Author Archives: Steve Rhode
- Judgment to be Secured With Cash or Bond in Lloyd Ward Kansas Default Judgment Case
A tipster wrote to me and directed me to a previous case that was filed against Lloyd Ward in Texas as a foreign judgment. Apparently the court in Texas has just ruled that Lloyd Ward, Lloyd Ward PC, Lloyd Ward & Associates and Lloyd Ward Group must deposit $119,000 in cash or bond “which is [...]
- CFPB Appears to Lay Ground Rules to Begin Enforcement in Debt Relief Industry
In a predatory move, the Consumer Financial Protection Bureau (CFPB) has issued a public request for comment over rules that could be used to regulate debt relief industry companies, both for-profit and not-for-profit. The document, “Procedural Rules to Establish Supervisory Authority over Certain Nonbank Covered Persons Based on Risk Determination” has been put out for [...]
- Bank of America to Credit Counseling Agencies – It’s Not Me, It’s You
A tipster recently emailed me saying that the inside scoop is that Bank of America is going to start working with fewer credit counseling agencies, or at least stop accepting DMP proposals. Bank of America has been some interesting things recently. Most intriguing is their selected 75%-50 month repayment plan they are offering at 0% [...]
- Lloyd Ward Sued by State Bar of Texas – Commission for Lawyer Discipline
Texas attorney Lloyd Ward, as part of Lloyd Ward & Associates, has beed sued by the State Bar of Texas, Commission for Lawyer Discipline over his alleged actions concerning debt settlement activities related to Debt RX USA and Silverleaf Debt Solutions. The complaint, filed on May 23, 2012, alleges that in “June 2008, Michael Miles [...]
- Connecticut Goes After More Debt Relief Companies
New administrative actions have just been made public against more debt relief companies. Connecticut does not mess around. The new entires made public include: Alliance Mitigation Group The company did not respond to administrative notices sent by the Consumer Credit Division of the Department of Banking. The company was hit with $11,795 in fines and [...]
- Is DebtConsolidation.com Smoking Dope?
A company called DebtConsolidation.com just put out a press release making some rather odd statements. They claim they are “a leading information and referral source for debt management and credit counseling” but seem to be instead providing misinformation instead. The reader who sent this to me was most upset by the statement they make, “”There [...]
- Can I Include a Title Loan in Bankruptcy?
“Dear Steve, I have some debt…. have not been employeed in nearly two years, but I am sure that I will be soon . In the meantime, I do have some debt and since Ive not been employeed & no one has hired me – I need to file a BK. I have a title [...]
- I’m Distraught, Depressed, and Anxious About My Debt. – Janine
“Dear Steve, I’m a 42 year old professional, recently divorced. I took all the debt, left him all the assets, i.e. collateral, for a 401k distribution as settlement, which I’ve basically been triple taxed on and came out still far down in the hole. Then I got laid off and have been in the process [...]
- I Have to Start Paying on My Student Loans I Can’t Afford. – Jessica
“Dear Steve, In 2010-2011 I attended a private graduate school in Chicago and racked up 70,000 in student loans (including current interest). After the first year I realized that the program was not as reputable as I previously thought and I removed myself from the program due to the fear of going into 250,000.00 in [...]
- AVOID – Proposed Litigation Notification – Investigation Advertisement Mailer
A hero reader has sent in a new mailer that is promoting legal action against New Century Mortgage. It appears to be a mailer that could be used generically against other lenders as well. The reader said, “On Saturday I received via postal mail what appears to be (attached) the latest iteration of a mass [...]
- Life After Bankruptcy – The Truth
Here is what you need to know right off the bat, there is absolutely life after bankruptcy. Ironically for many their financial lives turn out to be better and stronger than before. Almost all the negative preconceived notions you may have about bankruptcy are generally incorrect. That surprises most people. Let’s look at some of [...]
- Freedom Debt Relief Sues Century Negotiations, Inc. My How Times Change.
For those that have been involved in the debt world for a number of years the names Freedom Debt Relief (FDR) and Century Negotiations, Inc. (CNI) were linked together through thick and thin under the trade group TASC, (The Association of Settlement Companies). In fact the honcho over at CNI, Dave Leuthold, was even the [...]
- I Can’t Go Home Because of the Job Market? – Louise
“Hi Guy , you have no idea how lucky we are to have you help everyone in dire situations . I live in dubai I can not got back home at the moment beacuse of the job market back home . I had lost my job in Dunai in 2009 and suffered for one year [...]
- How Can We Refinance Our Mortgage While I’m Unemployed? – Nicole
“Dear Steve, Unfortunatly as I found out the HOPE program and all other programs will not modify your loan if you are currently on Unemployment benefits. What are options for people who are unemployed. I am working but my husband was laid off over 2 years ago. I have tried to modify my mortgage thru [...]
- I’m Being Sued for Private Student Loans After the Staute of Limitations
“Dear Steve, I has several private student loans taken out in 2004-2005. I am being sued by collection agency representing the lender. The ny statute limitations is 6 years. They allege I admitted the debt on phone. I recently received a letter from collection agency to call them so we can work on a payment [...]