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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.

Debt and the Theory of Dissaving. Why You Need to Take Action.

dissaving1

Being in debt causes us to become paralyzed with uncertainty and that leads to inaction. I want to talk about why if you wait too long to take actin it can be a very expensive mistake. And while I did previously write Get Out of Debt Fast, But Don’t Run, you should not just stand still as well. When people ... Read More »

I Am an Unemployed School Principal, Drowning in Debt and Getting Divorced. – Jennifer

Woman in home office with computer and paperwork frowning

“Dear Steve, I will soon file a joint bankruptcy with my husband and then get divorced. I owe $170K on my foreclosed house and $154K on students loans. I was a principal and my school closed in 2011. I have gone through unemployment and now live on child support ($570/month) and food stamps. After 15 year of experience, I am ... Read More »

Private Student Loan Lender Wants to Garnish My Wages. – Adriana

young woman protects little girl from wind in garden

“Dear Steve, Defaulted loans on private college I have been getting emails and calls saying that my loans have defaulted and my wages and taxes are at risk to be garnished, I had to withdraw from school due to financial problems as they required an unpaid externship to graduate and I simply could not afford to work 1 month for ... Read More »

How Not to Get Scammed by a Mortgage Loan Modification Company

scammer

It’s easy to make you a victim and rip you off with a loan modification. People are willing to believe the wild claims companies make about being able to cut your loan balance or slice your interest rate. It sounds so good when the salespeople are pitching you. If you received a postcard or letter in the mail claiming you ... Read More »

Zoosk.com Online Dating Site Took My Money and Won’t Give It Back. – Bill

woman on computer

“Dear Steve, I fell for subscribing to Zoosk, despite what I felt were unusually high charges. One day later, after being sent some “Profiles,” I decided to cancel. They will let you cancel and not get their emails and FB messages, but you are bound to pay the entire amount. In this case about $99.00. Is Isn’t there a three-day ... Read More »

Granite Law Wants to Charge Me to Modify My Mortgage. – John

Searching-right

“Dear Steve, I have a fixed rate mortgage at 6.8% on my home I live in. The amount owed is more than the value. $380K vs. $300?K. A radio ad here in the Chicago market recently stated a company could assist home owners who were under water to get a lower payment. Mine is currently sitting at $3100 including T&I. ... Read More »

My Credit Union Sent me a 1099-C for Two Different Amounts. – Sabra

IRS

“Dear Steve, Credit Union charged off the amount of $2369 for a gap insurance loan that had a balance of $1639 but reported to IRS a charge off of $2574. IRS is going after me for not claiming it as income. How can they have 2 different charge offs and get away with it? Sabra” Don’t miss our free Get ... Read More »

Farmers National Bank Took Our Truck. – Crystal

tow truck repo

“Dear Steve, We received a letter from our bank stating that we are late in making our payments we were three months behind the letter stated that if we paid the amount due of $1319.63 by the last day for payment which was 11-08-2012 that we may continue with the contract as though were not late The bank sent a ... Read More »

I Got a Mailer From The Remedy Group Asking Me to Fax My Bank Statement. – Mikki

scammer

“Dear Steve, I received a mailer containing my name, my address, my last year mortgage amount, my mortgage servicer, an eligibility code and a toll free number of 800-859-8641 and a promise of loan modification to reduce my interest rate. When I responded to the number, I was told that they were The Remedy Group, composed of attys and investors ... Read More »

My Car Was Repossessed But They Never Gave Me My Stuff or License Plate. – Jane

tow truck

“Dear Steve, My automobile was repossessed in Massachusetts on 12/20/12, in the wee hours of the morning from the parking lot at my apartment complex. The loan was in default, so that’s not the issue. Once the car was repossessed, I never rec’d a Post-Possession Notice or, in fact, did I have any communication from either the lender or the ... Read More »

KEL Attorneys and Ample Legal Service Target Senior Citizens for Debt Settlement Services

surprise

In what I first though was an early April Fools joke, KEL Attorneys out of Florida has sent out a press release that targets senior citizens for debt settlement services. Could this be the same KEL Attorneys that got booted out of the BBB in 2011? The press release, issued on March 14, 2013, said: “It is extremely important for ... Read More »

I’d Like to Buy a House But I Can’t Get Approved Because of Delinquent Student Loans. – Hope

yard

“Dear Steve, I have had many delinquencies concerning student loans in the past. At one point in time I thought I was in deferment but obviously I was incorrect. So I show substantial deliquencies in 2006. I actually finished school in 2008 and loans were deferred until 6 months after I graduated. I started paying payments on regular monthly basis ... Read More »

Sick Daughter Led to Debt. How Can I Get Out of Debt and Not Hurt My Security Clearance? – Mike

top secret

“Dear Steve, My wife and I have about $65,000 in credit card debt. It started when our daughter was born 12 years ago with a severe rare medical condition. In order to stay up on medical bills, mortgage, utilities we resorted to credit cards to offset our income. Over the years this added up on us. We are not late ... Read More »

Should We Sell the Jeep and Lease the Mercedes Benz? – Evon

A 2011 Mercedes ML 350.

“Dear Steve, Have a upside down car sitting in my garage and cannot decide which way is best to get rid of it? I have a ML 350 that I am leasing for $674 per month. My lease is up 3/15. My husband has a Jeep Wrangler that we pay $405 per month. He owes $21,000 on it. He had ... Read More »

Single Mom of Three. No Child Support But Student Loans. – Lisa

Student Loan Corkboard Concept

“Dear Steve, I am a single mom of 3 with some college, am getting no child support, and several years ago made it three quarters through lpn school only to get booted out because I wasn’t fast enough in clinicals. I have a mountain of student loans. To top it off I work at Arby’s as a prep person. Is ... Read More »

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