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Home > Author Archives: Steve Rhode (page 6)

Author Archives: Steve Rhode

Working On a Story – Did the CFPB Call and Threaten Your Debt Relief Company?


I’m working on a story about the CFPB calling debt relief companies and saying, “Hello this is ___ from the CFPB calling about an enforcement matter, please call me back immediately.” Companies that are calling back do not have an enforcement matter but are being pitched to register for the CFPB online portal. If your company has received such calls, ... Read More »

    Debt Relief Scammer Banned from Selling Mortgage Relief Services


    A mortgage relief services company and its owner, have agreed to settle allegations that they illegally charged homeowners an up-front fee for help they promised but never provided, and they will be banned from selling debt relief services under a federal court order. The settlement resolves allegations that Wealth Educators and Veronica Sesma falsely promised they could lower consumers’ mortgage ... Read More »

      Another Attorney Runs Into the Connecticut Department of Banking


      You’d think attorneys would avoid issues with the Connecticut Department of Banking, but you’d be wrong. Another attorney has received their unwanted attention for debt relief issues. “MATTERS ASSERTED 1. Pullin Law is a professional corporation organized under the laws of the State of New York with offices located at 7600 Jericho Turnpike, Suite 402, Woodbury, New York; 3075 Veterans ... Read More »

        Where Are the Howard Law Bankruptcy Cases?

        Where did my debt relief company go?

        A court filing by Howard Law and Vincent Howard in the Morgan Drexen v. Consumer Financial Protection Bureau case piqued my curiosity. The filing said, “The range of legal services that Howard Law provides to its clients includes, but is not limited to legal representation in business litigation matters, personal injury matters, consumer protection and class action legal matters, social ... Read More »

          Should I Stop Paying My Private Student Loans Now?

          Businessman trying to solve a maze questions

          Question: Dear Steve, I graduated in 2006 with over $50k in private student loans. After I graduated, Citi wanted $400/month. Unable to make the payments, I went on years of deferment and forbearance as my loan was bought and sold by several banks and lenders. My loan reached a max of $110,000. I am now 10 years removed from college, ... Read More »

            Rescue One Financial Hit with Class Action Suit by Howard Law

            Hello I Am Suing You words on a name tag sticker informing that someone is bringing a lawsuit against you in a court of law

            While working on another article I came across the case below. I’ve written articles recently about debt relief companies and the exposure of Telephone Consumer Protection Act claims. Michael Perri v. Rescue 1 Financial “1. Defendant Rescue 1 Financial, LLC (“Defendant” or “Rescue 1”) is a national financial services company that focuses on consumer debt management such as: debt settlement, ... Read More »

              Is Howard Law a Victim in the Morgan Drexen Case?


              Rather than rehash the relationship between Howard Law and Morgan Drexen, click on the links to their names for the backstory. Recent court documents present an argument by Howard Law that the CFPB action and closure of Morgan Drexen should not involve them or their clients. “When the CFPB initiated the underlying action (the “Action”) against Morgan Drexen, Inc. (“Morgan ... Read More »

                11 Myths About Student Loan Forgiveness

                Illustration of chalkboard with text facts and crossed myths

                If you have more student loan debt than you can handle, or if you’ve been paying and paying (and paying) and can’t make headway, chances are you’ve wondered about student loan forgiveness. As you look into your options, keep in mind that everything you read (or hear — even from your student loan servicer) may not be accurate. We asked ... Read More »

                  Vemma – Another MLM Slammed Shut. Good Products. Bad Business.


                  Promised Unlimited Income Potential, But Most Participants Lose Money At the Federal Trade Commission’s request, a federal court has temporarily halted an alleged pyramid scheme, Vemma Nutrition Company, that lures college students and other young adults with the prospect of getting rich without having a traditional 9-to-5 job. The FTC seeks to stop the operation, which earned more than $200 ... Read More »

                    Walter Ledda, Working as Temp in Poland, Caught By Surprise in Morgan Drexen Case

                    The actual granular data presents a surprising reality.

                    New public documents filed in the Morgan Drexen case paint a picture of Walter Ledda caught by surprise by the turn of events. These excerpts are from the documents shown with the source link. You can click on those documents to read the full original filing. In the first document, Ledda represents the recent CFPB action caught him by surprise. ... Read More »

                      World Law and Orion Processing – Raided – Frozen

                      afraid alone

                      Last week the CFPB raided Orion Processing’s headquarters after obtaining a search warrant. The CFPB filed a complaint last Monday, and obtained a Temporary Restraining Order (TRO) last Tuesday, which was under seal until late yesterday. With the TRO, the CFPB also obtained an asset freeze on all of the defendants’ assets. The defendants include Orion Processing, Derin Scott, David ... Read More »

                        How Can My Husband Get Out of a Spousal Consolidation Loan?

                        Portraits of people thinking

                        Question: Dear Steve, My husband of 19 years was married previously. He and his ex-wife each had a student loan that she combined into one under her SSI#. These loans are from the 1990’s. When he and I married the loan servicer, Sallie Mae, would not split the loan and so payments were sent in separately. In this time frame ... Read More »

                          Morgan Drexen Bankruptcy Update for August 25, 2015

                          Bankruptcy Road Sign

                          As part of the public record, the bankruptcy trustee in the Morgan Drexen bankruptcy has just posted a very interesting update. The document was filed on August 24, 2015 and here is what it says. The Trustee states the Morgan Drexen business has been wound up and 15,000 letters were sent to “Affected Customers” notifying them of the facts surrounding ... Read More »

                            How Can I Make ACS Verify My Student Loan Balance?

                            Magnifying Glass - Q&A

                            Question: Dear Steve, Apparently I have a consolidation loan through ACS for double the original amount. I have another consolidation through AES and that amount is consistent (a bit more because of some forbearances). Original amount about 26K, amount they are claiming over 45K. I have sent several formal requests for ACS to substantiate the loan amount only to receive ... Read More »

                              No Big Changes Seen in Debt Relief Sales

                              Nr. 61

                              For debt relief companies who sell services to consumers with unsecured debt, new data out from TransUnion says demand for debt relief services should remain relatively flat. “The credit card delinquency rate (the ratio of borrowers 90 days or more delinquent on their general purpose credit cards) remained steady at 1.19% in Q2 2015. The delinquency rate was relatively unchanged ... Read More »

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