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Home > Author Archives: Steve Rhode (page 691)

Author Archives: Steve Rhode

I’m Afraid I’m Going to Lose My Car in Bankruptcy. – Veta

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Veta “Dear Steve, I’m going to file a Chapter 7 bankruptcy and I would like to keep my car but I might not have enough exemption. Even if I do the judge may not allow me to reaffirm the car loan because the payment is so high. So I don’t know if I should keep making the payment on it ... Read More »

    I Have a Loan Through Bank of America and I’m Going to Declare Bankruptcy. – Nick

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    Nick “Dear Steve, I have a Loan through Bank of America and the APR IS 15.99%!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!, I am going to declare bankruptcy soon if this isnt lowered. Can you Lower my APR? Nick” The Answer   Dear Nick, These days 15.99% isn’t a bad interest rate on a credit card, But you didn’t say what kind of loan this was. ... Read More »

      Your Quickies For the Day

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      When I need a break from answering questions I often take a look for some odd or interesting search terms that people used to find me. Below are some of the latest I saw today that I wanted to provide quick answers to. Steve Search Terms gift card giving – Be carful giving gift cards from any retail store these ... Read More »

        The Autumn of Mortgage Lender Abuse

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        Center & Plaza, originally uploaded by Brad Gillette. Today a very important announcement is going to come out from the government with a plan to help people have at least a chance of dealing with the foreclosure mess, upon us, and to come. If we are lucky, the announcement will carry a provision allowing bankruptcy judges to have some input ... Read More »

          My Visit to the Local Food Bank to Learn About How to Feed the Hungry

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          So where do you turn when you are hungry and can’t afford to feed yourself or your family? Maybe a food bank is something to investigate. This morning I had the pleasure of visiting the Food Bank of Central & Eastern North Carolina in Raleigh. Christy, an exuberant representative, gave me the grand tour of the facility and helped me ... Read More »

            Apparently People In Debt Don’t Find Love, Unless You Find Another Debtor

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            Well apparently CNN is struggling to find some breaking news so a crew was available to do a story on dating and debt. It’s worth a look. Embedded video from CNN Video Read More »

              Getting The Boot

              The Boot, originally uploaded by Steve Rhode. For some reason I seem to keep my photography life and debt advice life in two separate compartments. Yet much of my photos have grown out of the angst and pain that my debt advice brings me. Here is a good example. I just saw this lone boot, left in the back of ... Read More »

                Let NASCAR Help You Eliminate Your Credit Cards and Get Out of Debt

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                Everyone has a hobby. For some it is shopping, collecting or something else that causes money to leap out of your pocket. And when getting out of debt, that’s not what you need or want. But you know there are a lot of things you can do to keep yourself busy that don’t cost a single additional penny and can ... Read More »

                  Banks, Wall Street, and Mortgage Companies Screwed Consumers And Now Want to Leave You Hanging

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                  I just watched the CNBC special “House of Cards” about the inside of the mortgage industry, rating agencies and the Wall Street banks that pumped loans to consumers that they knew people could not afford. And now that we are faced with a national foreclosure crisis, the very same banks and lenders now won’t workout arrangements to allow people to ... Read More »

                    I Have Several Credit Cards That I Haven’t Been Able to Pay On. – David

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                    “Dear Steve, I have several credit cards that I haven’t been able to pay on, I am currently paying on one of them, Im just now starting to get calls from lawyers for collection. My wife and I also have a time share that we havent been able to use let alone afford, we havent made payments on that either. ... Read More »

                      Mortgage, Bankruptcy, Nonsense

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                      Not that long ago I wrote again about the pleas from banking to not allow bankruptcy judges the authority to modify mortgages, in limited situations, to allow people to stay in their homes and avoid foreclosure. See “Mortgage Bankers Association. A Bunch of Whiny Bitches?“. Today an article in the Wall Street Journal has got me going again. Todd Zywicki ... Read More »

                        I Don’t Have a Job to Pay My Debts. What Should I Do? – Reanna

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                        Reanna “Dear Steve, I don’t have a job and I am currently 1,000 dollars in debt with my bank and credit card. I owe 500 dollars to each. What should I do? Reanna” The Answer   Dear Reanna, I’m thinking that getting a job would be the right answer here. If you were making an effort and still not able ... Read More »

                          I Just Needed to Laugh

                          Living through money troubles and debt is stressful and depressing. I’ll never forget my days in the pits of debt hell. Ironically I seem to live those emotions every day when i answer your questions. I’m too much of a softy, I still feel the pain and have compassion for all in trouble. But luckily when it gets to be ... Read More »

                            Are Muzak and Sirius XM Radio, Better Than You?

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                            I was reading the latest news about the bankruptcy filing of Muzak, the elevator music people, and the new merged company of Sirius XM, the satellite radio people. Sirius XM has not filed Chapter 11 bankruptcy just yet but it looks like they will any day now. It has always struck me as odd that we applaud business for using ... Read More »

                              What is the Damage to Our Credit Report if We Settle a Debt for Less Than the Full Amount? – Lara

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                              Lara “Dear Steve, My husband and I have over $45,000 credit card debt. Our income has been seriously reduced by about 65% lately. We are thinking of best ways to reduce debt amount or get payment plans over a period of 5 years. If the creditor decides to accept to settle the debt for less it will appear as settled ... Read More »

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