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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.

I’m Disabled, Filed Bankruptcy, But Still Owe on Student Loans

gears

“Dear Steve, I was hit by a drunk driver, suffering several acute compression fractures in my neck and back, ribs, discs, etc…and was wheel chair bound. Fortunately, I recovered well, and am more functional than any of treating physicians expected. I was attending the University of Davis, California at the time ( 1991 ) when accident happened. When I was ... Read More »

How is Sallie Mae Calculating My Interest?

data

“Dear Steve, Sallie Mae recently changed payment ‘firms’ that process automatic debit. I’ve noticed in my new online statements that it shows interest being charged from the 16th to the 15th of each month, even thou my payments are shown on the 10th. Like it’s totally there on the form with payment dates listed 5 days before interest accrued dates. ... Read More »

My Child Support Counts as Income Says the Bankruptcy Trustee

Divorce

“Dear Steve, I was divorced 6 years ago and did not received child support for 4 and 1/2 years and gave my ex $25,000 as part of the equity in my home. I accumulated credit card debt trying to maintain the lifestyle of my kids and take care of them. I filed chapter 13 14 months ago and my case ... Read More »

Can I Really Eliminate My Culinary School Student Loans in Bankruptcy?

chef

“Dear Steve, I have a private Sallie Mae student loan I took out back in 2007 to pay for a vocational education in culinary arts from a school called “Kitchen Academy” (I think they got bought out by Le Cordon Bleu and now they go by the latter name) The loan was originally for $16,000. I now owe $27,000 due ... Read More »

Women, Want to Make as Much as a Man?

college-class

A new study out comes to the conclusion if women want to explode the gender pay gap then they need to stop thinking about going to expensive colleges and universities. “For women who attended elite institutions, the gender pay gap persists, they found. But for women who study in the lucrative majors ["science, technology, mathematics and business"], the pay gap ... Read More »

A Million Consumers Victims of GE CareCredit. Refunds to Follow.

cfpb

The Consumer Financial Protection Bureau (CFPB) has taken action against GE Capital Retail Bank for allegedly taking advantage of consumers through their medical debt financing program. Today the Consumer Financial Protection Bureau is ordering GE Capital Retail Bank and its subsidiary, CareCredit, to refund up to $34.1 million to potentially more than 1 million consumers who were victims of deceptive ... Read More »

FHA to Make It Easier for People with Bad Credit to Get a Mortgage

Happy people celebrating with money raining

Very shortly new manual underwriting regulations from FHA will become effective and make it easier for people with low credit scores to qualify for a mortgage. This is good news for people without a lot of debt but a low credit score. Under the new rules the following changes will be made. First, HUD has taken the opportunity to address ... Read More »

Consumer Asks World Law Debt for Three Times Her Money Back

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A television station in Colorado is reporting that a Colorado women was unsatisfied by the services provided by World Law Debt and filed a complaint with the state asking for three times her money back for the debt settlement company as she is allegedly entitle to under Colorado law. CBS 4 out of Denver put out the following information. “She ... Read More »

Meracord, Noteworld, and Fidelity and Deposit Company Hit With Class Action

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While the flood of lawsuits against debt settlement companies has slowed considerably yet one more class action has been added against Meracord, Noteworld, and Fidelity and Deposit Company of Maryland. This time in Arizona. The complaint provides a very long description of the alleged actions and conspiracy between the debt settlement escrow company and the companies they elected to work ... Read More »

I’m Going to File Bankruptcy. Do I Just List My Student Loans? – Jayna

Travelers Reflection

“Dear Steve, I am claiming bankruptcy and have been unable to secure steady employment since graduation. How would I file my papers to request the discharge of my student loans. Some are private through Well Fargo with a co-signer and some are student loans starting in 2002. The total amount is around $60,000 Jayna” Don’t miss our free Get Out ... Read More »

I Filed Bankruptcy and Listed My Student Loan Debt. – Kevin

Winter Latice and Pergola

“Dear Steve, I had my bankruptcy discharged in April, 2013. I just read your article on discharging student loans, and did not see the school on the list that I attended, I have a loan from sallie mae that is currently with a collection agency. Is there a amendment or special request I can file to see if I can ... Read More »

I Saw a Commercial for Student Loan Debt Help. Are They Legit? – Katie

asian dragon

“Dear Steve, I saw a commercial with a website claiming to help with student loan debt. They listen a website and a phone number. The website was www.studentloansupport.us. Once I filled out a small questionnaire I was notified by phone from the company. A guy named Travis asked for some background info such as Name, where I work, if I ... Read More »

Town & Country Acceptance Corporation Debt Management Mailer

town and country acceptance back

Town & Country Acceptance Corporation recently sent out the following postcard to residents in Ohio. Town & Country Acceptance Corporation describes themselves as a debt management company. – Source An amazing reader sent in a new debt relief mailer through my I Buy Junk Mail program. Get Out of Debt Guy – Twitter, G+, Facebook This offer was able to ... Read More »

If a Parent PLUS Loan Borrower Dies Will the Child Have to Pay it Back? – Cathey

Cemetery Caution

“Dear Steve, Young lady’s mom had taken out a parent plus loan, the Mom passed. Does the loan automatically become the debt of the student? The student is of course now being told to pay it. I thought since the parent took it out, the debt died when she died. Is there any help in this situation? What happens with ... Read More »

I Died Last Year. Should I Go Bankrupt? – Gary

Wrecked and Abandoned

“Dear Steve, I am broke had a heart attack last year and died for 4 to 6 minutes. I borrowed 55,000 from the bank for a business which is not about anymore. My wife did not sign on the loan at the bank either. She has a business now and helps me live by giving me a 50.00 per week ... Read More »

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