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Steve Rhode

How Can I Get Navient to Work With Me on Repayment?

Steve Rhode | Posted 07.24.2016 | College
Steve Rhode

Navient has every right to contact the cosigner on the loan. The cosigner agreed to be 100% responsible for the loan if you defaulted. That's the role of the cosigner. The get all the liability and none of the benefit.

How to Cut Your Self Storage Costs to the Bone

Steve Rhode | Posted 07.21.2016 | Business
Steve Rhode

Paying for storage is one of those things that always leaves me scratching my head. Don't get me wrong, I understand the need for temporary storage of your stuff between places to live. That makes perfect sense and something I've done myself for a limited period of time.

Is Afni Collections Really a Scam?

Steve Rhode | Posted 07.16.2016 | Business
Steve Rhode

If you are concerned by the legitimacy of a company, then you should contact your State Attorney General office and inquire if they are registered to do business in the state and licensed to collect debts where you live.

I Went to a Scam School and Now I Have Private Student Loan Problems

Steve Rhode | Posted 07.16.2016 | Business
Steve Rhode

It sure sounds like you got royally screwed. But if there is any good news here it is the loans could be fully discharged in bankruptcy. You see, I doubt the school was eligible for federal student loans so it was probably a private student loan you were saddled with.

Great Lakes Higher Education Authority Says They Can't Sue Me

Steve Rhode | Posted 07.15.2016 | Business
Steve Rhode

Most people make the critical mistake of not actively participating in repairing their credit after bankruptcy and let far too much time pass. Repairing credit after bankruptcy is really a 1-2 year affair.

Department of Education Reaches Decision About Student Loans and Bankruptcy

Steve Rhode | Posted 07.09.2016 | Business
Steve Rhode

The Department of Education has just released guidance on how it will handle bankruptcy discharge requests for government backed student loan debt. And while the guidance is helpful, it's also a bit disingenuous in that it places the burden on students who believed what schools and colleges sold them as a smart financial move.

Donald Trump Praises Beneficial Power of Bankruptcy. Makes Case for Consumers.

Steve Rhode | Posted 07.08.2016 | Business
Steve Rhode

Trump has come out claiming he has never personally filed bankruptcy. And that is absolutely true. But in his defense he has made the case why bankruptcy is both legal and a good move at times.

Serial Debt Relief Scammers Back at it Again in Florida

Steve Rhode | Posted 07.07.2016 | Business
Steve Rhode

The Federal Trade Commission (FTC) has had to invest loads of money again to police the debt relief industry to go after more false promises and schemes to sell people worthless services.

Here Is Exactly Why People Who File Bankruptcy Are Smart

Steve Rhode | Posted 06.30.2016 | Business
Steve Rhode

I seem to spend a lot of time educating people that most everything they know about bankruptcy is just plain wrong. In fact a friend of mine just told me they were going to file bankruptcy and my answer was, "congratulations."

Languishing in Loads of Liabilities

Steve Rhode | Posted 06.25.2016 | Business
Steve Rhode

After ending my domestic partnership, I was single and on my own financially for just under three years. I have since re-married, but incurred approximately $30,000 in credit card debt. What's the best way to get the largest payoff in the next 18 months?

Our Student Loans are Choking the Life Out of Us

Steve Rhode | Posted 06.24.2016 | Business
Steve Rhode

Question: Dear Steve, My husband and I have $260,000 in student loan debt, we've paid $35,000 toward this debt in the last 5 years and it's gone up ...

Will I Be Stopped at the Border for My Old Student Loans?

Steve Rhode | Posted 06.23.2016 | Business
Steve Rhode

Well you can rest assured you will not be arrested when coming back to the U.S. to visit friends and family. It's just not in the purview of U.S. Customs and Border Protection to screen people for bad debts. If they did, imagine the lines.

Door Slams Hard on Morgan Drexen Debt Settlement Company

Steve Rhode | Posted 06.22.2016 | Business
Steve Rhode

Surely a bunch of people at Morgan Drexen are blaming the U.S. Government and Consumer Financial Protection Bureau (CFPB) today for the utter demise of Walter Ledda's creation, Morgan Drexen, on Friday.

Can I Throw This Student Loan Back to My Ex-Wife?

Steve Rhode | Posted 06.17.2016 | Business
Steve Rhode

I was wondering if there was any type of escape clause in our situation where the actual student who borrowed the money is no longer affiliated with the loan and the signer and co-signer are elderly with no means to pay the loan.

Oh China, You're So Funny. This is Going to Hurt.

Steve Rhode | Posted 06.12.2016 | Business
Steve Rhode

According to Shanghai Daily, consumer debt is rolling out to middle and low-income earners in China and in my opinion this will just leave innocent people slaughtered by easy credit.

Why Do I Keep Getting Calls From Student Loan Assistance Companies?

Steve Rhode | Posted 06.05.2016 | Money
Steve Rhode

An exploding industry of debt relief companies, many who used to sell debt settlement services, think selling student loan assistance programs is the new fountain of gold. They will sell the hell out of these programs all day and all night, for an advanced fee and monthly payments.

Why Your Student Loan Debt Might be Bogus and Uncollectable

Steve Rhode | Posted 06.04.2016 | Business
Steve Rhode

Over the past decade we've seen a number of scandals floating around debt ownership and robosigning. That's the process where creditors swear they are the real owners of a particular debt but can't actually produce the proof when pushed to.

Deceptive Mailer Sure Seems to Spoof Department of Treasury for Debt Relief

Steve Rhode | Posted 06.03.2016 | Business
Steve Rhode

An amazing reader sent in a new debt relief mailer through my I Buy Junk Mail program. This one is rather alarming. I doubt the average person would see through what I think is a smoke screen to understand what just landed in their mailbox.

The Government Did a Bank Levy for My Mother-In-Laws Parent Plus Loan

Steve Rhode | Posted 06.02.2016 | Business
Steve Rhode

Federal student loan bank levies are not that common. The Department of Education wants to work out repayment plans on these things before taking such action. In a perfect world your mother-in-law would have worked out an Income Contingent Repayment on these that was based on available funds

Is There Any Hope to Stop a Student Loan Wage Garnishment?

Steve Rhode | Posted 06.01.2016 | Money
Steve Rhode

When it comes to stopping a tax refund intercept, the easiest way to avoid that is to not get a tax refund.

I'm About to Lose Everything. Help!

Steve Rhode | Posted 05.28.2016 | Money
Steve Rhode

I can't see where a debt management plan is going to be helpful for you. The issue seems to be, for whatever reason, you've found yourself again in a situation where you living expenses exceed your income.

Should We Take Money Out of Retirement to Pay Off Mortgage?

Steve Rhode | Posted 05.26.2016 | Parents
Steve Rhode

Question: Dear Steve, I am 63 years old. Retired. 401 $300,000 + plus pension & SS. Wife 62 retired drawing SS small 401 $45,000. We are retired an...

Student Loan Assistance Companies Slapped by Attorney General

Steve Rhode | Posted 05.04.2016 | Money
Steve Rhode

If anyone in the debt relief industry didn't see this coming, they are stone-cold blind. Student loan assistance has become the next wave of profitable debt relief services to sell with horrible advice.

Why Have My Private Student Lenders Not Sued Me Yet?

Steve Rhode | Posted 06.09.2015 | Money
Steve Rhode

Dear Steve, I went to a public school and obtained 2 degrees. A good portion of my student loan debt were in private loans. The economy crashed ...

Family Makes Their Mortgage Payments But Gets Foreclosed On Anyway

Steve Rhode | Posted 06.02.2015 | Money
Steve Rhode

How ridiculous would it be if you made all your mortgage payments in full and on time for years and your mortgage lender foreclosed on you anyway? Sur...