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Home > Author Archives: Steve Rhode (page 13)

Author Archives: Steve Rhode

Debt and the Theory of Dissaving. Why You Need to Take Action.

dissaving1

Being in debt causes us to become paralyzed with uncertainty and that leads to inaction. I want to talk about why if you wait too long to take actin it can be a very expensive mistake. And while I did previously write Get Out of Debt Fast, But Don’t Run, you should not just stand still as well. When people ... Read More »

    Debt Settlement Executives / Sales Reps Face Up to 20 Years in Jail

    The pain generated by the injury to your finances leaves you feeling lost, afraid, and confused.

    A friend sent in this announcement from the Department of Justice. Wow! A grand jury in Santa Ana, California, indicted three individuals for allegedly operating fraudulent debt relief services companies 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, 29, Elias Ponce, ... Read More »

      You Know Google Isn’t Perfect When…

      Google Gets it Wrong

      I was doing some research for a story and came across this search result. You’ve got to laugh when Google says the U.S. Department of Justice has a bad reputation. Thank you Google for the best laugh of the day so far. Read More »

        Car Title Lenders Deceived Consumers Says FTC

        ftc

        The Federal Trade Commission has taken action for the first time against two car title lenders, reaching settlements that will require them to stop their use of deceptive advertising to market title loans. A car title loan is typically a high cost, short-term loan, secured with the consumer’s car title. In administrative complaints issued against two title lenders, First American ... Read More »

          A Look at a Cosigners Navient Student Loans Discharged in Bankruptcy

          Student Loans Concept

          As part of what has become an ongoing look at student loans discharged in bankruptcy the example today is where a cosigner discharged their liability for federal student loans with Navient Solutions. This case is yet another example of how the financial hardship of having to repay unmanageable student loans can lead to a discharge of the student loan debt. ... Read More »

            My Ex Was Supposed to Pay the Debt in the Divorce But They Are Coming After Me

            Divorce

            “Dear Steve, I was divorced in 2007. It was an amicable split and, as stipulated in the divorce decree, I took some of our combined debt and she took one of our debts in the form of a bank credit card. She remarried and together she and her new spouse decided not to pay on the debt that she assumed ... Read More »

              Diploma Mills Halted by FTC

              ftc

              The principal owners of two Florida-based online diploma mills are permanently banned from marketing and selling academic degrees under settlements with the Federal Trade Commission. Alexander Wolfram and IDM Services, LLC, and Maria Garcia have settled charges that they deceived consumers into enrolling in their programs by claiming they could obtain “official” and accredited high school diplomas and use them ... Read More »

                Should I Payoff My Navient Student Loans or Save for Retirement?

                retirement

                “Dear Steve, I’m 34 years old, single, graduated a college when I was 26. Currently I have 2 student loans: 1. Navient Student Loans: $ 25,387.21, 5.25%, monthly payment of $ 235.41 2. AES Student Loans: $17,152.33, 5.125%, monthly payment of $ 186.68 I have about $10k in a saving account (with 1% interest), and a rollover IRA with about ... Read More »

                  They Tell Me My Parent PLUS Loans Are Not Eligible for Help

                  Drowning swimmer

                  “Dear Steve, My children were living with me when they filled out their FAFSA forms. I ended up with over $20,000 in Plus parent loans as a result even though my only income at the time was child support. Can parent student loans (PLUS loans) be either transferred to the now adult children or be discharged in bankruptcy? Being parent ... Read More »

                    Identity Thieves Con the Department of Education Out of Student Loan Money

                    mans hands behind bars in jail or prison

                    We’ve heard a lot in the news about people stealing information on people and using that personal information to file for tax refunds. It’s a growing form of identity theft. But in a new twist, Ronzell and Stephanie Mitchell were using stolen personal information to scam the Department of Education out of $270,000 of student loan money. According to WJLA ... Read More »

                      Half Million Dollars of Federal Student Loans Discharged in Bankruptcy

                      bankruptcy-1

                      So many people continue to assume student loan debt can’t be discharged in bankruptcy. Even bankruptcy attorneys perpetuate this myth as well. In previous articles, that you can find here, I’ve shown specific examples of both federal and private students loans discharged. I’ve even pointed out broad niches of student loan debt not protected by bankruptcy, in this article. But ... Read More »

                        California Fair Debt Buying Practices Act Gives Consumers Rights

                        law books

                        If you are being hounded by a debt collector over an old debt and you live in California, you need to pay attention to the Fair Debt Buying Practices Act. Under that new California law the buyer of old debts who is now attempting to collect on the debt has certain hurdles to jump over before you have to pay. ... Read More »

                          Cell Phone Provider to Pay Millions for Throttling Data. Refunds Available.

                          blank screen mobile in woman hands

                          TracFone, the largest prepaid mobile provider in the U.S., has agreed to pay $40 million to the Federal Trade Commission to settle charges that it deceived millions of consumers with hollow promises of “unlimited” data service. The FTC’s complaint against TracFone alleges that since 2009, TracFone has advertised prepaid monthly mobile plans for about $45 per month with “unlimited” data ... Read More »

                            Attorney Mitchell Stein Gets 204 Months in Federal Prison. Refunds to Begin.

                            time and money

                            It’s hard to believe it has been nearly four years I’ve been writing about Mitchell Stein, an attorney out of California who, at the time, was involved in the mass joinder approach of selling consumers hope they could sue their mortgage company. Stein seemed to be at the forefront of the movement that was selling litigation to consumers all across ... Read More »

                              Discover Bank Debt Consolidation Offer Review

                              Discover Debt Consolidation Offer 2

                              Is your mailbox getting stuffed with offers from creditors? Here is a recent offer from Discover Bank that appears to be a debt consolidation loan to pay off debt. In order to help people better understand the offer, I’ll break it down for you below, page by page, and point out what I think are the important points. While the ... Read More »

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