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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.

CFPB Suit Against Debt Relief Company Should Make Industry Very Afraid

Boom goes the dynamite.

Yesterday the Consumer Financial Protection Bureau filed suit against American Debt Settlement Solutions, Inc. and Michael DiPanni. If you are in the debt relief industry you need to become painfully familiar with this suit because it will make you soil your pants. For the first time the CFPB has laid out its hand on what they feel is an abusive ... Read More »

Can Bank of America Really Give My Mortgage to the Blood Suckers at Green Tree? – Mike

Cosplayers at San Diego Comic Con 2009

“Dear Steve, I applied for a loan modification with Bank of America that took almost a year to finally finish. They did not do very much but extend my 30 yr mortgage to 40 years at 5% and quite frankly did not bring my payment down by much. PLus even with a “Quick Deed” signed and divorce papers B of ... Read More »

My Private Student Loans Have Been Bought and Sold So Many Times. – Alex

radar

“Dear Steve, I make 15 hr and I have about $150,000 in private student loans and $50,000 in Federal loans. My federal loan payment right now is $32 a month which doesn’t cover the interest but it’s really all I can pay now. I have defaulted on all the private loans since they offered me no reasonable solution or payment ... Read More »

Will American Express Settle With Legal Helpers Debt Resolution? – Dave

boxer

“Dear Steve, Signed up almost 3 yrs ago with Legal Helpers Debt Resolution. Almost at the end of 3 yr contract. Started with 5 CC accounts. Now only 2 left. LHDR negotiated 3 (2 to go). I still have 2 CC debts to settle. One is for 13K (they have not been agressive and have not taken any legal steps ... Read More »

Why Did Check ‘n Go Lend Me So Much Money? – Christian

gears

“Dear Steve, I borrowed $2500 from check n’ go as an unsecured installment loan in Ohio. I have to pay back $370 every two weeks for 6 months. My gross income is $1400. First question is, how the heck did they loan me that amount based on my meager income? Can I get out of it somehow because they knew ... Read More »

Advanced Professional Network Has Left Me With a Bad Feeling. – Anna

Screen Shot 2013-05-30 at 1.05.50 PM

“Dear Steve, I am delinquent in my mortgage and am having trouble making payments. I have signed up with a company called Advanced Professional Network who have put me in a loan modification dropping my mortgage payment about $400. I was so relieved that someone was helping….but now I’m second guessing and have a bad feeling about this company. The ... Read More »

I Don’t Want to Ruin My Credit for 10 Years and File Bankruptcy. – Mary

Decision time

“Dear Steve, 40K in cc debt…been in collections for at least a year with a recent summons from Discover. Have been unemployed off and on, trying to find full time work for approx. 6 yrs and just landed a ft job at $14/hour. Working per diem jobs as well. Really don’t want to do BK..I like my bank and the ... Read More »

I Had Cancer, Lost My Job and Filed Bankruptcy. I’m Sinking Again. – Deborah

adding up

“Dear Steve, Around 2000 I tried a debt consolidation company years ago and they took my money. So I had to file bankruptcy. Well I got Cancer. Then I lost my job in 2009 and did not find another for over 2 years. I have had to use a lot of credit cards for medical and to live on. I ... Read More »

The Saddest Avoidable Mistake People Make When Getting Out of Debt

Every day wasted is money wasted. Make the tough choices young so you don't wind up broke, old, sick, and counting pennies.

It is painful for me to watch people make the same ignorant and stupid mistake time and time again when getting out of debt. And what is the number on mistake that screws up their financial future in an effort to repair their financial past? Keep reading to find out. People make all sorts of emotional decisions when faced with ... Read More »

I Really Don’t Want to File for Bankruptcy. – Marsha

SONY DSC

“Dear Steve, I was out of work for three years, and during that time I defaulted on all my bill payments. I want to be debt free, but I dont know where to start, because I just can’t afford to pay all that money, even if they all set me up on a payment plan. How can I approach this ... Read More »

I Bought a Car With Bad Credit. Should I Refinance? – Joylynn

casual woman saving money

“Dear Steve, I bought a newer car in 2011. I am paying 8.61% because of past credit card problems. I couldn’t get a co signer so I just went with it. Now I have paid (on time 100%) on it for two years. I am now starting a good job and I want to refinance to get a lower interest ... Read More »

Are Any of These Companies Legit for Me to Work With to Eliminate My Debt? – Bonnie

everything at once

“Dear Steve, I have several payday loans and four credit cards. have been talking to AmOne, ScoreSense, Pay Day Loan Debt Assistance, and Consolidated Credit Counseling Services. The constant phone calls from all of them are driving me crazy. I can’t decide whether any of them are legit and will be able to help me or if I should just ... Read More »

We Are Going Through Bankruptcy to Get Back to Saving. – Jim

traffic

“Dear Steve, We have been through the ringer, especially the past couple of years and have resolved to go through bankruptcy so that we can get back from minimum monthly payments to saving. My question is, what is the best way to handle car leases in bankruptcy. We have 2 leases and after looking at our budget without emotions getting ... Read More »

My Son Has HIV and My Husband Fled the Country. My Debts Scare Me. – Suzanne

going to be amazing

“Dear Steve, I am a 63 year old woman with a 27 year old son that is not in the best of health, due to his HIV positive status. My husband fled to Canada, after an arrest for domestic violence. I am now locked into an interest only mortgage, and even if I did pay a little more each month, ... Read More »

I Was Approved for a Debt Consolidation Loan. What Now? – Ricardo

You want your pilot to use a checklist so they don't miss anything important, don't you?

“Dear Steve, Thank you so much for a great site of information! I just contacted LendingClub.com and was approved for a little under $30k. I was looking for the full amount of $35k, but no need to get greedy, right? LoL very thankful for what was offered. My question involves what exactly to pay off. 5 credit cards totalling just ... Read More »

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