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Home > Author Archives: Steve Rhode (page 11)

Author Archives: Steve Rhode

What Happens if I Leave the U.S. and Can’t Pay My Student Loans?

Japanese Rock Garden

“Dear Steve, I borrowed $90k to fund my degree in the US and thereafter moved overseas for work. The loan was through Access group and they have since transferred it to First Associates. There was no cosigner on the loan and I have there are not assets secured on the debt. I am not a US citizen or green card ... Read More »

    My Husband Ran Off With Another Woman and Left Me in Student Loan Debt

    Pow! - Comic Speech Bubble, Cartoon

    “Dear Steve, My husband took off with another woman. Our house is now in foreclosure and our daughter had to quit college because my ex messed up loan application paperwork. We took out Student Plus loans done in my name because he was overseas when the paperwork needed to be signed, but part of the divorce settlement stated HE WAS ... Read More »

      The Credit Union Won’t Lower My Son’s Student Loan Interest Rate

      waving

      “Dear Steve, Too much student debt and banks wont help. My son has a few student loans. One of them is from a credit union with an interest rate of 9.5% The payments are $658 for the next 25 years!! We have asked them to lower the rate, so he can make the payments, but they said they can’t. My ... Read More »

        Mortgage Relief Marketers & Danielson Law Group Settle With FTC

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        A group of Utah-based defendants claiming to be legal experts in loan modifications have settled Federal Trade Commission charges that they broke the law by conning consumers into paying hefty fees for worthless mortgage relief services. The five proposed orders settling the FTC’s charges ban the defendants, led by Philip J. Danielson and his company, Danielson Law Group, from offering ... Read More »

          Am I Doomed as a Student Loan Cosigner?

          Portrait scary monster clown

          “Dear Steve, I co-signed a Sallie Mae (now Navient) student loan for my daughter’s half-sister about 10 years ago. She never finished her degree, got married and just gave birth to her third child. For the most part, she’s made payments on the loan but often put it in deferment or forbearance for periods of time. The current amount of ... Read More »

            The Statute of Limitations Has Expired on My Sallie Mae Student Loans

            closeup of a gavel on cash, from above

            “Dear Steve, I took out 4 student loans in 2005, 2 Federal and 2 Private. I am current and making payments on the Federal, but my 2 private loans with Sallie Mae have more than tripled in size since 2007. Sallie Mae is trying to say I made a payment in 2009, but there is conflicting information on my credit ... Read More »

              Debt Buyers Keep Selling My Debt And I’m Being Sued

              kiten hiding

              “Dear Steve, I recently attended at Case Conference Meeting at my local courthouse for an old credit card debt and judgement. Prior to the conference I contacted the attorney (listed on court docket) representing the debt buyer and was informed the attorney no longer represented the firm and it now with a new debt buyer. At the meeting an attorney ... Read More »

                I Was Unfairly Terminated and My Firing Caused a Bunch of Debt

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                “Dear Steve, I was left terminated after corporate falsely identified me not eligible for a temporary leave when I have documented hospital visits to remain out of work for the needed amount of time to qualify for the temporary leave. Corporate denied my request, even though I met qualifications. And was later corrected but due to their rehire policy they ... Read More »

                  What Happens to My Cosigner if I Stop Paying My Student Loans

                  NCLC Report

                  “Dear Steve, Over $200,000 in private student loan debt with a cosigner. If I choose to stop paying my private student loans, will I be held responsible or will the companies go after my cosigner? Lulu” Dear Lulu, Nothing good is going to result. The lender will most likely pursue you and/or the cosigner for payment. The defaulted payment history ... Read More »

                    Stafford and William D. Ford Loans Discharged in Bankruptcy

                    Woman in safari hat looking through binoculars

                    As part of my ongoing look at student loans and bankruptcy, today I’m reviewing a case where both a Federal Stafford Loan and a Federal William D. Ford Direct Loan were completely discharged in a chapter 7 bankruptcy. 14-40052 Branneky According to court documents, the Plaintiff filed a voluntary petition for relief under Chapter 7 of the U. S. Bankruptcy ... Read More »

                      Can I Really Discharge My Student Loan Cosigner Liability in Bankruptcy?

                      Mature woman confused

                      “Dear Steve, I am currently filing for Chapter 7 bankruptcy in TX. A large amount of my debt comes from being a co-signer on multiple private student loans for my son. He graduated Dec 2008 with a finance degree as the economy was headed down. He was not able to get a job for more than 1 year. He worked ... Read More »

                        Verve Credit Card, Cerulen Credit Card, and Matrix Credit Card Users to Get Millions

                        You will help protect people when you sell me your junk mail.

                        Today, the Consumer Financial Protection Bureau (CFPB) ordered Continental Finance Company LLC, a subprime credit card company based in Delaware, to refund an estimated $2.7 million to approximately 98,000 consumers who were charged illegal credit card fees. The agency found that the company’s “fee-harvester” subprime credit cards misrepresented certain fees and hit consumers with illegal charges. The order also requires ... Read More »

                          My Crowdfunding Donations to Help a Sick Friend Are 1099-K Taxable Income?

                          Portrait Of Shocked Woman Looking At Camera Isolated On White Ba

                          “Dear Steve, My friend’s mother was diagnosed with cancer and died within a few short months. As the end was nearing I started a GoFundMe page for my friend (age 24) who was to become the sole guardian of her TRIPLET siblings. Due to an amazing community effort, $36,000 was raised. All said it was a miracle…except when the 1099k ... Read More »

                            I’m Willing to Radically Change My Finances to Payoff My Student Loans

                            Drowning swimmer

                            “Dear Steve, Where to start? I’m a 28 year old married male and am a manager for a private equity portfolio company. My financial stats are as follows: Gross Household Income: $180,000 Private student loan debt (Husband only): $155,000 Public student loan debt (combined): $52,000 Mortgage Debt: $240,000 We currently own our house which is all in (including utilities) approximately ... Read More »

                              Payday Lenders Might Face Federal Rules to Protect Borrowers

                              Abstract Image of Business People Walking on the Street

                              The New York Times is reporting the Consumer Financial Protection Bureau (CFPB) may take action this year to rein in the abuses in the payday loan industry. Research by the CFPB has shown more than 80 percent of payday loans are rolled over or followed by another loan within 14 days; half of all payday loans are in a sequence ... Read More »

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