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I Co-Signed for My Daughters Student Loan and Now a Lawyer Has It. – Marie

help woman

“Dear Steve, I co-signed for a Parent Plus loan for my daughter a few years back. Roughly $45,000 now. She wasn’t able to keep up with the payments and didn’t really know how to handle the situation so now it’s in the hands of an attorney’s office. I don’t have $45,000 laying around that I can just pay it off, ... Read More »

My Girlfriend is in a Situation With Her Sallie Mae Student Loans. – Justin

caution

“Dear Steve, My girlfriend is in a bit of a situation. She went to school, took out about 40k worth of student loans, which are now with fees and interest at around $80k. Sallie Mae (through MRS) is offering to set up a payment plan to take the three loans to 0.001% and stretch the payments of ~$400 a month ... Read More »

I Defaulted on my Federal Student Loans and Now They’ve Doubled

Money and book

“Dear Steve, I wet to a tech school right out of high school and accrued 3100 in fed student loans. I defaulted after being denied financial hardship deferment. It has been 6 years, I am now back in school and looking to receive pel grant. The amount owed on my account is now 6300, double what I took out. I ... Read More »

Golden Financial Services and Paul Paquin Attack Get Out of Debt Guy Steve Rhode

questions narrow

A reader brought to my attention a post by Golden Financial Services titled Steve Rhode – Scam, Complaint, Illegal, Fraud or Applause. – Source It did make me laugh since some in the debt relief industry criticize me for my post title asking consumers for feedback on companies yet Paul elected to use a similar format. Nice touch. The post ... Read More »

FTC Settles Payment Processing Issues for Google Money Tree Scam

Screen Shot 2013-11-18 at 11.35.13 AM

The Federal Trade Commission is continuing its crackdown on payment processing operations that enable scam artists to charge consumer accounts despite signs of ongoing fraud and unauthorized transactions. Today, the Commission announced a proposed settlement resolving allegations that a payment processor, Process America Inc., and its owners, Kim Ricketts, Keith Phillips and Craig Rickard, used unfair tactics to open and ... Read More »

CFPB to Begin Accepting Debt Relief Complaints. Game Changer.

news-hot

A source from the CFPB has reveled that the CFPB will begin to accept complaints from consumers in 2014, and most likely by summer 2014. This means debt relief companies will most likely be in the same boat as other entities the CFPB supervises when it comes to identifying what specific company is generating complaints. Consumer complaints filed will most ... Read More »

2013 Holiday Spending Set to Change Debt Relief Industry

Searching-right

In the debt relief industry the post-holiday period was always the busiest as those pesky holiday bills rolled in and people realized they overspent. The past recent years have been tough for debt relief companies since tough economic times had erased the big post-holiday debt relief peak we all used to know. New data is out that shows what we ... Read More »

Americorp Does Not Show Up for Trial. Allegro Law Litigation and Bankruptcy Nearing Completion, Maybe.

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It seems like a lifetime ago that I first wrote about the Allegro Law debacle. After Hess Kennedy, Allegro was the next big debt settlement firm to implode. We first wrote about Allegro Law in 2009 and since that time, Allegro Law went out of business, consumers lost money, Keith Nelms lost his law license and went bankrupt, and nobody ... Read More »

USAvsDEBT, USDC Student Loan Services and Student Loan Consolidation Center Signup

welcome

The Association for Student Loan Relief has shared new member flocking to the association focused on selling student loan relief services to consumers. Current members include AP Student Loan Relief, Action Financial, Debt.org, Student Loan Consolidation Center, American Student Loan Consolidators, US Student Loan Services, USAvsDebt, USDC Student Loan Services, Frontline Debt Services. – Source As always, for consumers who ... Read More »

Should I Payoff My Student Loans? – Sarah

Sagging Economy

“Dear Steve, I have about $19,000 in government-backed student loans at 2.25%. When I graduated, I was advised to NOT pay off the full debt right away and “take advantage” of the low interest rate. So, I have been paying slightly more than the minimum each month ($100) and have only knocked the principal down about $1000 since graduating in ... Read More »

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