Get Out Of Debt Guy Show

Julie dropped by GetOutOfDebt.org and left me a question about consolidating private student loans. So before just leaping at advertising offers arriving in your mailbox, here are some points to consider. Be an intelligent consumer because otherwise, it can cost you a lot of wasted money. But you can save money and lower the cost of consolidating your private student loans with these simple tips. Visit me at GetOutOfDebt.org and ask me your credit or debt question just like Julie did. I'm here to help. Steve --- Send in a voice message: https://anchor.fm/get-out-of-debt-guy/message

Over on the Debt Free Dudes podcast, Damon Day and I talk about the confusion, complexities, and misinformation about the announcements that Navient forgiveness of student loans. There are so many important details the headlines can't give you. Debtors will be confused and may wind up angry if they think some or all of their student loans are going to be forgiven as the result of the settlement I wrote about at https://getoutofdebt.org/167223/ In this podcast, Damon and I talk about how confusing this process has been and why many Navient student loan debtors will not turn out to be winners. --- Send in a voice message: https://anchor.fm/get-out-of-debt-guy/message

Company Illegally Charged Consumers for Credit Advice, Filed False ID Theft Reports, and Pitched Them on Fake Business Opportunity. You can read the full post and download the lawsuit and restraining order by visiting the original post at https://getoutofdebt.org/168047/ This Federal Trade Commission suit is yet another example of how consumers can be the victims of illegal services promising to improve credit using dubious techniques. --- Send in a voice message: https://anchor.fm/get-out-of-debt-guy/message

Well, federal student loans have been put on hold until January 31, 2022, and while that sounds like a fantastic way to deal with people struggling to pay student loans, it has good points and some not-so-great features. In this podcast, Damon Day and I talk about how not all "federal" student loans are included and the new Republican no-interest student loan act put forward in Congress. --- Send in a voice message: https://anchor.fm/get-out-of-debt-guy/message

There is so much misinformation floating about when it comes to dealing with debt. Far too many people tell you bankruptcy is a last resort or you should avoid bankruptcy. But here is the ironic thing, that is often the worst advice possible. In this podcast, Damon Day and I talk about bankruptcy, myths and assumptions about bankruptcy, and how to deal with the debt collector if you fall behind on payments. The big lesson here is not to believe everything you think but to do your homework and find out what the facts are so you can make the best decision for yourself or a friend that is facing money troubles. --- Send in a voice message: https://anchor.fm/get-out-of-debt-guy/message

The issue today is that there seem to be so many conflicting stories and so much misinformation about student loans, people have become frustrated. Student loans are a major problem for most of our listeners and the nation. Not only are they unaffordable but they are also dragging down all consumers with higher prices, and they have created a large number of borrowers who have no choice but to stay in limbo, not knowing whether to pay their loans or how to do so when penalties and other roadblocks are built into the system. People just want to know how they can know what their options are without being scammed or sold something. Let's dive right in. --- Send in a voice message: https://anchor.fm/get-out-of-debt-guy/message

Today Damon Day and I talk about three quick topics. The first is a reader comment from our last podcast on debt validation. Danny sure is irritated by the podcast. Next, we talk about the termination of financing agreements for student loan assistance services. Finally, we discuss how the FTC is sending refund checks to people that were suckered into a business opportunity. --- Send in a voice message: https://anchor.fm/get-out-of-debt-guy/message

Today Damon Day and I get stupidly silly laughing and complaining about the ridiculousness of the Public Service Loan Forgiveness program that was intended to forgive student loans for firefighters, police officers, teachers, low-income lawyers, military service members, and more. The PSLF program has turned into a disgrace with more than 98% of people apply for forgiveness being rejected. But wait, there's more. To read the show transcript, click here. --- Send in a voice message: https://anchor.fm/get-out-of-debt-guy/message

In this podcast, Damon Day and I talk about why debt validation isn't really the magic solution some companies try to sell to consumers. There is much more to know about debt validation before you just leap at the incredible sales pitch. If you think debt validation is the way you'd like to take care of your debt, that's great. But before you leap at the sales pitch, at least understand the pros and cons of debt validation so you can make the best and most informed decision to feel confident debt validation is right for you and or your family. If you want to read the full show transcript, click here. --- Send in a voice message: https://anchor.fm/get-out-of-debt-guy/message

If you want to see someone instantly disagree with you, tell them that people that file bankruptcy do better financially than people who don't and struggle. When people face unexpected money troubles, it is just math wrapped in emotion. The underlying facts are not judgmental. And the math doesn't make assumptions or believe common myths.  Let's talk about it. --- Send in a voice message: https://anchor.fm/get-out-of-debt-guy/message

On the show today Damon Day and I focused on reduced mortgage payments for people behind on their federally backed mortgage loans after Covid forbearance ends, why it is so easy to make bad emotional decisions, and adios to FedLoan Servicing. Steve Rhode Get Out of Debt Guy GetOutOfDebt.org --- Send in a voice message: https://anchor.fm/get-out-of-debt-guy/message

In this episode, I answer a couple of reader questions with some interesting issues. The first involves what looks like a duplicate 1099-C tax form for forgiven debt. The second is about an old bad debt that is still on the credit report.  If you'd like to ask me a question, just visit https://GetOutOfDebt.org and click the ask a question link at the top. --- Send in a voice message: https://anchor.fm/get-out-of-debt-guy/message

You might have heard about a new presidential executive order that was signed recently that is supposed to put a halt to having payroll taxes taken out of your paycheck. But there is some important information to know before you get all excited about this and fall for it. --- Send in a voice message: https://anchor.fm/get-out-of-debt-guy/message

Bob wrote to me with his second round of medical debt and wanted to know if a loan or some debt resolution program would be a good idea. My answer is probably going to surprise Bob. --- Send in a voice message: https://anchor.fm/get-out-of-debt-guy/message

We are potentially on the backside of consumer protections from the pandemic. One of these protections was to put evictions on hold while people were struggling to make rent payments. Unless Congress or individual states extend the protections, waves of evictions are possible. ProPublica had a very informative article out on this subject that I wanted to share with you. Your Get Out of Debt Guy. Steve Rhode --- Send in a voice message: https://anchor.fm/get-out-of-debt-guy/message

This week Damon Day (DamonDay.com) and Steve Rhode (GetOutOfDebt.org) spend far too much time laughing and joking about nonsensical stuff while they deal with some serious debt subjects. When it comes to debt there is no sense dying all tensed up. They introduce the new call-in line where you can leave your question on voicemail - 919-391-7976. They also cover a couple of scary telephone message scams that are making people nervous and trying to make sure Damon survives the Bomb Cyclone he is sitting in the middle of. --- Send in a voice message: https://anchor.fm/get-out-of-debt-guy/message

This week Damon Day and I talk about a wide variety of topics. Everything from why big TRS refunds spell trouble to what you really need to know about credit cards and debit cards. The advice is what you would least expect. As usual, the commentary is irreverent at times and we certainly don't take much very seriously. Enjoy the podcast. Oh, and if you want to find Steve, go to GetOutOfDebt.org and you can find Damon over at DamonDay.com. Do you have a question you'd like for us to answer? Leave your question on voicemail by calling 919-391-7976. --- Send in a voice message: https://anchor.fm/get-out-of-debt-guy/message

This week Damon Day and I produce another low rent show, this time about the recent information out from the Department of Education Inspector General.  The report released found the Department of Education was doing a poor job keep federal student loan servicers in line. The report stated, "By not holding servicers accountable for instances of noncompliance with Federal loan servicing requirements, FSA did not provide servicers with an incentive to take actions to mitigate the risk of continued servicer noncompliance that could harm students." Shocker? We then ramble into a conversation about the problems students at Argosy University are facing trying to figure out where their financial aid money is or went. Finally we have a little chat about how the news of car loans defaulting isn't exactly what everyone thinks. Default rates are up, but not for everyone. Do you have a question you'd like for us to answer? Leave your question on voicemail by calling 919-391-7976. --- Send in a voice message: http

Dealing with financial problems is about more than just making a budget. This time Damon Day and I talk about how to make having fun affordable, traveling on the cheap with your own trailer, a few money-saving tips, and Damon tells us how he just got scammed on Craigslist. I'm not sure how we managed to turn the full recording into a podcast but we did. Some curse words included. - Steve Rhode - Get Out of Debt Guy - https://GetOutOfDebt.org Do you have a question you'd like for us to answer? Leave your question on voicemail by calling 919-391-7976. --- Send in a voice message: https://anchor.fm/get-out-of-debt-guy/message

Damon Day and I talk about what to do if you've received an offer in your mailbox for a debt consolidation loan.  Not every offer turns out to be what you think it is.  We talk about questions to ask and what to do when you call the company to get a loan. If you have a question you'd like to ask, visit me at GetOutOfDebt.org. If you'd like to see the video of us recording this show, visit https://GetOutOfDebt.org/118791/ Do you have a question you'd like for us to answer? Leave your question on voicemail by calling 919-391-7976. --- Send in a voice message: https://anchor.fm/get-out-of-debt-guy/message