Home > Author Archives: Steve Rhode (page 6)

Author Archives: Steve Rhode

CT Goes After Bobby Blackmon and Financial Help Services

Hand holding magic wand with sparks attracting money from top hat. Success wealth trick lie deception fraud cheating magic fast money concept. EPS 10 vector illustration no transparency

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

        Profile Portrait of a Bald Eagle Against  a Black Background

        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

            Incentive trap and corrupt leader business concept as a group of people running towards a carrot tied to a liar nose only to have been tricked and fooled into fall off a cliff as a metaphor for entrapment or bait trapping in a risky economy.

            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

              angry woman

              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

                buying car

                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 »

                  I Defaulted Again on My Rehabilitated Student Loans. Now What?

                  Problem Solving Series

                  Question: Dear Steve, I just got word from my employer that they will be garnishing my wages due to unpaid student loans. This is the second time this has happened to me. I went through the rehabilitation process the first time but was told at that time this you can only be eligible for that once. I also did not ... Read More »

                    Monopoly Ditching Fake Money for Fake Credit Cards

                    Bob Sullivan just published a great piece on the elimination of paper money from the game Monopoly. But is that really the worst thing to happen? Sullivan says, “In other words, there is little evidence that Monopoly, the game, was doing a bang-up job of teaching kids how to handle money.” He’s right. I can’t imagine the number of hours ... Read More »

                      Why REPAYE is Such a Horrible Student Loan Repayment Option

                      Drowning swimmer

                      The Department of Education recently launched the much awaited new federal student loan income based repayment option REPAYE (Revised Pay As You Earn). They should have named it WTF. While the program gives some consumers additional options, it is a complete miss for those wanting to get beneficial relief, especially if they are married or ever plan to get married. ... Read More »

                        Can U.S Hardship Group Really Eliminate My Private Student Loan Debt?

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                        Question: Dear Steve, I have a question. I have defaulted on many of my private student loans. I had been making payments but the payments were so high I wasn’t able to make as much they wanted so they defaulted. I came across a company called US Hardship Group. They seem very reputable through BBB (A+ rating) and I have ... Read More »

                          FTC Brings Action Against Debt Relief Operation that Targeted Financially Distressed Homeowners and Student Loan Borrowers

                          ftc

                          The Federal Trade Commission has charged a debt relief operation with falsely representing to financially distressed homeowners and student loan borrowers that it would help get their mortgages and student loans modified. At the FTC’s request, a federal court has temporarily halted the operation. The agency seeks to permanently stop the alleged illegal practices and obtain refunds for affected consumers. ... Read More »

                            CFPB Orders Citibank to Provide Relief to Consumers for Illegal Debt Sales and Collection Practices

                            201509_cfpb_credit-card-chips-blog

                            WASHINGTON, D.C. – The Consumer Financial Protection Bureau yesterday took two separate actions against Citibank for illegal debt sales and debt collection practices. In the first action, the CFPB ordered Citibank to provide nearly $5 million in consumer relief and pay a $3 million penalty for selling credit card debt with inflated interest rates and for failing to forward consumer ... Read More »

                              Seila Law – Williamson & Howard – Debt Settlement Strangers?

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                              The court battles drag on in the ex-Morgan Drexen case that subsequently involved successor law firms and attorneys. Specifically, Vincent Howard, Howard Law, Lawrence Williamson, Williamson & Howard, and the Williamson Law Firm are still battling the Consumer Financial Protection Bureau (CFPB). The CFPB thinks these people should be held in contempt and pay monetary sanctions for some ongoing issues. ... Read More »

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