Home > Author Archives: Steve Rhode (page 18)

Author Archives: Steve Rhode

Why is My Son’s WyoTech Navient Student Loan Being Reported as a Federal Loan? – Ava

Whiteboard

Question: Dear Steve, My son had a Sallie Mae student loan…it was sold to Navient which turned it into a private loan or so they tell me. We have tried the loan forgiveness or reduction twice with no results because it’s a private loan. The lender as so stated on his account site says “Navient Federal Loan Trust” How can ... Read More »

World Law / Orion Processing Kiss Off Case Update

Source

In doing some work on case updates I noticed this lawsuit filed by the Consumer Financial Protection Bureau has a couple of recent updates. First off it looks like Family Capital Investment & Management, World Law Debt Services, and World Law Processing never responded to suit and a default judgment was entered against them on 12-21-2015. – Source Secondly, Defendants ... Read More »

Debt Relief Telemarkters Added to Suit by FTC and Florida

tax_scams

The Federal Trade Commission and the State of Florida have charged a payment processing business with credit card laundering and illegally assisting and facilitating a nationwide debt relief telemarketing scheme that allegedly bilked millions of dollars from consumers. When scammers cannot gain or maintain access to the credit card networks through legitimate means, they frequently turn to illegal credit card ... Read More »

I Thought My Art Institute Student Loans Were Eliminated in My Bankruptcy? – Stephanie

Where does it hurt nurse question

Question: Dear Steve, I went to the Art Institute of California for video production. I graduated in December of 2009. Due to life I had not been able to pay my loans. The went from being 54,000 when I graduated to over a 120,000 last year. Most of the loans were private and I got them discharged in bankruptcy at ... Read More »

How Do I Get My Student Loans Eliminated if I’m Disabled? – Natasha

worried

Question: Dear Steve, Recently approved for Social Security Disability, unable to work and am in default on student loans. The amount I will be receiving from Disability is less than one-fourth of what my net income was when working. Lost my home and car due to loss of income. Is there a way to have the student loans discharged due ... Read More »

I’m Taking Care of My Sick Father and Thinking of Bankruptcy

Woman in yoga lotus  meditation at seaside

Question: Dear Steve, I am a 35 year old mother of 2. I currently have an MBA but haven’t been using the degree at work because I take care of my ill father part-time and work-part time at a bank. Currently I owe $89,000 on my house, $38,000 in federal student loans and $36,000 in credit cards. My question is- ... Read More »

New York Opens Program to Pay Student Loans, Sort Of

footstep

The State of New York has opened up a new student loan assistance program, “Get On Your Feet,” which I’m absolutely positive was created in an effort to help some people who are struggling with student loan payments. But as I sit here studying the initiative I’m left with a furrowed brow. I can see some getting the benefit of ... Read More »

Why REPAYE Stinks as a New Student Loan Repayment Program

Oops! What Is It?

By Bob Preston The President and the United States Department of Education has just unwrapped a gift for every college student who ever took out loans to get an education – But beware! Sometimes the gift wrapping is much more attractive than the present. This one should be opened with extreme care, or as I will suggest, left under the ... Read More »

Beware of These Business Credit Traps

business and office, stress, problem, crisis concept - stressed buisnessman or teacher having headache

An entrepreneur had spent $80,000 buying a corporation that he was assured came with access to $250,000 in credit lines. He got the corporation, all right, but the promised credit lines never materialized, and he had to start from scratch. Oops. That story was shared with my friend Gerri Detweiler by small business attorney Garrett Sutton, one of a handful ... Read More »

What I Learned From Selling Debt Relief Services. What I Got Wrong and Right On the Front Lines.

rewards_points-_learnvest

(Originally published October 11, 2010) I had this idea for an article to look back to my early days in the debt relief world, back when I was running Myvesta, a non-profit credit counseling group, and show you examples of what I did wrong and learned from the experience. The irony is people don’t realize when I review a site ... Read More »

“Looks Like Fraud?” – Texas Assistance Group

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A reader sent in a mailer they had received from Texas Assistance Group and said, “Looks like fraud?” I don’t know if it exactly looks like fraud, because in my opinion it looks more like bullshit. Here are some red flags for me. But each person should feel free to do their own examination and reach their own conclusion. The ... Read More »

My Mom is Dealing With US Legal Services Group. – Jillian

garage

Question: Dear Steve, My mom needs help with this she has been paying U.S. Legal Services Group for more then 3 years now. Now they are switching to Global Client Solutions and sent her a check and told her the accounts haven’t been paid for 3 months. She has been paying them $500 a month all this time. What should ... Read More »

Is There Anyway to Get Out From Under My Navient Student Loans? – Kim

future

Question: Dear Steve, I was young and dumb and didn’t have any financial help with college. I took out student loans to support my education. After 2 years, I was supposed to be able to get instate tuition, but my alcoholic mother kept claiming me as a dependent on her taxes (although she didn’t support me in ANY WAY). Needless ... Read More »

Is There a Debt Solution Company You Would Recommend? – Donnie

Frustration

Question: Dear Steve, Due to medical issues and a large percentage (25%) loss of salary my wife and I are in serious debt. We owe approximately 52,000.00 in credit card debt. I am looking at some debt solution companies at possibly helping get this debt under control and paid off in a reasonable period of time. Is there a particular ... Read More »

Frederick J. Hanna & Associates Stopped by CFPB for Collection BS

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Today, the Consumer Financial Protection Bureau (CFPB) filed a proposed consent order in federal court that would resolve a lawsuit against Frederick J. Hanna & Associates, a Georgia-based law firm, and its three principal partners, for operating an illegal debt collection lawsuit mill. The CFPB lawsuit had alleged that the defendants rely on deceptive court filings and faulty evidence to ... Read More »

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