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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.

Beware Of Zombie Debt Collectors

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Beware Of Zombie Debt Collectors Forbes, NY - 15 minutes ago Read "Debt Consolidation Made Easy" to learn five steps to help you get out of debt faster.) The statute of limitations on debts varies by state, ... Read More »

Using Porn And Sex to Help You Get Out of Debt

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At first I had ignored the new film Zack & Miri Make a Porno but once I found it the premise of the movie was that they had run out of money and were struggling to get out of debt, I had to go see it. Here is the review that really made me curious to see it. Smith returns ... Read More »

Banks Agree to Wipe Out Up to 40 Percent of Credit Card Debt But Watch Out.

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Credit card lenders include Discover Financial Services LLC, Bank of America Corp., Citigroup Inc., JPMorgan Chase & Co., Capital One Financial Corp., American Express Co. and HSBC Holdings have finally come together with the help of the National Foundation for Credit Counseling, Consumer Federation of America and the Financial Service Roundtable to start the process of creating a debt solution, ... Read More »

Debt is Number-One Problem for People in Wales

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Debt is number-one problem for people in Wales WalesOnline, United Kingdom - 43 minutes ago And while credit card debt enquiries across England and Wales as a whole have dropped by 4% in the past year, within Wales alone the CAB has seen requests ... Read More »

Family Finances: When you’re desperate, look out for fraud

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At a recent home show, we were grabbed by a debt settlement company salesperson who offered to save us at least 40 percent in our effort to get out of debt -- not that we have any. Another salesperson hawked a software program that would direct us ... Read More »

Archeologists Finds 3,000-Year Old Credit Card Bill

Earliest Known Credit Card Statement

An Israeli archeologist has discovered what he says is the earliest-known Hebrew text, found on a shard of pottery that dates to the time of King David from the Old Testament, about 3,000 years ago. Carbon dating of the ostracon (meaning “statement”), along with pottery analysis, dates the inscription to time of King David, about a millennium earlier than the ... Read More »

Redefining the American Dream

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Redefining the American Dream Washington Times, DC - 17 minutes ago And credit card defaults look like the next shoe to drop as cash-strapped Americans have run up credit card debt to postpone the day of reckoning. ... Read More »

Your Credit Card Company Is Waking Up After A Bender

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Have you ever raised your hurting head the morning after the night before after a little to much fun and alcohol? You know, when you’ve got a bad hangover and possibly regret some of what happened the night before. It’s much the same thing that is going on at credit card companies right now. Now that the economy looks like ... Read More »

Bankruptcy Rates To Significantly Increase Next Spring From Ho-Ho-Ho Hangover

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I just did an interview with the Christian Science Monitor and we were talking about holiday shopping. The question was if I thought people were going to significantly cut back on holiday shopping to live within their budgets. Sadly, I don’t think they will. Gift giving and shopping at this time of year are ingrained in our consumer DNA. While ... Read More »

American’s Stranded in the Netherlands Because of Debt to Texas Bank

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The 64-year-old ship captain and his crew, whose vessel has been stranded in the Netherlands for months due to a financial obligation gone awry between his employer and a local bank. It all started July 25 when a tugboat, the Alois, based in Orange, Texas, had been towing ship hulls from Romania, said Salem, who was days from retirement. Everything ... Read More »

Therapist: Financial Infidelity Can End Couples

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Therapist: Financial Infidelity Can End Couples Fox5 KVVU, NV - 41 minutes ago It can be anything from keeping credit card debt a secret to hiding money from a spouse. "I'd say finances and financial stress is one of the number one ... Read More »

Do I Tell My Creditors I Am Going Bankrupt?

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A question I am often asked is if people need to tell their creditors that they are going bankrupt. If you’ve already decided to go bankrupt and you’ve met with a bankruptcy attorney who will handle your case, then there is no harm in telling them, but why? Once you have made the decision to go bankrupt you can direct ... Read More »

American Express to Cut 7,000 Jobs. Experience The Freedom Of Joblessness.

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As part of a reengineering plan, American Express plans to cut some 7,000 jobs, or about 10% of its work force, the company said Thursday morning. The company will cut staffing levels, reduce compensation, lower operating costs, and scale back its investment spending. "We've been engaged for the past few months in an intensive, companywide review of priorities and staffing levels," said Kenneth Read More »

Lawyers Lose Licenses Over Debt Relief. Dangerous Waters For All.

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This has been a growing story over 2008 but I think it is a good example of the perils that consumers face when trying to get out of debt. We already have been ingrained to not trust credit counselors by the flurry of activity as the IRS targeted credit counselors a few years ago. But now lawyers acting on behalf ... Read More »

Consumer spending accounts for two-thirds of US economy

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Consumer spending accounts for two-thirds of US economy Minnesota Public Radio, MN - 49 minutes ago It's now at its highest point in decades at nearly 71 percent and, perhaps not surprisingly, credit card debt has climbed along with it. ... Read More »

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