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Home > Author Archives: Steve Rhode (page 24)

Author Archives: Steve Rhode

FTC Warns Marketers About Their Shitty Bags

Big Scam Dog

Staff of the Federal Trade Commission has sent letters warning 20 manufacturers and marketers of dog waste bags that their “biodegradable,” “compostable,” and other environmental claims may be deceptive. The letters, which the staff sent after examining the companies’ environmental, or “green,” claims on their websites and in other media, provide examples of potentially deceptive statements regarding the bags’ biodegradability ... Read More »

    CFPB & Dept of Ed Forgive $480 Million in Student Loans

    Clapping Business People

    Today, the Consumer Financial Protection Bureau (CFPB) and the U.S. Department of Education announced more than $480 million in forgiveness for borrowers who took out Corinthian College’s high-cost private student loans. ECMC Group, the new owner of a number of Corinthian schools, will not operate a private student loan program for seven years and agreed to a series of new ... Read More »

      Croatia Just Did a Mass Bankruptcy for Its Poorest Citizens

      Happy Croatians

      I have to give a big hat tip to Croatia for trying a new approach to help its poorest citizens find a way out from under unmanageable debt. The program, called “Fresh Start,” eliminates the debts of about 60,000 Croatians who have less than 35,000 kuna ($5,100), and monthly income less than 1,250 kuna ($138). According to the Washington Post, ... Read More »

        I Paid Off an Old Debt But Can’t Get a Mortgage

        break free from prison pressure or quit job running away towards

        “Dear Steve, I made a move to another state for a new job in early 2007. By the end of summer in 2008 I was laid off from my job. I received unemployment pay but I was out of work for more than a year and a half. At the time I was laid off I had some credit card ... Read More »

          My Nephew Stole My Identity

          ID Theft or Stolen Identity

          “Dear Steve, I am 56 years old and i had perfect credit in 2008 and then a nephew moved in with me. I thought the kid was working when in reality he was stealing and opening credit cards in my name. I was working 70 hr workweeks and he had full access to everything in the house (files) etc. He ... Read More »

            My Father Stole My Student Loan Money

            stressed man

            “Dear Steve, My Dad took out a PLUS loan for me because I had reached the maximum loan allowance from my college as a “dependent” student, even though my parents did not support me in any way. He chose the maximum loan amount $18k (YIKES) and ended up using $3k to lease a new fancy car that he couldn’t afford. ... Read More »

              If the Creditor Didn’t Apply My Payment Do I Have to Pay for a Stop Payment?

              broken piggybank with dollar notes

              “Dear Steve, I’ve been writing checks for my elderly mother in the nursing home to cover her co-payment for the last 4-5 years. In November I hand delivered a check payment to the home and got a note with the last bill stating that deposit was not shown although I made the payment would I check the account. I did ... Read More »

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


                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


                      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


                          “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


                            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?


                              “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 »

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