Home > Author Archives: Steve Rhode (page 4)

Author Archives: Steve Rhode

Avid Reader Needs Loan Help. Or Does He?

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Question: Dear Steve, I’m an avid faithful reader of your newsletter. Ok…….HELP !!!!!!! I am about $40,000 in debt. All I “think” I need is one ” loan” one “payment”. Problem , I can’t get just one loan when asking for an amount to cover this debt. Any suggestions , advice? In the past , I had an account with ... Read More »

We Were Told Bankruptcy is the Best Option for Us

Blue Sky

Question: Dear Steve, We are in about 90 thousand in debt I am 59 my husband 67 he is on SSI and VA income I am the only one working. I been told that bankruptcy is the best for us what do you think. We have a home homesteaded in Florida and one vehicle financed. maybe about 6-7 thousand in ... Read More »

Navient is Reporting Me Late Even Though I’m Repaying My Loans

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Question: Dear Steve, I have about $100,000 in private student loans with Navient (formerly Sallie Mae) I was not able to pay on the the loans and the account went into default after about 7 months of missed payments. In March 2015, Navient offered me monthly payments of $250 at the interest rate of .001% until the balance was paid ... Read More »

I’m So In Debt Because of Harrison College I Need Help

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Question: Dear Steve, Married, mother of 2, 34 years old. Recent graduate of Harrison College via online courses. Upon enrollment at Harrison, I was given the impression that all fees were on par with other area schools which was absolutely inaccurate. I was also never told of the limitations on loans for a bachelor degree, and had to quit before ... Read More »

Will I Be Able to Get a Passport With Student Loan Debt?

Passport with US visa and "admitted" stamps

Question: Dear Steve, I co-signed a federal guaranteed student loan for my son over 15 years ago. Just found out he has not paid a dime on it , now they are coming after me for it.I am going to pay this off, but it will take me some time. Can the government stop me from getting my passport or ... Read More »

FTC and Florida Sue Student Aid Center

Cartoon-OUCH. Vector

On May 23, 2016 the Federal Trade Commission and State of Florida filed suit against Student Aid Center, Ramiro Moris, and Damien Alvarez. The FTC alleges the Florida based company, shocker, took advantage of consumers. The complaint states: “Defendant Student Aid Center, Inc. (SAC) is a Florida corporation with its principal place of business at 2500 Northwest 79th Avenue, Suite ... Read More »

Debt Relief Industry May Have Tough Time Pushing Back Against CFPB Rule

law books

Yesterday I wrote about how the Consumer Financial Protection Bureau (CFPB) is proposing a rule that remove contract clauses on binding arbitration and the prevention of class action suits in debt relief contracts. You can read that article here. If the debt relief industry wants to tamp down or prevent these new rules, someone is going to have to stand ... Read More »

Why Gratitude is the Healthy Secret of Getting Out of Debt

happy woman in wheelchair outdoors beach showing victory sign

Here is something that is an important tool to help deal with problem debt. Debt is soul crushing, mind numbing, and emotionally destructive. It’s easy to get sucked into the dark pit of despair and feel as if your life is hopeless. The secret weapon of those emotional feeling is free and readily available – gratefulness. Instead of being a ... Read More »

Double Standard For Debt Settlement. Not So Sleazy Now, Ask Hilary Clinton, John Glenn and the FEC.

Debt Settlement Companies?

Originally published December 11, 2009 Consumer debt is a world of double standards. On one hand you have advocates screaming about the evils of debt settlements or that groups that charge people for professional help to do debt settlements are ripping off consumers because settling debts is something that anyone can do. Don’t get me wrong, I’m not a huge ... Read More »

How Can I Avoid My Federal Student Loan Wage Garnishment?

Wage Garnishment Concept

Question: Dear Steve, I am 26 with a daughter and a wife and a LOT of student loan debt. I have been paying my private loans on time and am up to date there but until just recently, I was unaware I had a federal loan in default that I was not paying. I failed to make a payment plan ... Read More »

Did My Bankruptcy Attorney Make a Mistake by Not Getting My Student Loans Discharged?

Businessman trying to solve a maze questions

Question: Dear Steve, I was laid off 11/3/2008 with 2 kids in college and the sole financial provider for 3 kids and my wife. I paid every bill on time through June of 2011 despite being out of work the 1st time for 17 months. I filed chapter 7 in July of 2011. I survived by using my retirement accounts ... Read More »

CFPB Proposes New Rules to Prevent Arbitration in Debt Relief

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The Consumer Financial Protection Bureau has published a request for public comment to prevent arbitration clauses from debt relief company contracts. Summary The proposed rule would prohibit covered providers of certain consumer financial products and services from using an agreement with a consumer that provides for arbitration of any future dispute between the parties to bar the consumer from filing ... Read More »

I Don’t Think My Student Loan Company Can Prove They Own My Debt

Proof word stamped on a yellow envelope containing documents as

Question: Dear Steve, I have a student loan that the original creditor who was education finance partners went into bankruptcy and I have been paying my payment to ACS-Specialized servicing company which claims they are servicing the loan for Loan Science LLC. I have asked them to provide me proof that they are the owner of my loan and that ... Read More »

How Can I Get My Federal Student Loan History?

American Bald Eagle on Flag

Question: Dear Steve, All government loans taken out in 1980s. Owed about $30k at graduation. paid off about $20 then went into default. did not hear from them for many years. then in early 2000s recontact and I ended up consolidating now amount of about $60k. I want to check the accounting and get some hopefully knocked out and settle ... Read More »

MD – The Gift That Keeps on Giving

The word assets frozen inside an ice cube

If you thought having VD was bad news, try having a bit of Morgan Drexen (MD). It seems all those who touched Morgan Drexen just keep on losing. The clients were unhappy, the government was unhappy, the CFPB is unhappy, Former CEO Walter Ledda has got to be unhappy, and now the current attorneys managing the remaining clients have had ... Read More »

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