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Home > Author Archives: Steve Rhode (page 80)

Author Archives: Steve Rhode

I’m a Real Estate Agent and Facing Bankruptcy – Kelly

Disaster comes when we least expect it. There is no good time for a financial tornado.

“Dear Steve, My husband and I have been down the bankruptcy road and it was discharged. I am embarrassed to say that only eleven years after the discharge, we are now possibly having to consider filing again. We have one child and my husband makes $75,000 a year. I work as a Realtor but pay has been slow and I ... Read More »

    Army Soldier Wants to Fix His Credit After a Messy Divorce

    Meeting with Pusht-e Rod leadership

    “Dear Steve, 26yr old Army soldier trying to fix credit after a messy divorce a few years back. I was deployed, she decided to leave, and stopped paying on just about everything that was in my name without my knowledge. Upon my return, I joined “” to continuously monitor my credit and my debts, and I contacted and paid and/or ... Read More »

      NoteWorld / Meracord Loses Arbitration Agreement With Court

      Shocked Face

      An interesting development in the NoteWorld / Meracord world and a court case involving an arbitration agreement. The Ninth Circuit Court of Appeals heard the case between Amrish Rajagopalan and NoteWorld. Apparently NoteWorld tried to rely on the arbitration agreement the debt settlement company had in their agreement to compel this situation out of court and into arbitration. According to ... Read More »

        Those With Cancer Nearly Three Times More Likely to File for Bankruptcy

        Cancer patient versus non-cancer patient filing rates.

        A recent study found adults diagnosed with cancer are 2.65 times more likely to file for bankruptcy while bankruptcy filings are as much as five times higher among your cancer patients. According to the study, led by Scott Ramsey, MD, PhD, an internist and health economist at the Fred Hutchinson Cancer Research Center in Seattle, Washington, between 1995 and 2009 ... Read More »

          Home Owners Advocacy Group – Contract Review


          A reader sent in a contract with Home Owners Advocacy Group they had recently signed for some sort of mortgage assistance of foreclosure avoidance. I am now a lawyer. What follows is my opinion of different sections of the agreement in an effort to help readers better understand what to look for and what it means. If you have a ... Read More »

            Consumers Defaulting Less on Debt Says New Data

            Screen Shot 2013-05-21 at 11.18.10 AM

            New data out from S*P and Experian says consumers are doing a better job paying their bills. The national composite of consumer defaults hit its post-recession low of 1.42% in April, down from 1.50% in March. The first mortgage default rate moved down to 1.31% in April from 1.41% in March. The auto loan default rate posted a 1.07% rate ... Read More »

              Student Debt Kills Dreams


              The amount outstanding on student loan debt continues to increase past the point it blew the roof off how much people owe on all credit card debt. Imagine, people owe more in student loan debt which is nearly generational debt. In most cases it can’t be discharged in bankruptcy and with parents and grandparents co-signing for some of these loans ... Read More »

                Sinbad Files Chapter 7 Bankruptcy. Will Keep F-150 Pickup Truck.


                The comedian Sinbad recently filed for Chapter 7 bankruptcy protection. Hey, it happens to even the famous among us. Money troubles are not limited to the infamous. They happen to many of all walks of life. According to documents received, Sinbad (David Adkins) has liabilities of $10,991,715 and assets of $131,126. While there may be some areas of his life ... Read More »

                  Get Out of Debt Guy Support Group First Virtual Meeting

                  Google Hangout

                  We made it through the first virtual debt support group meeting on Google Hangout. As expected, attendance was light, but the technology test went fine and the concept show a lot of promise for future meetings. Michael Bovee and I spent quite a bit of time talking about debt and religion, Jesus, spirituality, tithing, student loan debt, using bankruptcy to ... Read More »

                    Mass Joinder Leader Mitchell Stein Found Guilty and Behind Bars for Years

                    mans hands behind bars in jail or prison

                    A tipster just let me know that Mitchell Stein, the California attorney who was leading the charge selling consumers access to lawsuits to sue their lenders in a mass joinder action, was taken into custody today in court when he was found guilty on 14 counts in Florida today. Here is what the tipster said, “Mitchell J. Stein (Spire Law ... Read More »

                      Why is My Ex-Husband Not Responsible for This 1099-C From the Repossession?


                      “Dear Steve, Divorced single mom of three. The IRS held my last years refund of $9000.00. I finally asked them why and they said I failed to file a 1099-C from a 2006 repossesion and the vehicle was awarded to my ex in the divorce. The amount on the 1099-c is 10,300.00. I can’t afford to amend the return and ... Read More »

                        We Have Some Items On Our Credit Report We Want Removed – Lisha

                        No problem

                        “Dear Steve, We started to have troubles making payments. Did Bankruptcy. Trouble again and we re-fied our house not once or twice about 4! Took a 2nd out… Around and around sprial…. husband lost his job. Lost house. Moved out of state and did Bankruptcy AGAIN! It was bad decision after bad. And it was all in thinking we were ... Read More »

                          FTC Catches Bogus Tech Support Scam and Then Finds a Debt Relief Company


                          The Federal Trade Commission announced a settlement over a bogus tech support service and accidentally found a debt relief company that was violating the Telemarketing Sales Rules in the process. Mikael Marczak, doing business as Virtual PC Solutions, and Sanjay Agarwalla were among the subjects of a series of six complaints filed by the FTC last September as part of ... Read More »

                            Are All Student Loan Assistance Companies a Scam?

                            Business Meeting

                            “Dear Steve, I am a bankruptcy attorney and looking to provide services to those with student loan problems, as well. You appear to believe most or all companies that help you with student loan issues are scams. Do you think there is any student loan service that can be provided to the public that is not a scam? I genuinely ... Read More »

                              3 Car Buying Financial Potholes to Avoid

                              buying car

                              Buying a car is a very expensive proposition. Besides buying a home – buying a car or truck is typically the second largest asset people purchase. And those car payments can really add up to a budget buster if you are not careful. There is no need to wind up paying more than you have to. When going to buy ... Read More »

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