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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.

The Most Unique Debt Relief Help Wanted Ad Ever

family portrait

The debt relief industry never ceases to amaze me. A big hat tip goes to Damon Day for pointing out this help wanted advertisement to me. This one is certainly unique. Here is a debt relief company that starts off by calling all the other schemes we’ve lived through, scams. “TIRED OF SCAMS YET? Help Families &Make $$$ Student Loan ... Read More »

Will Our Second Mortgage Vanish After Our Chapter 13 Bankruptcy? – Lisa

Mature woman confused

“Dear Steve, My husband and I filed a CH13 in efforts to save our home. 2nd mortgage was stripped and court. 4 months into bankruptcy, trustee felt we could pay 100% of debt which we would be paying a lot more than what we were originally paying overall. We pulled out of BK and got a modification for our home. ... Read More »

Stop Gambling With Your Debt. Get Health Insurance.

risk

People who don’t like to gamble and think it is stupid, gamble every single day with the biggest debt they may ever owe. But then again people are not the most logical creatures. Some would no more consider wasting money on lottery tickets because the odds of winning are so low but they gamble by not having health insurance because ... Read More »

How Can I Live and Repay My Student Loan Debt? – Ben

Desperate

“Dear Steve, I’ve been reading through your blog articles for a few nights now. Yet, I find myself falling outside the range of your advice so far. If you have to time, I would love to pick your brain about my debt situation. CreditKarma notes I have $123,000 in student loan debt, with a credit score of 590. I have ... Read More »

2013 Nationwide Debt Reduction Plan Mailer is for Debt and Student Loans

debt reduction mailer

As part of my I Buy Junk Mail program I received the following mailer that appears to be for an advanced fee debt settlement program called the 2013 Nationwide Debt Reduction Plan. The outside of the mailer looks like an official self mailer and has the familiar postal permit 1297 from Sacramento, California. The inside of the mailer appears to ... Read More »

Can I ConsolidateAll My Student Loans Into a Federal Consolidation Loan? – Jules

Debtstar

“Dear Steve, I am at the very end of the grace period since I graduated, and will owe a total of $47,000 in student loans (all are government ED loans both Direct and Stafford unsubsidized and subsidized). The Direct loans are being serviced by Great Lakes, and until I call them I don’t know what the payment(s). The Stafford loans ... Read More »

Student Loan Assistance Center Marketing Mailer – I Buy Junk Mail

Student Loan Assistance Center

Susan sent in the following mailer to me from a generic sounding company, Student Loan Assistance Center. She also noticed the letter had the same Judy Pratt signature as other debt relief mailers have. The last one I covered was from the Debt Reduction Department. Click here. For those who may not know, I Buy Junk Mail so be sure ... Read More »

You Can Find Happiness Even Being in Debt

Be grateful for the simple and small things in life.

Being in debt seems to have no limit on the amount of sad things that can happen or be felt. But what is most unfortunate is to watch people stuck in depression and hopelessness which only serves to drag them down even more. Problem debt is most unfortunate, that’s a fact. But it does not have to control or run ... Read More »

Canada Pushes Back on Debt Settlement With New Regulations

canada

In Ontario a bill passed recently which significantly impacts the delivery of debt settlement services there. First, I owe a big hat tip to a good friend up there in the great white north for alerting me to this. This new bill impacts both debt settlement companies and credit counselors. Bill 55, the Stronger Protection for Ontario Consumers Act 2013, ... Read More »

I Went to LSU Shreveport in 1990 and Still Paying Student Loans. – Julie

student loan default

“Dear Steve, I took out a student loan in 1990 at LSU-S in shreveport, LA in order for me to finish my degree. I had left an abusive husband and had been a stay at home mom. I needed that amount for living expenses so I could graduate sooner in order to take care of my children financially. Twenty years ... Read More »

My Parents Cosigned for My Private Student Loans I Can’t Afford. – Sarah

stressed-woman

“Dear Steve, Graduated in 2012 with a Bachelors degree in Fine Arts (sculpture). Have about $70k in private loan debt. Went into forbearance, still did not find an alternative in that time. Have looked into and applied for consolidation WITHOUT cosigners, denied. I am curious as to whether or not there are other options available. My payments are over $700/month, ... Read More »

Two More Settle with FTC over I Works

ftc

Two key players in the I Works scheme that allegedly took more than $275 million from consumers via deceptive “trial” memberships for bogus government-grant and money-making schemes have agreed to settle Federal Trade Commission charges that they violated federal law. Bryce Payne and Kevin Pilon, along with Jeremy Johnson and seven others, were named in a complaint the FTC filed ... Read More »

Fidelity Land Trust, Ed Cherry Issue Getting More Bizarre

oops

Today a tipster (send in your tips here) sent in the following documents in the case of the State of Florida against Ed Cherry and the Fidelity Land Trust “debacle.” – Source Apparently Cherry’s attorney is trying to back the hell out representation and Cherry is having none of that. According to Cherry’s filed objection he claims attorney Peter Snyder ... Read More »

First Debt Settlement Plan Approved in Ireland Today

Screen Shot 2013-11-25 at 12.31.41 PM

It feels like a lifetime ago I first began working to bring debt settlement to the Republic of Ireland. Northern Ireland already has a form of debt settlement known at the Individual Voluntary Arrangement (IVA). Not only did ROI not have any chance of a formal debt settlement approach to dealing with creditors, but there was also no real consumer ... Read More »

CFPB Takes Student Loan Problems Seriously

Student Loan Corkboard Concept

Rohit Chopra is not only the Assistant Director for the Consumer Financial Protection Bureau but also the Student Loan Ombudsman there. As an example of how slow government can work at times is the slow pace of solutions for people facing private student loan debt. Currently options are limited and without any long term payment reduction solutions like those available ... Read More »

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