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Consumer Debt Articles

New Car Prices and Payments Set Records

Steve RhodeMar 3, 20163 min read
New Car Prices and Payments Set Records

Experian Automotive announced that the average amount financed and the average monthly payment for a new vehicle continued to climb, breaking the previous records on file. According to its latest State of the Automotive Finance Market report, the average amount…

I Defaulted Again on My Rehabilitated Student Loans. Now What?

Steve RhodeMar 2, 20163 min read
I Defaulted Again on My Rehabilitated Student Loans. Now What?

Question: Dear Steve, I just got word from my employer that they will be garnishing my wages due to unpaid student loans. This is the second time this has happened to me. I went through the rehabilitation process the first…

Monopoly Ditching Fake Money for Fake Credit Cards

Steve RhodeMar 1, 20161 min read
Monopoly Ditching Fake Money for Fake Credit Cards

Bob Sullivan just published a great piece on the elimination of paper money from the game Monopoly. But is that really the worst thing to happen? Sullivan says, “In other words, there is little evidence that Monopoly, the game, was…

Why REPAYE is Such a Horrible Student Loan Repayment Option

Steve RhodeFeb 29, 20165 min read
Why REPAYE is Such a Horrible Student Loan Repayment Option

The Department of Education recently launched the much awaited new federal student loan income based repayment option REPAYE (Revised Pay As You Earn). They should have named it WTF. While the program gives some consumers additional options, it is a…

Schools That Deny Students Rights Should Not Receive Federal Funding

Guest PostFeb 25, 20164 min read
Schools That Deny Students Rights Should Not Receive Federal Funding

The U.S. Department of Education should deny Title IV funding to for-profit and other schools that require students to sign away their legal rights and submit to binding arbitration in future disputes with their schools, Public Citizen said today in…

FTC Brings Action Against Debt Relief Operation that Targeted Financially Distressed Homeowners and Student Loan Borrowers

Steve RhodeFeb 25, 20162 min read
FTC Brings Action Against Debt Relief Operation that Targeted Financially Distressed Homeowners and Student Loan Borrowers

The Federal Trade Commission has charged a debt relief operation with falsely representing to financially distressed homeowners and student loan borrowers that it would help get their mortgages and student loans modified. At the FTC’s request, a federal court has…

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