Latest Posts
Home > Author Archives: Steve Rhode (page 40)

Author Archives: Steve Rhode

EFA Processing Signs Consent Order

Screen Shot 2013-11-05 at 3.31.13 PM

The State of Connecticut has just entered into a consent order with EFA Processing and Ken Talbert over debt relief help offered to State residents. According to , EFA Processing “voluntarily agrees to consent to the entry of the Consent and Agreement described below without admitting or denying any allegation or any claim contained in the Order and Notice and ... Read More »

    Tell Me About US Student Loan Services

    begging

    A new debt relief company selling student loan debt help has come across my desk. I’d love to hear from you if you’ve used their service or have been through the sales presentation. The company is US Student Loan Services and is on the web at usstudentloanconsolidation.org. When new companies like this appear I’m really interested in your feedback on ... Read More »

      Why Debt Relief Help is Broken in America

      terrifying man

      Being in debt is a terrible situation. You are at your lowest moment in life or darn near close to it. On top of that you may be experiencing the common side effects problem debt brings like depression, hopelessness, feelings of failure, or marital strife. The one point most can agree on is being in debt is not a happy ... Read More »

        Loan Modification Debt Company Owner Sentenced to Prison

        Screen Shot 2013-11-02 at 4.30.47 PM

        Ian Kideys, 40, of La Jolla, California was sentenced to five years in club fed for his role in K2 Capital Management, U.S. Mortgage Bailout, and iLoanAudit. Shocker, a loan modification company owner found guilty of fraud. According to prosecutors, “US Mortgage Bailout obtained some mortgage relief for its customers through fraudulent representations to lenders, but otherwise simply collected money ... Read More »

          CFPB Publishes Advice if You’ve Given Someone Power of Attorney Over Your Money Matters

          Screen Shot 2013-10-31 at 1.48.41 PM

          The Consumer Financial Protection Bureau (CFPB) has recently published guidance that appears to have a direct connection to debt relief companies that manage the finances of others using a Power of Attorney (POA). I frequently see these types of relationship between consumers and debt relief companies, like settlement companies, and now more student loan assistance organizations. While the guidance in ... Read More »

            Big Changes Coming for Those Struggling with Federal Student Loans

            student loan default

            Let’s get the bad news out of the way, none of this good news in this article applies to private student loans. When it comes to private student loans my advice remains the same as it has been, avoid them like the plague. But for federal student loan holders as of July 1, 2014 a big change is being made ... Read More »

              I’m a Kindergarten Teacher With $100K in Student Loans

              College Tuition Expenses

              “Dear Steve, I went to a private, out if state, christian college and I am not a kindergarten teacher. I currently have over $100,000 in both federal and private loans all from Salliemae. I’ve been looking for the past 3 years (since I started paying my loans off) for a way to fix this problem. I’m paying over a $1,000 ... Read More »

                Reader Want to Know if Performance Settlement Recruitment / Sales Claims are True

                Screen Shot 2013-10-30 at 11.49.06 AM

                A reader and tipster (send in your tips here) in the debt settlement industry sent us an email they recently received from Performance Settlement, an AFCC member. The email made some recruiting performance claims that should be a snap for Performance Settlement to respond to and verify. This issue isn’t so much a consumer issue foremost but an issue to ... Read More »

                  Debt Relief Company Officers to Face More Personal Liability From CFPB

                  stressed man

                  Indications out of the CFPB are that the agency plans to go after individuals in enforcement actions and not just companies. “In a speech last week to the Reuters Washington Summit, Director Cordray is reported to have indicated that the CFPB is committed to pursuing individuals, and not just companies, when exercising its enforcement authority.” The same report stated that ... Read More »

                    Bankruptcy Filings Plummet in Three Years

                    Screen Shot 2013-10-25 at 2.10.06 PM

                    As further evidence about the decreased demand for debt relief help, the United States Courts have just released the latest statistics which revel the number of non-business bankruptcy filings. According to the year end September 30th data the number of consumer bankruptcies fell 31 percent from the same period in 2010. Current filings, for the last twelve months, were 1,072,807 ... Read More »

                      AFSLR Growing. Adds American Student Loan Consolidators.

                      Screen Shot 2013-10-25 at 1.30.51 PM

                      The trade group, Association for Student Loan Relief (AFSLR) has added a new member according to the group. American Student Loan Consolidators has been recently added as a member. – Source It appears American Student Loan Consolidators is an outgrowth of Upbin’s formerly religious debt management activities as Christian Credit Counseling Center. According to CorporationWiki, “Daniel Upbin is the Managing ... Read More »

                        My Addictions Have Left Me Broke and Hopeless. – Jane

                        Drowning swimmer

                        “Dear Steve, I don’t know where to start. I am an alcoholic and a drug addict. I got sober when I was 25 years of age. I had no education or skills. I went on welfare. I went to college after that and obtained a professional degree and license. I also met my husband and had two sons. I had ... Read More »

                          Fake Payday Loan Collectors Halted by Court

                          ftc

                          At the request of the Federal Trade Commission, a U.S. district court has halted an operation based in Atlanta and Cleveland that allegedly used deceptive and threatening tactics to collect phantom payday loan “debts” that consumers either did not owe, or did not owe to the defendants. The court order freezes the defendants’ assets to preserve the possibility of providing ... Read More »

                            Mortgage Counseling Center of America Asked to Get the F Out of Connecticut

                            Screen Shot 2013-10-24 at 9.09.03 AM

                            The State of Connecticut has taken action against yet another debt relief company, this time asking Mortgage Counseling Center of America to take a hike or get a license. Mortgage Counseling Center of America also goes by the name Mortgage Counseling Center and operates with Edward Albert Bauman, Jr. The State says the company is located at 23785 El Toro ... Read More »

                              The National Consumer Hardship Program Mailer

                              img_20131022_084354

                              Well it looks like possibly misleading debt reduction mailers are still being sent out by that old postal permit 1297 in Sacramento, California. This one is for something that looks like a government check when you glance at it from the outside. The mailer is really for something called The National Consumer Hardship Program. And the fake check even goes ... Read More »

                                Get My FREE Get Out of Debt Guy Newsletter

                                It is the smart thing to do.

                                I promise to keep your email safe and secure.

                                Close

                                I want to keep you posted each weekday with just one email about the latest get out of debt news, scam alerts and information to beat back debt.

                                You can unsubscribe at any time with just one click.

                                After you subscribe, check your email to confirm your subscription. If the confirmation email does not appear in your inbox in a few minutes, check your spam folder for it. Sometimes it likes to annoyingly hide there.


                                • It will keep you posted on the latest scams.
                                • You will be alerted to the latest articles.
                                • You will wind up smarter than everyone else dealing with debt.