Game of Loans: The stark truth about student loan “debt relief” claims

If you think the feuds among the Great Houses of Westeros get intense, consider the dinner table discussions about student loan debt.

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Provider: 
FTCFTC
URL: 
https://www.ftc.gov/business-guidance/blog/2017/10/game-loans-stark-truth-about-student-loan-debt-relief-claimshttps://www.ftc.gov/business-guidance/blog/2017/10/game-loans-stark-truth-about-student-loan-debt-relief-claims
Retrieved on: 
Friday, November 25, 2022
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Tags: 
People, FTC, Student debt, Forgiveness, Great House, Parent, LA, Federal Trade Commission Act of 1914, Federal Trade Commission, Social Security, FSA, Privacy, Social media, List, District, Department, Policy, Rule, Jewellery, TSR, ID, Record, Daenerys Targaryen, Blog, Industry, Fraud, Complaint, Solution, AGS, Business, Comment, Risk, Social, Bank, Insurance
Geotags: 
LOS ANGELES
Summary
Key Points: 
  • If you think the feuds among the Great Houses of Westeros get intense, consider the dinner table discussions about student loan debt.
  • Often pitched on social media, the defendants ads struck similar deceptive chords Get rid of student loan debt, $0 monthly payments, and We can .
  • As part of Game of Loans, the FTC announced court orders in two pending cases against Student Aid Center and Strategic Student Solutions.
  • American Student Loan Consolidators.According to the complaint, the Florida company took in more than $11 million with false claims of loan forgiveness, reduced monthly payments, and lower interest rates.
  • Student Debt Doctor.The FTC alleges that the Florida company wasnt what the doctor ordered for consumer struggling with student loan debt.
  • Student Debt Relief Group.The FTC says the LA-based company used a bogus affiliation with the Department of Education to collect more than $7 million in illegal upfront fees.
  • In addition, the FTC has updated advice on how to spot a student loan debt relief scam.
  • The FTC also has advice for companies in the student loan debt relief business.
  • The Telemarketing Sales Rule has specific provisions to curb deceptive and abusive practices in the debt relief services industry, including when the debt is a student loan.
  • Second , under both the TSR and the FTC Act, its illegal to make false or unsubstantiated claims about student loan debt relief services.
  • Read Debt Relief Services and the Telemarketing Sales Rule: A Guide for Business for more compliance advice., under both the TSR and the FTC Act, its illegal to make false or unsubstantiated claims about student loan debt relief services.
  • Read Debt Relief Services and the Telemarketing Sales Rule: A Guide for Business for more compliance advice.
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