Can I Apply for Borrower Defense if I’m in PSLF for Loan Forgiveness?

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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

Will Private Student Loan Lenders Forgive Loans Under PSLF?

Will Private Student Loan Lenders Forgive Loans Under PSLF?

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

Federal Reserve Says Student Loan Payment Pause Only Delays Day of Recokening

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

Time is Running Out for This Student Loan Forgiveness Program, How to Buy Stuff for Less, Car Payment Crash, and Bad People

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

I Want My Money Back That I Paid World Law

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

Financial Education Services Fighting Back Against FTC Over Credit Repair Allegations

Financial Education Services Fighting Back Against FTC Over Credit Repair Allegations

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

Debt Collectors Told They Can’t Charge You to Pay

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

Walmart Sued for Millions of Dollars by FTC for Fleecing Customers

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

Equity Loan, Home Prices, Money Pain for People That Help Us, and a Controversial Tough Topic That Will Make You Ponder

Get Out of Debt Guy Podcast - Steve Rhode

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

Watch for This Misleading Mailer for Death Benefits

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

How Much Do You Know About the First Global Credit Crisis?

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