FTC Returns More than $3.1 Million to Victims of Student Loan Debt Relief and Credit Repair Scheme

The Federal Trade Commission is mailing checks totaling more than $3.1 million to consumers who were victims of a student loan debt relief and credit repair scheme.

Metadata
Provider: 
FTCFTC
URL: 
https://www.ftc.gov/news-events/press-releases/2020/03/ftc-returns-more-31-million-victims-student-loan-debt-reliefhttps://www.ftc.gov/news-events/press-releases/2020/03/ftc-returns-more-31-million-victims-student-loan-debt-relief
Retrieved on: 
Thursday, March 26, 2020
Information
Tags: 
Economy, Money, Finance, Credit, Personal finance, Debt relief, Federal Trade Commission, Student loan, Student debt, Credit score in the United States, Credit history, Debt
Summary
Key Points: 
  • The Federal Trade Commission is mailing checks totaling more than $3.1 million to consumers who were victims of a student loan debt relief and credit repair scheme.
  • Strategic Student Solutions (also doing business under other names) and its owner, Dave Green, settled FTC allegations that they charged consumers illegal upfront fees and falsely promised to reduce their student loan debt or monthly payments by enrolling them in student loan forgiveness or other programs.
  • The FTC also alleged that the defendants falsely promised to apply monthly payments to consumers student loans and to improve their credit scores and histories.
  • In 2019, FTC actions led to more than $232 million in refunds to consumers across the country.
Copyright: 
2020 FTC. All Rights Reserved.