Latest Posts
Home > Author Archives: Steve Rhode (page 7)

Author Archives: Steve Rhode

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 »

            Helping America Group – You Used Them Yet?


            I just published a post where I took a look at recent job postings. The post mentioned a debt relief company I was not familiar with, Helping America Group. It appears the company is a recently converted corporation to an LLC and the contact person for the company is Jeremy Marcus. – Source The company says, “We are a risk ... Read More »

              Recent Job Postings for Debt Relief Experience


              Here are some current job posting in the debt settlement industry that I found. Student Zoom Debt Settlement Sales Representative Student Zoom, LLC – San Diego, CA $1,600 a month Hello, We’re looking for a highly motivated salesperson with experience selling Debt Settlement preferably through Freedom Debt Relief or DMB. Our ideal candidate is someone who enjoys helping others, is ... Read More »

                Who is Prospectus Financial in Boca Raton, Florida?

                Adult Ed - Questions

                I received an email from a tipster (send in your tips here) about some company named Prospectus Financial in Boca Raton, Florida. I was unable to locate a website for the company but I did located job postings for Debt Resolution Specialists. – Source It is hard to interpret exactly what Prospectus Financial is offering but it sounds as if ... Read More »

                  Andris Pukke From Ameridebt Still Dealing With Courts

                  Andris Pukke

                  A tipster (send in your tips here) mentioned something about Andris Pukke still dealing with his criminal case filed by the United States in 2010. Pukke, as you may remember, was charged with crimes related to his debt relief activities and wound up eventually serving jail time. You can see the back history if you click this link. FYI, it ... Read More »

                    Howard Law Responds to CFPB Claims


                    Recently I wrote about filings by the Consumer Financial Protection Bureau (CFPB) in the Morgan Drexen case. The CFPB said, “Aside from going to great lengths to continue Morgan Drexen’s debt relief scheme and collect fees from Affected Consumers, the Attorneys engaged in numerous tactics designed to ensure consumers would—at a minimum—be confused about their rights, if not misinformed.” – ... Read More »

                      And Oh How They Fall: Advanced Fee Attorney Model Debt Settlement Companies

                      Fallout Shelter Sign

                      Yesterday I posted an update about how World Law, World Law Debt, World Law Group, or whoever they were at the moment; is being liquidated. You can read the details here. The latest closure of the advanced fee debt settlement company by regulators, legal action, or the courts has to make some think the model is doomed to fail and ... Read More »

                        World Law Debt Forced to Liquidate in Bankruptcy

                        Screen Shot 2015-08-22 at 8.37.30 PM

                        A tipster (send in your tips here) told me that things turned dire at World Law Debt last week. Apparently their Chapter 11 bankruptcy reorganization was forced into a Chapter 7 liquidation after an application to the court by the Oregon Department of Justice because a number of problems the debt settlement company faced. For years World Law has been ... Read More »

                          Morgan Drexen Bankruptcy Surprise Deposition


                          It’s not often that a deposition is made available regarding Morgan Drexen, the now defunct debt settlement company. Since I’m sitting down to read the entire 121 page document I thought if I came across anything I found interesting for no particular reason, I’d just share it with you. All the material below comes from this document. The deposition conducted ... Read More »

                            Morgan Drexen Court Action Reads Like a Soap Opera


                            In just the past few days the Morgan Drexen case with the Consumer Financial Protection Bureau took some strange twists. The court documents lay out a series of alleged events which paints an unusual story. I’ll let the court documents write this story. From this point on, the information in this story will be from these recent court documents which ... Read More »

                              Howard Law Demands Removal of Morgan Drexen Related Articles

                              Screen Shot 2015-08-20 at 6.09.51 PM

                              Today I received the following demand from a law firm that says it represents Howard Law, another law firm. I’m not sure why Howard Law wouldn’t just contact me directly to clear up any confusion or answer questions instead of sending me a cease and desist letter. I contacted Howard Law by email previously but never heard anything back. In ... Read More »

                                Get My FREE Get Out of Debt Guy Newsletter

                                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.

                                I promise to keep your email safe and secure.