What Is “Reaffirmation” in Bankruptcy? And Should I Do It?
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Steve Rhode
Steve Rhode is better known as the “Get Out of Debt Guy.” He’s been teaching people how to solve money problems since the 1990s. He considers this to be one of his greatest moments: declaring bankruptcy.
He founded and ran a real estate development company that made him a lot of money and then cost him a lot of money. After his bankruptcy in 1994, he founded a non-profit organization to help people through their own financial troubles.
Called Debt Counselors of America and later renamed Myvesta, Rhode grew the business from two to 70 employees. In 2004, he stepped down as president to enjoy life. He later wrote a syndicated advice column that ran in 50 newspapers, wrote three financial-advice books, and appeared as a consumer debt experton Fox, CNN, ABC, NBC, MSNBC, and many local stations.
Rhode hasn’t just provided this financial advice in North America. In 2006 and 2007, he lived outside Liverpool, England, and helped UK residents with debt problems. He was invited to Parliament to offer advice on financial literacy and assisted in the creation of debt-help groups in Ireland, South Africa, and the Netherlands.
Rhode also launched his website, GetOutOfDebt.org, which offers free debt help. Why? “Because I actually enjoy helping people get out of debt,” he says. “It’s not a job or even a hobby. It’s a passion.”
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