The first thing to know is this: you don’t have to pay for help managing your student loans. If someone tries to charge you up front, before they’ve done anything, that’s your first clue that this is a scam. And nobody but a scammer will ever offer you quick loan forgiveness. Take, for example, Apex, a company …
Don’t pay for help with your federal student loans Read More »
The Federal Trade Commission and the Department of Justice are sending more than $9 million in refunds to consumers who lost money to Ameritech Financial, a student loan debt relief scheme operated by Brandon Frere, who was convicted of criminal charges in connection with the scheme. The FTC is sending payments to 22,562 consumers. Most …
Ameritech Forced to Pay 9 Million For Student Loan Debt Relief Scheme Read More »
The Federal Trade Commission is sending payments totaling more than $3.3 million to consumers who were harmed by Arete Financial Group, a student loan debt relief operation that tricked consumers into making illegal upfront payments by pretending to be affiliated with the U.S. Department of Education and falsely promising student loan debt relief. In reality, …
As a result of action by the Federal Trade Commission and the Commonwealth of Pennsylvania, debt collection company International Credit Recovery, Inc. (ICR), officer Richard Diorio, Jr., and manager Cynthia Powell, have agreed to a permanent ban from the debt collection industry after being charged with engaging in bogus debt collection efforts against businesses and non-profits. The FTC and …
Credit Recovery, Inc. Shut Down for Fraudulent Collection Practices Read More »
A up to $1,000.00 in statutory damages, actual damages and attorneys fees must be paid for violations of the FCCPA
The Consumer Financial Protection Bureau (CFPB) has cracked down on a student-debt relief company for predatory behavior. The company, GST Factoring, was ordered to pay $11 million to 2,600 borrowers who were charged illegal upfront fees. The company was also banned from engaging in any debt relief services going forward. The CFPB’s investigation found that …
Student Loan Scam: 11 Million Returned to Students Read More »
The Federal Trade Commission is sending payments totaling more than $830,300 to 1,376 people who began their enrollment at Saint James School of Medicine between Fall 2016 and Summer 2021. The for-profit medical school in the Caribbean and its Illinois-based operators allegedly misled prospective students about their chances of success—both in passing a medical school …
With the recent announcement of the one-time federal student loan debt relief plan, we knew scammers were on their way. Well, they’re here. The application for debt relief is rolling out any day now, so focus on getting information directly from the Department of Education. But what do these student loan scams look like? You might get …
Student Loan & Debt Forgiveness Scams Are on The Rise Read More »
You’ve probably already heard about the new government plan that will forgive some federal student loans, once it’s up and running. Also in the news: the federal student loan payment pause has been extended to December 31, 2022. But scammers are watching the news, too, so know this: you don’t need to do anything or …
Did you hear about the student loan announcements? Scammers did, too. Read More »
The remaining defendants in a deceptive student loan debt relief scheme are permanently banned from providing all student loan debt relief products and services in settlements with the Federal Trade Commission. The settlements with Jay Singh, the two corporate defendants he controls, and seven other corporate entities resolve charges the FTC in brought in November 2019 against …
FTC Shuts Down Student Loan Scam: US Financial Freedom Read More »
