Home > Author Archives: Steve Rhode (page 11)

Author Archives: Steve Rhode

Why Are Huge Collection Costs Being Added to My Student Loan?

Student Loans Concept

Question: Dear Steve, I was unemployed for several months and my student loan with ACS was delinquent and now ASA American Student Assistance has “purchased” the debt and say I can do the rehabilitation program but they are going to add 18% to the total. Also, the letter I received from ASA said that I had until 2/8/16 to contact ... Read More »

    Can My Son File Bankruptcy on His Tribeca Flashpoint Media Arts Academy Loans?

    certificate_of_deposit

    Question: Dear Steve, My son graduated from Tribeca Flashpoint Media Arts Academy in Chicago, IL. He has $59,000 in loans through Sallie Mae with interest rates that range from 8.25% to 10.375%. I believe you call these private or unsubsidized loans. Sallie Mae won’t issue us a 1098E so he can claim the interest paid each year for taxes. We ... Read More »

      Collectors Keep Calling Me for the Cosigned Sallie Mae Student Loan

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      Question: Dear Steve, I cosigned on my sons Sallie Mae loan. It took more than 2 years of calling them weekly to get any paperwork on the agreement of this loan as his payments were 991.00 a month. He wasn’t paying them so I was paying what I could $660.00 a month only to have them call me 11 times ... Read More »

        Which of Us is Responsible for the Parent PLUS Loans?

        Adult Ed - Questions

        Question: Dear Steve, My ex and I have several Parent Plus loans for education for our son and now that we are divorced are both parties responsible for the total combined debt or each responsible for only the ones in our respective names? There is no mention of the student loans in the divorce settlement. Jeff Answer: Dear Jeff, The ... Read More »

          Most College Students Massively Fail When it Comes to Understanding their Student Loans

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          I’ve been helping people with financial problems since 1994. And in that time I’ve seen all sorts of suggestions to inoculate consumers from money problems. Most of the suggestions surround the need for kids to have more financial literacy education. Sounds logical, right? But my mouth is hanging open as I read the latest college student survey from LendEDU. The ... Read More »

            Debt Relief Scammer Headed to Jail After Pleading Guilty

            Dead man walking - Sad prisoner with handcuffs in prison with orange clothes

            An Orange County, California, man pleaded guilty today for his role in operating fraudulent debt relief firms that offered to settle credit card debts but instead took victims’ payments as undisclosed up-front fees, the Justice Department and U.S. Postal Inspection Service announced. Jeremy Nelson, 30, pleaded guilty to one count of an indictment alleging conspiracy to commit mail fraud and ... Read More »

              Anatomy of a Scam – How Easily You Can Get Suckered

              scammer

              Here is a great story that lays out how shady telemarketers can convince you to jump into any scam. In my world it is usually some B.S. debt relief effort. Today the most prevailing debt relief product some scammers are pushing is student loan assistance for federal loans. But it is a moving target. In the past the scam of ... Read More »

                I’m a Teacher and Afraid to Settle My Navient Private Student Loan

                single mom

                Question: Dear Steve, Public school teacher with public and private loans. My federal loans are now on the 10 year loan forgiveness plan after I consolidated all of my federal loans with the government and away from Sallie Mae. Unfortunately, none of the Sallie Mae payments counted toward the 120 consecutive payments, but I’m also on the income contingent plan. ... Read More »

                  What Do You Know About Camden Legal Group?

                  Searching-right

                  Question: Dear Steve, I gave Camden Legal Group in Beverly Hills, California, a deposit for $4,000. and gave them instructions on how I wanted to handle my lawsuit against Nationstar mortgage!!! They called me after about a month to tell me that they could try to get my loan modified since it had recently been sold to another investor, to ... Read More »

                    If I File Chapter 13 Bankruptcy Will My Son be Protected?

                    Inside view of an antique combination lock of bank Mandiri in Jakarta, Indonesia

                    Question: Dear Steve, I am the cosigner on my sons private student loans. I have been paying them because he is nowhere near able to pay the large amount. All was well until I had incurred very large credit card debt. I am thinking about filing a Chapter 13 bankruptcy. Will the automatic stay keep the lender from going to ... Read More »

                      Do I Have a Good Case for Eliminating My Private Student Loan Debt?

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                      Question: Dear Steve, I am interested in pursuing bankruptcy for my private student loans. While this is usually a futile battle, documentation from the research I have done will make my claim valid. I have $41000 in debt to ACS, and I have $111000 in debt to Navient (Sallie Mae). Only about $30,000 of that money ($152,000) was actually used ... Read More »

                        Can I Settle My Student Loan Debt With LendKey or Aspire Federal Credit Union?

                        Moving up and the power of success with a growing tree in the shape of wings that has emerged out and has taken flight upward to opportunity as a business concept of the evolution of successful leadership and strategic planning.

                        Question: Dear Steve, Private loans. Debt balance $39K. I have switched lenders many times. Finally got an interest rate lower than 8.9%, making some head way on my loan however I’m still being jerked around. Is it possible to request a settlement on a current loan? My lender is LendKey. They had me go through a credit union (Aspire) I’m ... Read More »

                          Is Income Based Student Loan Forgiveness a Real Reality?

                          The American flag hangs proudly with a blue sky background on Main Street in Hometown America.

                          Question: Dear Steve, After 12 years of schooling to obtain a doctorate in veterinary medicine as well as a masters in public health, I managed to accumulate over $300,000 in students loans by the time I graduated in 2009. Following a 1-year internship where I needed to defer the loans, this increased even higher. Consequently, I have had to transition ... Read More »

                            How Will I Be Able to Repay the IRS?

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                            Question: Dear Steve, Hi Steve- I am a 57 year old single father and am in a lot of debt- and just did my taxes and owe the IRS $3500 which I do not have. I accumulated too much credit card debt and can barely afford to put food on the table after bills are paid. I had to pay ... Read More »

                              I Can’t Afford to Pay My Mom’s Parent PLUS Loan for My Education

                              Skidding

                              Question: Dear Steve, Hey there, so my stepmom took out a parent plus loan to the tune of $100k to pay for my tuition. Obviously, I’m the one stuck with that bill now. She makes about $18k per year so she can’t pay it nor can she help me pay it. The curveball here is my Dad. My Dad makes ... Read More »

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