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Steve Rhode

Contributor |  In Managing Debt, Personal Finance

A contributor for Credit.com, Steve Rhode is an experienced and respected consumer debt expert that helps people for free with tips and advice on how to get out of debt through his site at GetOutOfDebt.org.

Could This Loophole Help You Get Rid of Your Student Loan Debt?

Students

Could This Loophole Help You Get Rid of Your Student Loan Debt?

Could This Loophole Help You Get Rid of Your Student Loan Debt?

Recently I fielded a couple of questions from people who were hoping they could eliminate their student loans on a technicality. There are whispers floating around that taking out student loans without a GED or high school diploma is a free pass to eliminating those loans. And this misinformation is like the perfect scam, it... Read More

Can You Discharge Private Student Loans in Bankruptcy?

Students

Can You Discharge Private Student Loans in Bankruptcy?

Can You Discharge Private Student Loans in Bankruptcy?

There’s a big misconception that private student loans can never be discharged in bankruptcy. People have repeated that statement so often they believe it to be a fact. The only problem is it’s not quite true. Some private student loans are clearly eligible to be wiped away in a consumer bankruptcy. Even in a Chapter... Read More

There’s a Catch to Income-Based Repayment That Could Cost You Money

Students

There’s a Catch to Income-Based Repayment That Could Cost You Money

There’s a Catch to Income-Based Repayment That Could Cost You Money

When it comes to dealing with student loans it can be a good news-bad news situation. While there are some good options to dealing with student loans when you can’t afford the payments, not all loans are the same. Federal student loans have a number of repayment options while private student loans tend to be... Read More

Will You Finally Be Able to Get Rid of Your Student Loans in Bankruptcy?

Students

Will You Finally Be Able to Get Rid of Your Student Loans in Bankruptcy?

Will You Finally Be Able to Get Rid of Your Student Loans in Bankruptcy?

This week the White House announced a new Student Aid Bill of Rights, which aims to help federal student loan debtors with better options and more clarity in dealing with their problem student loans. While most of the new initiatives announced are geared toward eliminating unnecessary payment hurdles and make dealing with federal student loan... Read More

How Avoiding Bankruptcy Can Backfire

Managing Debt

How Avoiding Bankruptcy Can Backfire

How Avoiding Bankruptcy Can Backfire

In the world of personal finance, credit concerns and debt issues, there is no single issue that is more misunderstood than bankruptcy. Recently the Federal Reserve Bank of New York came out with an exceptional report on the bankruptcy reform of 2005 — which made it tougher for people to file bankruptcy, and was the... Read More

Will Settling a Private Student Loan Wreck My Credit?

Managing Debt

Will Settling a Private Student Loan Wreck My Credit?

Will Settling a Private Student Loan Wreck My Credit?

A reader recently wrote in, concerned about whether an old unpaid student loan could be reported to the credit reporting agencies: I was recently contacted about an old school loan. It is either close or very close to the statue of limitation and has never showed up on my credit report. I thought maybe the... Read More

The Stages of Debt: Which One Are You In?

Managing Debt

The Stages of Debt: Which One Are You In?

The Stages of Debt: Which One Are You In?

Many years ago I wrote my original Seven Stages of Debt, as modified from the Five Stages of Death and Dying by Dr. Elisabeth Kubler-Ross. Both experiencing the emotional loss of a loved one and the emotional loss of your financial life are similar in some distinct ways. However, the emotional stages of debt also... Read More

How to Check Out a Business to Avoid Getting Ripped Off

Personal Finance

How to Check Out a Business to Avoid Getting Ripped Off

How to Check Out a Business to Avoid Getting Ripped Off

Over the years a common theme has emerged where people feel they are scammed by a company or taken advantage of, and it appears they have not checked them out before giving up their hard earned money for services. Here is my guide on what to do to help you from becoming a victim. Checking... Read More

How to Effectively Deal With Problem Debt

Managing Debt

How to Effectively Deal With Problem Debt

How to Effectively Deal With Problem Debt

Debt is painful. There can be no doubt, besides maybe the loss of a loved one or the death of a friend, that facing bad debt can be a traumatic experience that a large number of people face in their life. I did. But the secrets to digging your way out of debt are logical... Read More

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