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Author Archives: Steve Rhode

Can I File Bankruptcy on My Federal Student Loans to Stop My Wage Garnishment?

Question Theme

“Dear Steve, Wage garnishment has been in effect for almost two years. I was always told that you cannot file bancruptcy on fed student loans…is this true? Currently i am garnished for 25% every two weeks. I no longer can afford my home car etc. Im losing everything. I have filed bankruptcy before and would prefer not to do it ... Read More »

    DOD Purposes Lending Rule Change to Protect Military Families From Abusive Interest Rates

    military

    The Department of Defense is proposing changes to the Military Lending Act (MLA) to extend financial protections for military members and in turn, their families. The MLA limits the amount of interest that a creditor may charge on “consumer credit” to a maximum annual Military Annual Percentage Rate (MAPR) of 36 percent. Not that it’s a fabulous rate. It appears ... Read More »

      Details on Florida Bar Complaint Against Howard Feinmel

      Problem Solving Series

      The Florida Bar has sent me a copy of the complaint they recently filed against Florida attorney Howard Feinmel. I reported yesterday about the case. But today there are more facts available after reading the filed complaint. Right off the bat I found it intriguing the Florida Bar makes the statement, “Respondent has represented various persons and entities, including but ... Read More »

        The Importance of the Asterisk in Credit Offers Using a MiLEND Example

        MiLEND Offer mailed to consumer.

        A reader sent in a mailer about an offer from MiLEND for a new mortgage. MiLEND appears to be all licensed and registered so for once that’s not the issue. The offer appears to be legit and for a new mortgage and cash back “to use any way you like for just an additional $101.18 per month.” But this is ... Read More »

          Money Management International Accused in Kick-Backs in Class Action Settlement

          Young man looking shocked in tablet pc

          Now here is something you don’t get to witness often, if at all. Apparently there is a bit of disturbed blood milling about in the credit counseling world right now. In just doing some routine checking on activity I came across a very, very odd letter from the Association of Independent Consumer Credit Counseling Agencies (AICCCA) to the U.S. District ... Read More »

            CCR Article Brings New Life Financial Services Back to Life

            money down the drain

            I just love the Collections & Credit Risk magazine and website. Those folks over there hold no punches when it comes to the collections and debt relief industry problems. A recent article by Darren Waggoner reminded me of a string of past events surrounding a debt relief company New Life Financial that had been operating someplace out of the U.S. ... Read More »

              Is Synchrony Bank and PayPal Doing Something Fishy?

              Screen Shot 2014-09-25 at 4.08.27 PM

              “Dear Steve, I don’t believe I have been “scammed” in the traditional sense, but I find something fishy about Synchrony Bank (Formerly GE Capital, GE Capital Retail Bank) My story is as follows: I have 3 credit cards with GE CRB and receive notices of change to Synchrony, the usual stuff (my online accts now go to them etc.) That’s ... Read More »

                Michael Harper Appears to Toss Greenspoon Marder Under Bus to CFPB

                news-hot

                In this case against an alleged mortgage relief enterprise that just gets stranger and strange, Defendant Michael Harper has adopted a new approach, throw law firm Greenspoon Marder under the bus. The case filed by the Florida Attorney General and Consumer Financial Protection Bureau against Hoffman Law Group some involved recently resulted in a long and strange tale by the ... Read More »

                  U.S. Bank Slapped With Massive Fines Over Unfair Billing Practices

                  us

                  The Office of the Comptroller of the Currency has just announced a $4 million civil money penalty against U.S. Bank National Association, Cincinnati, Ohio, and ordered restitution of $47.9 million to more than 420,000 consumer accounts. The OCC says the bank unfairly billed customers for identity theft protection products marketed by the bank and sold by its vendor. The restitution ... Read More »

                    Howard Feinmel Sparks Attention of Florida Bar With Mortgage Elimination Arguments

                    Drowning swimmer

                    Florida attorney Howard Feinmel seems to hav in hot waeter according to the Palm Beach Post. Kimberly Miller is reporting the Florida Bar has taken action against Feinmel for his participation with the company the Florida Attorney General went after, Fidelity Land Trust. Fidelity Land Trust was closed by the Attorney General after “charging the company, its operators and affiliate ... Read More »

                      Student Loan Aid – Consumer Complaint – September 24, 2014

                      customer service feedback

                      Update 12-7-2014 The site was contacted by a Shaw T. Scovel who said, “I need someone to call me. I want my named removed from your site. If you don’t I will take legal action.” The person responded with “Shaw Thomas” when I said I could not locate a Scovel on the site. As I told “Shaw Thomas” or Shaw ... Read More »

                        My Ex-Friend Won’t Pay Me What They Owe And I Cosigned

                        angry woman

                        “Dear Steve, A friend asked me to use my house for a line of credit for a rental apartment about 7 years ago. I put in $45000, he put in $10000 his boyfriend paid the closing. We stopped talking two years later, but he took care of it and paid the bills. Till last October. He stopped paying the regime ... Read More »

                          The Debt Collector Said I Will Be Arrested So I Paid a Debt I Didn’t Owe

                          afraid alone

                          “Dear Steve, “I was called about a debt that supposedly I owe I was in a consolidation payday debt agreement and I thought all of them had gotten paid got called about sending the police to arrest me at work. Did not want the embarrassment nor the file on my teaching record, therefore, I paid the debt $1200.00 in two ... Read More »

                            CFPB Recognizes Dangers of Student Loan Debt. Works to Forgive More Loans.

                            cfpb

                            After an announcement today there can be no confusion that the Consumer Financial Protection Bureau takes the dangers of looming consumer debt seriously. I am encouraged by the focused effort by the CFPB to help more students to have their student loans forgiven after ten years. Director Rich Cordray gave a presentation in which he said, “Student loan debt is ... Read More »

                              FTC Bitch Slaps Debt Collection Operation Over Phantom Debts

                              ftc

                              Lately I seem to be getting a bunch of reader questions about debt collectors going after old debts. See this and this. Well the Federal Trade Commission has just announced they have halted the abusive debt collection practices of an operation that used fictitious names and threatened consumers into paying debts they may not have owed. I don’t even need ... Read More »

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