Question: Dear Steve, I just found out my school is now one of the schools part of the Borrower Defense lawsuit, Chicago School of Professional Psychology. I’m currently under the PSLF program, needing four more years until forgiveness. If I apply for the Borrower Defense discharge, will it affect my current PSLF application? Bill Answer: … Read more
Question: Dear Steve, I work in a public non-profit and currently have federal and private (Navient) student loans. I am in the PSLF program but still have about five years to go. Is there any talk by the federal government (or anyone else) about requiring private student loan companies to participate in a program similar … Read more
In March 2020, the Department of Education suspended required payments on federal student loans due to the COVID crisis. Unfortunately, the feds extended the pause six times, meaning that most borrowers have not made student-loan payments for more than two years. Nearly four out of five borrowers benefited from the pause on their student-loan obligations … Read more
Question: Dear Steve, I read your review of Century with great curiosity, as I was a client from Feb 2019 until a month ago. I believe that they operate very unethical, attempting to skirt the FTC Telemarketing Rule by sending local notaries to sit with prospects on a conference call and then saying the notary … Read more
This week on the Get Out of Debt Guy podcast, I want to talk with you about time running out, buying stuff for less than it costs, car payments over a cliff, and Baaaad people. If you have a question you’d like to ask, go to getoutofdebt.org/question, or if you want to leave a question … Read more
Question: Dear Steve, I paid World Law around $15,000.00 and didn’t get any of my debt settled don’t know where my money is. I want to know how I can get my money back. Judy Answer: Dear Judy, Wow, World Law, there is a company I have not heard about in a few years. Honestly, … Read more
Question: Dear Steve, My name is Alice, and I am from the United States. My husband and I have been married for about 4 yrs now. We were happily married with a 2yrs old son. Three months ago, I started to notice some strange behavior from him, and a few weeks later, I found out … Read more
The Federal Trade Commission sued Financial Education Services and others for selling credit repair and an alleged pyramid scheme business opportunity. Watching the court record, Financial Education Services is pushing back hard. However, the FTC just filed a document that makes a compelling argument why the credit repair company should have some concerns. You can … Read more
This mailer was sent to me through my I Buy Junk Mail program. If you have junk mail you’d like to sell, click here. To see other mailers, click here. If a mailer that looks like this winds up in your mailbox, throw it away. You do not need to keep a copy for your … Read more
Today, the Consumer Financial Protection Bureau (CFPB) issued an advisory opinion affirming that federal law often prohibits debt collectors from charging “pay-to-pay” fees. These charges, commonly described by debt collectors as “convenience fees,” are imposed on consumers who want to make a payment in a particular way, such as online or by phone. “Federal law … Read more
The Federal Trade Commission today sued Walmart for allowing its money transfer services to be used by fraudsters, who fleeced consumers out of hundreds of millions of dollars. In its lawsuit, the FTC alleges that for years, the company turned a blind eye while scammers took advantage of its failure to properly secure the money … Read more
In this podcast, I want to share the following stories that may surprise you. We will start with a loan advertisement that might appear in your mailbox and why you need to watch out. Then we will chat about what will happen with home prices in this uncertain economy. Will they crash? Let’s take a … Read more
A fantastic cousin sent me this mailer he received recently. The outside of the envelope is very generic and says it comes from the Distribution Processing Center at PO Box 689, Marietta, GA 30061-0689. However, the business reply envelope inside goes to a different address at PO Box 1748, Kennesaw, GA 30156-9855. Using the return … Read more
June 2022 marks the 250th anniversary of the outbreak of the 1772-3 credit crisis. Although not widely known today, this was arguably the first “modern” global financial crisis in terms of the role that private-sector credit and financial products played in it, in the paths of financial contagion that propagated the initial shock, and in … Read more
Consumer Statement: I paid this company over $11,000 for services that were never rendered. Once the balance was paid I can not even get a call back after leaving multiple messages and emailing everyone I had access to at the company. It appears to be a fraudulent service. I would like money back as well … Read more