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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.

Stop Debt Collectors – 100 Pages of Good Advice

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I didn’t tell Gerri Detweiler that I was going to purchase her book and secretly read it. I knew she would have sent me a free copy if I had asked but I didn’t want our friendship to cloud my review of her new book “Stop Debt Collectors: How to Protect Your Rights and Resolve Your Debts”. The book can ... Read More »

Valerie And Her Vanishing American Express Card Business Account

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“Dear Steve, I had an American Express business account. I ran it up to $2000 when my husband was in the hospital for 4 months and couldn’t pay it all at once. I finally paid it off in about 2-3 months. When I paid it off completely, they cancelled my card. They said the reason was that my “other” credit ... Read More »

Listen to the Story of Dan and Mary

I found this radio show online about Dan and Mary who found themselves under pressure about money, managing their money, and even went to a Dave Ramsey seminar but that did not fix things. Finally Dan and Mary decided that they had to split. I think what resonated with me is that the issues that Dan and Mary discuss are ... Read More »

Jerry Wants to Know How to Repay Debts He Can’t Afford

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“Dear Steve, I have a time deposit at the bank and borrowed 80% of it using the deposit as collateral. I already skipped 3 payments even for the interest alone. My car is also mortgaged at another lending firm and I already skipped 2 monthly payment for my amortization. I have a small business but the income I get is ... Read More »

James Wants to Know If Capital One Will Take His Car If He Stops Paying His Credit Card

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“Dear Steve, I can not pay my credit cards,because of sickness. I have a auto loan with Capital One and a credit card with them as well. If I just pay only my auto loan on time each month and stop paying on the credit card, can they touch my car because I pay one and not the other. James” ... Read More »

Government Handing Out Secret Bailout Money to Pay Off Credit Card Debts

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This information is for all the people who keep emailing me about the “secret Obama backed bailout plan for free government money to pay off credit card debts.” You win and I’ll tell all. I’m not sure who let this rumor out of the bag but if I find them I’d have a very stern talk with them. Maybe the ... Read More »

Jeff Asks About Trick To Boast Credit Score. “Will It Work?”

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“Dear Steve, I have never heard anyone ask this question or any money experts suggest it: If my wife and I have many joint user credit cards and lots of debt, could it help our credit scores if we changed the status of our joint cards to just the primary user, thus showing each of us is responsible for about ... Read More »

Citigroup to Say Goodbye to 39,500 More Workers

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Kerthunk! That’s the sound of the other shoe dropping on Citigroup. I thought I was ahead of the game when just last week I wrote Citibank to Fire 10,000 Workers And Raise Your Interest Rates. Well at least I got the raise your rates part right. Seems I was off by about 38,000 more Citigroup and Citibank employees that won’t ... Read More »

More Bad News For Nordstrom and Target Credit Cards

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Store cards in good times are a good source of profit with their exceptionally high interest rates but in down times they can be an anchor around profits. Not only are store cards generally easier to acquire by people with lesser credit but they are often the first to go unpaid when there isn’t enough money to spread around. Target ... Read More »

Government Help With Credit Card Debt

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A question I am getting asked more and more is about what programs the government offers to help you get out of debt or to eliminate credit card debt. These questions usually involve inquiries about government grants and loans that people hear whispers about that they believe will dispose of problem debt as well. Up until this point there has ... Read More »

Dayna Can’t Afford to Keep Her Car Or Get Rid Of Her Car, Even By Repossession

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Dayna “Dear Steve, I have an upside down auto loan that I owe about $27,000 on a Mazda car and my monthly payments are $500 per month for 7 years with about 12.45 percentage interest rate. I am unable to refinance my auto loan because my credit is not that good and I owe too much debt. I am trying ... Read More »

Federal Trade Commission Should Allow For-Profit Credit Counseling and Debt Settlement Firms to Assist All Consumers

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I understand that the Federal Trade Commission has been looking into regulating the debt settlement industry. I feel the time has come to finally address the needs of consumers for representation in credit counseling and debt settlement matters. I have provided a statement to the FTC in order to support the acceptance and regulation of for-profit credit counseling and debt ... Read More »

What Do You Do When The Town Is Laid Off? – Personal Finnance Bloggers Question of The Week

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This weeks personal finance brain trust question was a tough one that caused many of our bloggers to not contribute because there really isn’t a good answer to it. I knew it was going to be a tough one. DHL just announced massive layoffs that will cripple the town of Wilmington, Ohio and the surrounding area. What advice do you ... Read More »

Citibank to Fire 10,000 Workers And Raise Your Interest Rates

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Anonymous sources in Citibank are leaking that Citibank expects to cut another 10,000 jobs, bringing the total jobs slashed this year at Citibank to 33,000. In addition, Citibank is going to announce steep increases in the credit card interest rates and I’m sure we’ll also see higher credit card fees as well. The goal will be to place more “innocent” ... Read More »

Government Kills Debt Write Off And 40% Debt Elimination Plan

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All I’ve got to say is, Good! The plan would have done more damage than good and while some people might have hoped that the government would accept the creditor based plan, it was shallow and not enough to make a real difference to help people avoid bankruptcy and get out of debt. Recently I wrote an article, New Concerns ... Read More »

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