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Home > Author Archives: Steve Rhode (page 23)

Author Archives: Steve Rhode

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


“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


    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


            “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 »

                            I Don’t Want to Pay My Parent PLUS Loan Anymore

                            Winter Latice and Pergola

                            “Dear Steve, I helped my daughter with a parent plus loan for her last semester which was $6000.00 and I have been paying on it for quite some time. Then she went back her second year and she filled out a 2nd parent plus loan so her payments was 50.00 per month she quit paying now for the past 4 ... Read More »

                              U.S. Canadian Telemarketing Scheme That Hurt Seniors – Shuttered & Settled

                              Senior couple at home focusing on angry man

                              Two defendants who participated in an alleged multi-million dollar telemarketing fraud that targeted U.S. seniors and withdrew money from their accounts without authorization have agreed to settle Federal Trade Commission charges. The settlement orders bar them from using remotely created checks drawn on consumers’ bank accounts, require them to obtain consumers’ consent before debiting their accounts, and prohibit them from ... Read More »

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