTC has alleged that the defendants falsely promised consumers that they could make money by referring merchants in their area to the defendants’ non-existent money-lending service. The court froze the defendants’ ... Read More »

I’m an Optometrist Trying to Eliminate My Student Loans. – Jennifer

Debt Consolidation Loan Approved Stamp Shows Consolidated Loans Agreed

“Dear Steve, Optometrist graduated in 1996, consolidated student loan debt with Sallie Mae shortly there after, HEAL loan at 9% interest fixed, other loan 4% Stafford? Been paying over 17 years on debt and am current. Also have about $30,000 in credit card debt unable to bring down, husband has about $30,000 as well. What can I do to consolidate ... Read More »

California Attorney Sentenced to Prison in Financial Services Action

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- Christy Romero, Special Inspector General for the Troubled Asset Relief Program (SIGTARP), and André Birotte Jr., United States Attorney for the Central District of California, today announced that a Santa Monica, Calif., lawyer who was a partner at the Nixon Peabody law firm when he helped obstruct two separate investigations into an investment scheme that ultimately took $22 million ... Read More »

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