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Home > Author Archives: Steve Rhode (page 34)

Author Archives: Steve Rhode

CFPB Pulls DriveTime Over and Slaps Them


The Consumer Financial Protection Bureau (CFPB) today took its first action against a “buy-here, pay-here” car dealer. The dealer, DriveTime, harmed consumers by making harassing debt collection calls and providing inaccurate credit information to credit reporting agencies. DriveTime must pay $8,000,000 as a civil money penalty, end its unfair debt collection tactics, fix its credit reporting practices, and arrange for ... Read More »

    FTC Stops Free Credit Score Bullshit


    The Federal Trade Commission has stopped an online scheme that allegedly lured consumers with “free” access to their credit scores and then billed them a recurring fee of $29.95 per month for a credit monitoring program they never ordered. The three companies have agreed to pay $22 million for consumer refunds under a settlement with the FTC and the state ... Read More »

      How Can I Transfer My Parent PLUS Loans to My Son?

      Signs, Road Stencils

      “Dear Steve, I have several parent plus loans that I took out for my sons college. He also has some stafford loans. I am now concerned of the amount of loans I have under my name. I have three other children who will be attending college, and was hoping to buy a house in the next five years. He and ... Read More »

        My Husband is a Disabled Vet and the Student Lenders Are Coming After Us


        “Dear Steve, My son has 2 Government Student Loans(Sallie Mae & NelNet). He is paying over $300.00 on each one, but they want $816.00. My husband is a Disabled Vietnam Veteran and now the loans are coming after us. They want to garnish his pensions of the difference in payment. I do not work cause I take care of my ... Read More »

          Her Husband Died and the Lawyer Threatened to Take the House


          “Dear Steve, Friends husband died from cancer and failed to show up at court hearing for collection suit on credit cards. After his death, collection agency(said they were an attorney) threatened to take her house if she didn’t pay off his debt. This debt was incurred before they got married and he carried into the marriage without telling her about ... Read More »

            HDRP Approval Department Mailer


            An amazing reader, Roger, sent in a new debt relief mailer through my I Buy Junk Mail program. This mailer is nearly identical to another one I covered here. The only differences are the name on the outside of the mailers, from HDRP Funding Department to HDRP Approval Department, and the phone number. The postal permit is 507 out of ... Read More »

              I Have an Old Bally Fitness Debt I Was Sued Over.

              law books

              “Dear Steve, I had signed a contract with bally total fitness in the state of California in 2004. I stopped going to the gym without paying the cancelation fees. So they sold my unpaid account to a collection agency. This last one sued me in 2009 and won by default because i never showed to the courthouse. The collection agency ... Read More »

                How Do I Stop My Student Loan Wage Garnishment?

                Magic Mushrooms

                “Dear Steve, My check is getting garnished until dec 17th after that they said i can make a payment arrangement and they will send out another garnishment can i tell them what i can pay a month or do they tell me what to pay? Viola” Dear Viola, There are two ways a paycheck could get garnished. The first is ... Read More »

                  Should I Consolidate My Student Loans Into a Variable Rate Loan?


                  “Dear Steve, I graduated in 2008. I’m still paying down student loans, often more than the minimum payment. I have a mix of private and federal loans at varying interest rates. Would consolidating my student loans into a loan with a variable interest rate be beneficial? How long will the interest rate likely remain low? Is there anything in particular ... Read More »

                    Top 10 Reasons You Should Stop Paying Your Unaffordable Private Student Loan

                    What I most want you to do when facing bankruptcy is to stop assuming or reacting emotionally and start thinking logically.

                    Right now if you have federal student loans there are good options to help lower or eliminate your monthly payment. To see those options, click here. But what about when your private student loan lender won’t work with you. What are your options? Well one of the options is to stop making payments on that unaffordable student loan. If the ... Read More »

                      I Got Married and My Husband Got Laid Off

                      beautiful girl on stool with laptop

                      “Dear Steve, I’m working full time and earning 46k annually. I got married this past spring and then my husband was laid off in June. His unemployment benefits are lower than his previous income and he is missing due dates every other month. We have barely been married long enough to merge bills but I’m scared because he already has ... Read More »

                        I Don’t Want My Student Loans to Hurt My Credit Report

                        Businesswoman leaving office after being laid off carrying box o

                        “Dear Steve, I owe $17,000 on my student loans. I have been able to make the payments each month, but I just learned that I will be soon losing my job. I don’t have an emergency fund and I will not collect enough on unemployment to make the payments with my other expenses. What is the best course of action ... Read More »

                          Student Loan Service Managers Consumer Agreement Review

                          kiten hiding

                          “Dear Steve, Can you look over this agreement Student Loan Service Managers Sent Me? Anonymous” Dear Anonymous, I’m happy to look over the agreement for you and give you some feedback. Keep in mind I am not a lawyer and can’t provide you with any legal feedback. All I can do is read it like a friend and point out ... Read More »

                            I’m Willing to Go Back to Dubai to be Arrested Over My Debt


                            “Dear Steve, I had been living in Dubai for nearly 8 years and maintained a great job and income. Whilst there, my ex wife and I also brought a property and eventually sold the property after the recession hit. All in all, had never been in any trouble or debt. I then took out a C.Card with FGB and after ... Read More »

                              My Federal Student Loan Payments are Getting Tougher to Make


                              “Dear Steve, I have 11 federal student loans totaling just over $55k. (DI Special subcns, DI Special UnSubcns, Stafford subcns, and Stafford unsubcns loans) see attachment These are loans for my undergraduate & graduate degree. To date, I have not been delinquent in any fashion. Also, I have a good credit score rating, over 730. I have found it more ... Read More »

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