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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.

Engaged But Afraid Because of My Debt

Sleepless woman

“Dear Steve, I have about $120,000 in student loans, and about $3000 credit card debt. I am unemployed but looking, and I am engaged! My fiancé has told me that between his salary and gifts from our parents we have a $40-$50 thousand dollar budget for our wedding. He also just closed on a house a few months ago and ... Read More »

Nasty Niece Leaves Aunt Hanging on Sallie Mae Student Loans

Women fighting

“Dear Steve, My wife cosigned on several Sallie Mae loans for her niece. Her neice stopped repaying her loans several years ago and my wife has been paying the interest only since then, which Sallie Mae approved per a phone conversation. They never sent a paper confirmation of the agreement, now they claim she should start paying off principal. When ... Read More »

Mortgage Relief Scams Pay Millions to FTC

ftc

The South Florida-based defendants in an alleged mortgage relief scam will surrender their assets and be banned permanently from providing mortgage relief and debt relief services to consumers under a settlement with the Federal Trade Commission. This settlement represents the FTC’s largest judgment to date against a purported mortgage assistance relief provider. In 2012, as part of the Distressed Homeowner ... Read More »

Edward Cherry Changes Name to Edward Gregory Steadman

oops

A tipster (send in your tips here) sent in a tip that Edward Cherry legally changed his name in 2013 from Edward Cherry to Edward Gregory Steadman. Apparently this happened when he applied for the name change in May of 2013 but it was not finalized until July 2013. Normally a name change would be a huge non-news event but ... Read More »

West Virginia Sues Legal Helpers Debt Resolution

law books

West Virginia Attorney General Patrick Morrisey announced today that his Office recently filed suit in Kanawha County Circuit Court seeking to prohibit Legal Helpers Debt Resolution LLC from doing any further business in the state. Talk about late to the party. In his complaint, Attorney General Morrisey alleges Legal Helpers Debt Resolution LLC, a Nevada company based in Chicago, violated ... Read More »

Consumer Relief Programs / Consumer Advocacy Assistance Nastygram

Screen Shot 2013-12-30 at 2.01.15 PM

The state of Connecticut has issued an order to make restitution and cease and desist order to California based Consumer Relief Programs / Consumer Advocacy Assistance programs. According to the State “the company is a California corporation with offices at 14252 Culver Drive, Suite 352, Irvine, California, and 24881 Alicia Parkway, Suite #E516, Laguna Hills, California. On or about October ... Read More »

Can I Consolidate My Parent PLUS Student Loans to Lower the Payment?

broken piggybank with dollar notes

“Dear Steve, I have 3 daughters and have borrowed heavily using PLUS loans to finance their education. I see a lot of things available to students who have borrowed. Is there anything available to parents to reduce interest, extend the term, or reduce the monthly payments on the PLUS loans they obtained for their children’s education? Mark” Don’t miss our ... Read More »

My Co-Signer Went Bankrupt and NCO Financial is Collecting on My Student Loan

time and money

“Dear Steve, My private student loan defaulted because my co-signer filed for Chapter 13. It was in good standing as of 20 days ago and now it’s in collections with NCO Financial Systems overnight. Lender bounces me off to Collections. If I talk to them they have an assigned agent to my case who states that this is still in ... Read More »

I’m a Disabled Nurse But My Loan Are Not Discharged Yet

Student Loan Corkboard Concept

“Dear Steve, I went to nursing school in 1990-1993 and acquired a federal student loan. After working as a nurse for ten years and paying on this loan, I became totally and permanently disabled with “NMIL” (No medical Improvement Likely). I have not worked since 2002, my entire income is from Social Security Disability and has been since that time. ... Read More »

I Went to the Same School as Edward Snowden and it was a Fraud

snowden

“Dear Steve, Tech School was a fraud. I attended Computer Career Institute at Johns Hopkins in 2003. After reading the Edward Snowden attended the same ‘school’ and it was found to be a fraud, my blood ran cold. You suggested in a post I just finished reading that the victim file for bankruptcy. I paid my loan in full. How ... Read More »

American Express to Pay Millions for Illegal Credit Card Practices

punched-in-face

On Christmas Eve the Consumer Financial Protection Bureau (CFPB) ordered American Express to refund an estimated $59.5 million to more than 335,000 consumers for illegal credit card practices. These practices included unfair billing tactics and deceptive marketing with respect to credit card “add-on products” such as payment protection and credit monitoring. American Express will pay an additional $9.6 million in ... Read More »

CFPB Gives Borrowers With Troubled Mortgages a Guide

Real Estate Concept

The Consumer Financial Protection Bureau (CFPB) has issued a comprehensive guide to help troubled mortgage borrowers. The 104 page guide gives step-by-step directions on what you should expect from your mortgage company if you are struggling. You can read the guide here. The guide also clearly lays out the responsibilities of borrowers as well and is one of the more ... Read More »

Ferry & Nichols Said Barclay’s Bank Sued Me. – Amanda

Screen Shot 2013-12-18 at 10.49.12 AM

“Dear Steve, I just received a letter in the mail from Ferry & Nicholas, Inc., which reads almost identical to the letter from them posted on your website. They indicated Barclay’s Bank has filed a claim against me and the Sherrif will serve me soon. They also stated the creditor may attach my checking account. They provided me a case ... Read More »

Bill Would Make Employment Credit Checks Illegal

welcome

United States Senator Elizabeth Warren (D-Mass.) today introduced the Equal Employment for All Act with Senators Richard Blumenthal (D-Conn.), Sherrod Brown (D-Ohio), Patrick Leahy (D-Vt.), Edward J. Markey (D-Mass.), Jeanne Shaheen (D-N.H.), and Sheldon Whitehouse (D-R.I.). The legislation would prohibit employers from requiring potential employees to disclose their credit history as part of the job application process. It was previously ... Read More »

Auto Loans to Become Growing Problem in 2014

MOD-210957_2014AutoLoanForecastInfographic

TransUnion is out with their projections on the performance of auto loans for 2014. Their best guesstimate is the number of people 60 days or more behind is set to rise as more sub-prime borrowers are extended credit to buy increasingly expensive cars. “While we expect auto loan delinquencies to rise in 2014, they will remain well below levels observed ... Read More »

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