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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.

I’m a Disabled Former Law School Student and I Can’t Pay My Student Loans. – Tony

black-hole

Dear Steve, I have amassed a huge student loan debt from law school over 20 years ago. I never completed law school because of mental health issues. My loans went into default and I have not been in an economic position to make regular payments all of these years. The student loan company (American Student Assistance) takes money from my ... Read More »

Massachusetts One Step Closer to Regulating Debt Settlement

law books

Collections & Credit Risk is reporting the State of Massachusetts is a step closer to regulate for-profit debt settlement companies operating in the state. Debt settlement companies would have to disclose their fees and create a budget analysis before enrolling consumers. “The longer Massachusetts waits, choosing not to oversee this industry, the more consumers will be taken advantage of by ... Read More »

Alleged Student Loan Assistance Employee Warns Consumers

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Both the National Consumer Law Center and this site have provided warnings to consumers over student loan assistance programs that can do more potential harm than good. But an insider with a student loan assistance company and now tipster (send in your tips here) sent in the following warning for readers. “I’m not using my real name for employment reasons. ... Read More »

Make Time for Yourself

you are important

It’s important in our busy days to make a bit of time available for yourself. Sometimes an undisturbed 15 minutes can go a long way to helping to find some peace in a stressful day. Big Hug! Get Out of Debt Guy – Twitter, G+, Facebook Read More »

American Debt Mediators Scares Woman

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“Dear Steve, She has been scammed, and it is affecting her health. I sometimes wish I hadn’t said anything to her. Please advise me how to help her. I have worked in small claims court and have a feel for the process. But I told her this was a scam and now she is scared to death. I need to ... Read More »

Details on CFPB Lawsuit Against Morgan Drexen

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Yesterday I mentioned the Consumer Financial Protection Bureau filed suit against Morgan Drexen. As I mentioned, I said I would take more time today and wander through the complaint filed and share more about the allegations. If there was no doubt in the mind of any debt relief industry executive if the CFPB was set to regulate the industry, the ... Read More »

Today I Will Be Happier Than a Bird With a French Fry

happier

Big Hug! Get Out of Debt Guy – Twitter, G+, Facebook Read More »

Saving Easy Money As a College Student

cheap

Heading off to college for the first time or just another semester is a prime time to either unload your wallet or engage in some deep debt acquisition. But before you just spend, spend, spend there are some really simple and easy money saving tips that case ease the pain up to 35%. It can take you a few minutes ... Read More »

Morgan Drexen Sued by CFPB. Take That!

cfpb

Recently the debt settlement company Morgan Drexen sued the Consumer Financial Protection Bureau, CFPB, hoping they would be declared unconstitutional and disbanded. For more, see this and this. Today the CFPB turned around and unloaded their long-term investigation into Morgan Drexen and filed suit against them. I’ll review the entire lawsuit tomorrow but for now, here is what the CFPB ... Read More »

I’m Smarter Than My Student Loan Debt. – Gail

Mature woman confused

“Dear Steve, I am a fifty-year-old teacher with a doctorate who has taught a total of 20 years. All of my education had been paid for in full by me (including the doctorate) until I decided I wanted to get out of the classroom and go into another field. I later earned 1 1/2 additional masters degrees that I funded ... Read More »

Student Loan Debt Robs Many of Retirement

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A new report out by the public policy organization Demos, confirms what I’ve feared for too long. Student loan debt robs people of retirement wealth. The growing burden of student loan debt and the limited options to manage that debt are leading to more and more people becoming so caught up in financial slavery that their very ability to properly ... Read More »

I Can’t Get Married Because My Partner is Sinking in Law School Debt

stressed-woman

Dear Steve, Hello and thank you for your time and generosity. My partner of 12 years is drowning in debt, all defaulted school loans. Partner because we have decided not to get married due to his debt as I wish to keep our finances, identities, etc. separate due to his incredible debt burden. He is an attorney (graduated 6 years ... Read More »

Thom Fox Interviews Steve About Debt Relief Options

a manatee

Thom Fox co-hosts a radio show “The Engine” and spent some time talking to me recently about the debt relief world today and what good options are available for consumers. It was a great interview since Thom knows the credit counseling world like a Boss! He used to work for Cambridge Credit Counseling but has moved out on his own ... Read More »

People Still Falling for Land Trust Mortgage Rescue Scam

oops

The one thing you have to admit about a scam is once it works and extracts money from consumers, it’s got some legs and has morphed and continued on longer than I expected it to. As part of the continued slow descent into the black pit of “Why?” more information is coming out about how unhappy people are with the ... Read More »

Consumer Advocacy Assistance Mortgage Modification Mailer – Watch Out

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A group, Consumer Advocacy Assistance, who reports to being located in Laguna Hills, California sent a mortgage modification mailer to a consumer in New Jersey. The mailer appears to be an official mailer from the Loss Mitigation Administrative Office. Frankly it looks like the standard B.S. mortgage modification mailer many have received. An amazing reader Hanna sent in a new ... Read More »

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