Three Defendants in Student Debt Relief Scheme Banned from Selling Debt Relief and Telemarketing

Three defendants in a student loan debt relief scheme have been banned from telemarketing and selling debt relief, and ordered to pay millions in resolution of Federal Trade Commission allegations that they deceived consumers by promising to reduce or eliminate consumers student loan debt.

Metadata
Provider: 
FTCFTC
URL: 
https://www.ftc.gov/news-events/press-releases/2020/03/three-defendants-student-debt-relief-scheme-banned-selling-debthttps://www.ftc.gov/news-events/press-releases/2020/03/three-defendants-student-debt-relief-scheme-banned-selling-debt
Retrieved on: 
Tuesday, March 10, 2020
Information
Tags: 
Economy, Money, Finance, Debt relief, Debt, Federal Trade Commission, Telemarketing, Colombana, Student loan, Student debt
Summary
Key Points: 
  • Three defendants in a student loan debt relief scheme have been banned from telemarketing and selling debt relief, and ordered to pay millions in resolution of Federal Trade Commission allegations that they deceived consumers by promising to reduce or eliminate consumers student loan debt.
  • The U.S. District Court for the Central District of California found that Brian Colombana, Impetus Enterprise, Inc., and Fig Tree & Co., LLC deceptively marketed student loan debt relief services to consumers and tricked them into paying illegal upfront fees by promising to reduce or eliminate their student loan debt, and then failed to deliver the promised debt relief.
  • The court also found that Colombana participated in the defendants illegal practices and knew or should have known of their misrepresentations to consumers.
  • All three defendants are now permanently bannedfrom selling debt relief products and services and telemarketing.
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