Home > Author Archives: Steve Rhode (page 5)

Author Archives: Steve Rhode

The Borrower Defense Pothole That Will Swallow Many Trying to Forgive Student Loans

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The Federal Trade Commission recently put out advice advising student not to pay for help in submitting a claim to have all of their federal student loans forgiven due to fraud. This fraud issue is one where many people could actually have all of their federal student loans forgiven. See my recent article on this here, here, here and here. ... Read More »

    I Paid Off My Student Loan But My Tax Refund Was Captured

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    Question: Dear Steve, Back in 2011, I paid off my student loan in full for $10,152. I had purchased a money order at United States Post Office. I received a settlement of close to $100,000 at that time in March 2011. I wanted to pay off my loan so I wouldn’t have to think about it again. Now forward 5 ... Read More »

      Debt Relief Scammer Denny Lake Folds to the FTC

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      The following legal action by a debt relief industry entity, should serve as a good example of the tie that binds both affiliates and marketers and the company who is providing the service. Denny Lake, the final individual defendant in a mortgage modification scam aimed at financially strapped homeowners, will be banned from selling debt relief and mortgage-related products and ... Read More »

        Should I Not Bother to Call My Student Loan Collector?

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        Question: Dear Steve, So, when I was 18, I went to ITT Tech. I got in debt with them and eventually had to drop due to failing grades. So, I owed 2 different types of loan, a federal and a private loan. The private loan was 15000 at the time I was 18, because I was only working part time, ... Read More »

          I Just Received a Mail Piece Regarding Student Loan Relief…Is It Legitimate?

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          A hat tip to the Association for Student Loan Relief for sending in this guest post. Introduction The student loan burden currently facing our country is much larger than most people realize. As of July 1, 2015 there were approximately 37.1 million Americans with outstanding student loans with an aggregate face value of around $1.1 trillion. Of those it is ... Read More »

            How Can I Go Back to College When I’m Behind on My Loans?

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            Question: Dear Steve, I never fully understood the who applying to college process when I was in high school. My guidance counselor basically told me apply to a college, use grants and scholarships and if your unlucky use your guardians/parents and/or loans. I didn’t even know how to find the college for me or apply. I was born in America ... Read More »

              Nasty Letter Fools People With Student Loan Debt

              Oops! What Is It?

              A very kind reader sent me the following letter they received and they wanted to know if the government was really going after them. After all, they didn’t have any past due student loan debt. The mailer below raises a number of issues. Probably the most important is the appearance can easily confuse people this is official communications from the ... Read More »

                CT Goes After Bobby Blackmon and Financial Help Services

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                It appears the ever vigilant and on-the-ball Connecticut Department of Banking was searching for Bobby Blackmon and Financial Help Services, Inc. The State says, “on November 23, 2015, the Order and Notice was sent by certified mail, return receipt requested, to Respondent (Certified Mail Nos. 70143490000235259701 and 70143490000235259718), and to its registered agents Business Filings Incorp (Certified Mail No. 70143490000235259725), ... Read More »

                  My Life Didn’t Turn Out Like My Student Loans Wanted

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                  Question: Dear Steve, I attended a private college and felt super confident I’d have no issues finding a job after college with an AA, because of everything I was told at the school. I had a difficult time finding a job, I had to return to my old job, which had NOTHING to do with my degree. I then learned ... Read More »

                    I’m a Teacher. How Can I Lower My PLUS Loan Payment?

                    Decision time

                    Question: Dear Steve, My student loan (originally taken out for my children) is now owned by the government and administered by fedloan.gov. The loan is in my name alone — my wife is not on the loan. 1. Does filing separately exclude my wife’s income from consideration in an IBR? When I started with fedloan.gov my payments were $0, but ... Read More »

                      I’m so Stressed Over Having to Pay the IRS

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                      Question: Dear Steve, I’m a very long time followers and you’ve helped me out numerous time both in answers to my direct questions as well as the general information. And I was hoping for one more time. This is not directly about debt and I’m hoping to keep it this way as you will see below. Hopefully you can help ... Read More »

                        How Did These Debt Relief Marketers Get My Information?

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                        Question: Hey Steve, Just saw your page here and wanted to ask you a question about a similar problem I’ve been having. Since I got a high limit credit card, I notice that periodically I’ll receive letters like this with NO company name or address, yet with all my personal details (first name, last name, ball-park debt amount, and address). ... Read More »

                          Even More Sophisticated Students Claim They’ve Been Scammed by Colleges

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                          I’ve been drolling on about schools misleading students or at least not telling them the full story about the value of their degree before enrolling them and taking their money. And I still say students with federal student loans who have been misled by their schools to enroll, have a way to deal with discharging their loans. Read “Door Prepares ... Read More »

                            I Want the Department of Education to Get Their Sh*t Together

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                            Question: Dear Steve, I am not sure exactly who to direct this issue to, therefore, if you are not the correct person/dept, please advise. Well Over 20 years ago I took a student loan through the Department of Education to attend college. If I recall I made payments for some time after graduation in 1988. When I began teaching in ... Read More »

                              New Car Prices and Payments Set Records

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                              Experian Automotive announced that the average amount financed and the average monthly payment for a new vehicle continued to climb, breaking the previous records on file. According to its latest State of the Automotive Finance Market report, the average amount financed for a new vehicle in Q4 2015 was $29,551, up $1,170 from Q4 last year, and the average monthly ... Read More »

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