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Home > Author Archives: Steve Rhode (page 3)

Author Archives: Steve Rhode

Should I Stop Paying My Private Student Loans Now?

Businessman trying to solve a maze questions

Question: Dear Steve, I graduated in 2006 with over $50k in private student loans. After I graduated, Citi wanted $400/month. Unable to make the payments, I went on years of deferment and forbearance as my loan was bought and sold by several banks and lenders. My loan reached a max of $110,000. I am now 10 years removed from college, ... Read More »

    Rescue One Financial Hit with Class Action Suit by Howard Law

    Hello I Am Suing You words on a name tag sticker informing that someone is bringing a lawsuit against you in a court of law

    While working on another article I came across the case below. I’ve written articles recently about debt relief companies and the exposure of Telephone Consumer Protection Act claims. Michael Perri v. Rescue 1 Financial “1. Defendant Rescue 1 Financial, LLC (“Defendant” or “Rescue 1”) is a national financial services company that focuses on consumer debt management such as: debt settlement, ... Read More »

      Is Howard Law a Victim in the Morgan Drexen Case?


      Rather than rehash the relationship between Howard Law and Morgan Drexen, click on the links to their names for the backstory. Recent court documents present an argument by Howard Law that the CFPB action and closure of Morgan Drexen should not involve them or their clients. “When the CFPB initiated the underlying action (the “Action”) against Morgan Drexen, Inc. (“Morgan ... Read More »

        11 Myths About Student Loan Forgiveness

        Illustration of chalkboard with text facts and crossed myths

        If you have more student loan debt than you can handle, or if you’ve been paying and paying (and paying) and can’t make headway, chances are you’ve wondered about student loan forgiveness. As you look into your options, keep in mind that everything you read (or hear — even from your student loan servicer) may not be accurate. We asked ... Read More »

          Vemma – Another MLM Slammed Shut. Good Products. Bad Business.


          Promised Unlimited Income Potential, But Most Participants Lose Money At the Federal Trade Commission’s request, a federal court has temporarily halted an alleged pyramid scheme, Vemma Nutrition Company, that lures college students and other young adults with the prospect of getting rich without having a traditional 9-to-5 job. The FTC seeks to stop the operation, which earned more than $200 ... Read More »

            Walter Ledda, Working as Temp in Poland, Caught By Surprise in Morgan Drexen Case

            The actual granular data presents a surprising reality.

            New public documents filed in the Morgan Drexen case paint a picture of Walter Ledda caught by surprise by the turn of events. These excerpts are from the documents shown with the source link. You can click on those documents to read the full original filing. In the first document, Ledda represents the recent CFPB action caught him by surprise. ... Read More »

              World Law and Orion Processing – Raided – Frozen

              afraid alone

              Last week the CFPB raided Orion Processing’s headquarters after obtaining a search warrant. The CFPB filed a complaint last Monday, and obtained a Temporary Restraining Order (TRO) last Tuesday, which was under seal until late yesterday. With the TRO, the CFPB also obtained an asset freeze on all of the defendants’ assets. The defendants include Orion Processing, Derin Scott, David ... Read More »

                How Can My Husband Get Out of a Spousal Consolidation Loan?

                Portraits of people thinking

                Question: Dear Steve, My husband of 19 years was married previously. He and his ex-wife each had a student loan that she combined into one under her SSI#. These loans are from the 1990’s. When he and I married the loan servicer, Sallie Mae, would not split the loan and so payments were sent in separately. In this time frame ... Read More »

                  Morgan Drexen Bankruptcy Update for August 25, 2015

                  Bankruptcy Road Sign

                  As part of the public record, the bankruptcy trustee in the Morgan Drexen bankruptcy has just posted a very interesting update. The document was filed on August 24, 2015 and here is what it says. The Trustee states the Morgan Drexen business has been wound up and 15,000 letters were sent to “Affected Customers” notifying them of the facts surrounding ... Read More »

                    How Can I Make ACS Verify My Student Loan Balance?

                    Magnifying Glass - Q&A

                    Question: Dear Steve, Apparently I have a consolidation loan through ACS for double the original amount. I have another consolidation through AES and that amount is consistent (a bit more because of some forbearances). Original amount about 26K, amount they are claiming over 45K. I have sent several formal requests for ACS to substantiate the loan amount only to receive ... Read More »

                      No Big Changes Seen in Debt Relief Sales

                      Nr. 61

                      For debt relief companies who sell services to consumers with unsecured debt, new data out from TransUnion says demand for debt relief services should remain relatively flat. “The credit card delinquency rate (the ratio of borrowers 90 days or more delinquent on their general purpose credit cards) remained steady at 1.19% in Q2 2015. The delinquency rate was relatively unchanged ... Read More »

                        Helping America Group – You Used Them Yet?


                        I just published a post where I took a look at recent job postings. The post mentioned a debt relief company I was not familiar with, Helping America Group. It appears the company is a recently converted corporation to an LLC and the contact person for the company is Jeremy Marcus. – Source The company says, “We are a risk ... Read More »

                          Recent Job Postings for Debt Relief Experience


                          Here are some current job posting in the debt settlement industry that I found. Student Zoom Debt Settlement Sales Representative Student Zoom, LLC – San Diego, CA $1,600 a month Hello, We’re looking for a highly motivated salesperson with experience selling Debt Settlement preferably through Freedom Debt Relief or DMB. Our ideal candidate is someone who enjoys helping others, is ... Read More »

                            Who is Prospectus Financial in Boca Raton, Florida?

                            Adult Ed - Questions

                            I received an email from a tipster (send in your tips here) about some company named Prospectus Financial in Boca Raton, Florida. I was unable to locate a website for the company but I did located job postings for Debt Resolution Specialists. – Source It is hard to interpret exactly what Prospectus Financial is offering but it sounds as if ... Read More »

                              Andris Pukke From Ameridebt Still Dealing With Courts

                              Andris Pukke

                              A tipster (send in your tips here) mentioned something about Andris Pukke still dealing with his criminal case filed by the United States in 2010. Pukke, as you may remember, was charged with crimes related to his debt relief activities and wound up eventually serving jail time. You can see the back history if you click this link. FYI, it ... Read More »

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