A very kind reader sent in this mailer they received from Clay Advisors pitching a debt consolidation loan. When I looked at it, I remembered I’d posted another similar one. This is the advantage of people sending me their mailers. The previous mailer was sent by White Mountain Partners. Take a look at the White … Read more
The City of Chicago filed a lawsuit against Strategic Financial Solutions, Burnette Legal Group, Timothy Burnette, and Monarch Legal Group on July 26, 2022. The complaint filed by the City of Chicago contains the following statements. “Monarch Legal and Strategic Financial Solutions jointly run a fraudulent “debt resolution” program that preys on Chicagoans struggling with … Read more
The Federal Trade Commission is sending 14,521 checks totaling more than $822,000 to borrowers who lost money to a student loan debt-relief scheme that operated under the name Student Advocates. Consumers who receive checks should cash them within 90 days, as indicated on the check. Recipients who have questions about their refund should call the … Read more
Yesterday, the U.S. Department of Education (Department) announced that it will discharge all remaining federal student loans that borrowers received to attend ITT Technical Institute (ITT) from January 1, 2005, through its closure in September 2016. The decision, which follows Departmental findings based on extensive internal records, testimony from ITT managers and recruiters, and first-hand … Read more
Question: Dear Steve, I’m drowning in credit card debt and a personal loan. Like others, living costs are almost impossible, and I haven’t been able to pay minimum balances. No doubt I get like 30 calls a day and mail. I’m going insane. My score took a plunge, so I can’t get one loan to … Read more
Question: Dear Steve, I have Tuition Answer loans and did a Chapter 7 in 2013. My loans were not discharged, not even mentioned, since they were deemed “cannot be discharged” in bankruptcy. At that time, I was unemployed and collecting state welfare, still paying on my loans so I would not go into default. Now … Read more
Good people dealing with money troubles and debt worries make this same mistake over and over. Unfortunately, it can cost millions of lost dollars in retirement savings. In this podcast, Steve Rhode from https://getoutofdebt.org and Damon Day from https://damonday.com talk about how to avoid this simple, crushing mistake that can ruin a future financial life. … Read more
Question: Dear Steve, I took a loan from Title Max, and I’ve been paying the interest with $308 every month for almost six months. My vehicle is now messed up, and I’ve had it fixed, but the mechanic informed me about all the multiple problems aside from my main problem & how I do need … Read more
Question: Dear Steve, Hello, my wife signed up with My Education Solutions to try to reduce her federal student loans but canceled the service after seeing this legal action against them in the news. She had requested a refund of fees but never received anything back. Do you have any updates on what’s happening with … Read more
Question: Dear Steve, Hello, I have messed up myself! I have taken out several tribal loans, and the payments are killing me. How can I pay these off for as little as possible? Do I need to file for bankruptcy? Kaylee Answer: Dear Kaylee, Tribal loans have been a real pain in the ass for … Read more