Articles revolving around debt related issues. These are geared towards advice for consumers and general debt news.
Most of us know that you can apply for grants and scholarships to help offset the cost of college, but can you get a grant to pay off student loans once you’ve already graduated? In short, kind of! Whether you didn’t get enough financial aid or simply bit off more than you could chew repayment-wise, … Read more
Navient has announced federal student loans they service, well not all of them, will be transferred to a company named Aidvantage that is part of Maximus Education, LLC. Aidvantage Student Loans Navient says, “Aidvantage is the federal loan servicing unit of Maximus Education, LLC, a company that has one mission – to help you manage … Read more
I was sent the audio of a debt relief call with a settlement agency that would be recognized if I identified them. The caller in this case asks some very good questions when it comes to fees. You can listen to the call below or here. This company makes the pitch later in the call … Read more
I just saw a Houston Texas TV story about Suzanne Black, an elderly 70 years old woman involved with a nonprofit debt management company, Money Management International. She paid $63,000 over the last five years with their help to get out of debt. While this may sound all fine and good on the surface, I … Read more
When we go on vacation, most of us sleep late, basking in the luxury of rising in the morning whenever we wish. Then our vacation ends, and we have to set our alarm clock again. And we find it damned difficult to pop out of bed at 6 AM to get to work on time. … Read more
Mortgage preapprovals more than 3 months old are generally considered out of date, but letters can last as long as 180 days. Depending on how long your search is, you may need to renew it more than once before closing on a home. Having a letter of preapproval from a financial institution can help ensure … Read more
Question: Dear Steve, $35,000 has been collected on my $20,000 student loan debt, and none of it has been applied to the principal only to interest. You told me that “if the mandatory amount garnished is insufficient to cover the interest owed each month, then no payment would be applied to the underlying principal amount.” … Read more
Purchasing a home may be the biggest financial commitment you’ll ever make, so it makes sense to carefully consider the upsides and downsides of buying vs. renting. Stay tuned for a quiz that might help you decide. Rent or Buy a Home: Pros and Cons Advantages of Renting • Your landlord is typically responsible for … Read more
Question: Dear Steve, Steve Vanderhoof’s widow Rayan Vanderhoof and her CURRENT STATUS with the Department of Justice and her company Olympus Medical Group Corporation for Medicare Fraud? Was Ms. Vanderhoof ever convicted? Answer: Many of the court records in the case of the United States of America v. Rayan Vanderhoof are sealed and not publicly … Read more
Vista College, a chain of for-profit college campuses, closed and went bankrupt a few days ago. Most Vista campuses are in Texas, but the chain filed its bankruptcy proceedings in Delaware. Who Owns Vista College? Education Futures Group (EFG), a Chicago-based private equity firm, holds a majority interest. Jim Tolbert, Vista’s CEO, owns 16.7 percent. … Read more
Car warranties can be a helpful tool for keeping your car safe and reliable. An extended car warranty is much like the warranties that come with new cars. It covers your car’s mechanical and electrical systems, such as the engine and transmission, if they break down. Unfortunately, there are many extended car warranty scams out … Read more
Baylor University, a Baptist institution located in Waco, Texas, is a well-respected school. Over the years, it has risen steadily in the college ratings and now ranks among the top 100 American universities. But Baylor is expensive–tuition and fees are about $50,000 a year. Low-income students can take out federal loans, but these loans are … Read more
Have you ever tried to resolve a dispute with a corporate entity: a bank, a car rental agency, a credit card company? How did it turn out? Most times–I’m guessing–you just gave up without getting your problem solved. A couple of years ago, Chase Bank flagged a fraudulent transfer out of my checking account. Three … Read more
The Public Service Loan Forgiveness federal student loan forgiveness program was designed to attract good people into lower-paying fields that serve the public good. These fields include teachers, firefighters, law enforcement, military, low-income medical care, etc. While President Bush created the program, it was all but murdered under President Trump. As a result, people that … Read more
The FTC made the announcement below that seems to open the door for students with federal student loans to explore the possibility of applying for a Borrower Defense Loan Discharge. The Federal Trade Commission put 70 for-profit higher education institutions on notice that the agency is cracking down on any false promises they make about … Read more