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Home > Author Archives: Steve Rhode (page 3)

Author Archives: Steve Rhode

NJClass and Nelnet Will Ruin Our Marriage and Lives

fear is a prison

“Dear Steve, My fiancé has a ridiculous amount of student loan debt. He attended Felician College in Lodi, New Jersey, a private school and has $140,000 in student loan debt from two lenders: NJClass/HESSA and Nelnet. The payment from HESSA is $900/month and the one for Nelnet is $600/month. HESSA is impossible to deal with as it is a private ... Read More »

    Should We File Taxes as Married Joint or Married Separate?

    Strangest-Taxes-and-Deductions1

    “Dear Steve, I have graduate degree loans totaling close to $70K now w/interest that I have been paying since 2001. I have been paying a reduced rate ($20/mo) on them for some years now because I haven’t been able to work since our first child was born 10yrs ago. My husband also has sizable graduate loans of about $90K, but ... Read More »

      Should We Rent or Buy a House?

      transunion_creditvision

      “Dear Steve, My wife and I are new to the area and wondering if we should jump right in and buy a house or rent. I hate to rent because I think we are throwing our money away. What do you think? David” Dear David, I can certainly understand the idea of pride of ownership and the desire to buy ... Read More »

        Why People With Good Credit Have More Dollars in Their Pocket

        How Much Your Credit Score Costs You

        Credit Karma, an online consumer finance platform with more than 35 million members, today launched a new consumer education website in honor of March’s Credit Education Month to better educate consumers about credit health. The new site, CreditEducationMonth.com, is designed as a first stop for consumers to educate themselves on the importance of actively managing credit, illustrating the impact of ... Read More »

          The Association of Credit Counseling Professionals Releases Student Loan Counseling Boot Camp Videos

          education

          Student loans; the majority of college bound students can’t do without them, yet many don’t understand their options when it comes time to begin repayment. The February 2015 Quarterly Report on Household Debt and Credit from the Federal Reserve Bank of New York reports that student loan debt increased $77billion year over year, now standing at $1.16 trillion in outstanding ... Read More »

            Student Aid Bill of Rights to Assist Federal Student Loan Debtors

            happy woman in wheelchair outdoors beach showing victory sign

            In a move that could help make it easier for federal student loan debtors to deal with their loans, President Obama has just announced a new Student Aid Bill of Rights. It appears the government might be making it easier for consumers to discharge federal student loans through bankruptcy. Take a look at Section 3(b) below. In section 2(c) the ... Read More »

              Debt Settlement Industry – Sued in RICO Complaint

              The stomach ache is the symptom, not the problem. What is causing the stomach ache?

              It what I can only describe as a bombshell of an email, apparently debt relief industry individuals received the email below from Ira Frazer of Consumer Legal Services America, that has explosive implications. The email reads like a conference listing of both sides of the debt settlement industry. I reached out to Ira Frazer yesterday for more information but as ... Read More »

                Reader Raises Concerns About Financial Rescue, LLC and Success Link Processing, LLC by Consumer

                Feedback

                I received an email from a reader, along with a filed complaint, who expressed some serious concerns about two companies selling debt settlement services; Financial Rescue, LLC and Success Link Processing, LLC. The reader sent in the following statement: “In August of last year, I enrolled in this company from Financial Rescue LLC in Milpitas, CA. They are a local ... Read More »

                  CC Brown Players Charged in Mortgage Modification Scheme

                  law books

                  WASHINGTON, DC – Christy Romero, Special Inspector General for the Troubled Asset Relief Program (SIGTARP), and Carlie Christensen, United States Attorney for the District of Utah, today announced that a 40-count federal indictment unsealed on March 5, 2015, in U.S. District Court in Salt Lake City charges six individuals with violations of federal law in what the indictment alleges was ... Read More »

                    California Man Sentenced to 24 Years in Fed Prison for Foreclosure Rescue Scam

                    mans hands behind bars in jail or prison

                    Christy Romero, Special Inspector General for the Troubled Asset Relief Program (SIGTARP), and Benjamin B. Wagner, United States Attorney for the Eastern District of California, today announced that Alan David Tikal, 46, formerly of Brentwood, Calif., was sentenced on Thursday by United States District Judge Troy L. Nunley to 24 years in federal prison for his convictions on 11 counts ... Read More »

                      Debt Relief Master Class to be Held in San Diego

                      Adult Ed - Questions

                      MSTARS, the debt relief training company has announced a debt relief class for those in the debt relief industry. The class will be held in San Diego, California on April 6-7, 2015. Classes are designed for many different job roles in the debt relief company. These include owners, senior staff, sales managers, customer care staff, sales staff, and consultants. For ... Read More »

                        I Don’t Give a Damn About My Credit, Said Almost No Car Buyer

                        buying car

                        The credit report folks, Experian have released data which surprised even me. There are whole camps of people out there, typically Dave Ramsey fans, who say they don’t need credit and don’t plan to ever use credit again. But according to Experian, 84% of people who purchase new vehicles actually do use credit. Credit avoiders can talk a big game ... Read More »

                          U.S. Dept of Education Says Some of Their Debt Collectors Just Suck

                          Portrait Of Shocked Woman Looking At Camera Isolated On White Ba

                          Following a review of 22 private collection agencies, the U.S. Department of Education announced today that it will wind down contracts with five private collection agencies that were providing inaccurate information to borrowers. The five companies are: Coast Professional, Enterprise Recovery Systems, National Recoveries, Pioneer Credit Recovery, and West Asset Management. The Department also announced that it will provide enhanced ... Read More »

                            Is Your Better Credit Score Just Waiting For You?

                            CreditVision

                            A recent TransUnion study found that more than 23 million U.S. consumers would be classified as Super Prime, the highest-rated consumer credit risk group, when evaluated by TransUnion’s CreditVision® risk score. Compared to the use of a traditional risk score, the use of CreditVision would increase the percentage of consumers in the Super Prime risk category from 12% to 21%. ... Read More »

                              British Columbia Pulls Rug Out From Under Advanced Fee Debt Settlement in Canada

                              canada

                              Enhanced protections for B.C. families, particularly those in financial distress, are at the heart of legislative changes introduced today by the B.C. government. The Province is taking action to regulate the debt settlement industry with amendments to the Business Practices and Consumer Protection Act (BPCPA). If passed, these amendments will prohibit debt settlement companies from charging fees until both the ... Read More »

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