Debt relief

TIAA and Savi Put Nonprofit Employees on Track Toward $155 Million in Student Debt Forgiveness

Retrieved on: 
Wednesday, July 28, 2021
Money, Finance, Economy, Debt relief, Student loan, Student debt, Forbearance

Employees at 46 universities and hospitals will receive $155 million in student debt forgiveness using tools from TIAA.

Key Points: 
  • Employees at 46 universities and hospitals will receive $155 million in student debt forgiveness using tools from TIAA.
  • Launched in June 2020, Savi and TIAA's offering makes it easier for nonprofit institutions to provide meaningful student debt relief to their employees.
  • "The current federal forbearance on student loans has been a safety net for many Americans, but it won't last forever.
  • Employees, especially those in nonprofit roles who dedicate their careers to serving others, should have the opportunity to lower their student loan payments and ultimately work toward debt forgiveness.

FTC Sends Checks to People Who Lost Money to Student Loan Debt Relief Scheme

Retrieved on: 
Friday, June 25, 2021
Money, Finance, Financial services, Debt, Banking, Cheque, Numismatics, Debt relief, Federal Trade Commission, Student debt, Loans

The Federal Trade Commission is sending checks totaling more than $316,000 to 10,689 people who lost money to a student loan debt relief scheme.

Key Points: 
  • The Federal Trade Commission is sending checks totaling more than $316,000 to 10,689 people who lost money to a student loan debt relief scheme.
  • In reality, the payments could change every year, and loan forgiveness was not guaranteed for any consumer.
  • People who receive checks should deposit or cash their checks within 90 days, as indicated on the check.
  • The FTC never requires people to pay money or provide account information to cash a refund check.

FTC Sends Checks to People Who Lost Money to Student Loan Debt Relief Scheme

Retrieved on: 
Friday, June 25, 2021
Money, Finance, Financial services, Debt, Banking, Cheque, Numismatics, Debt relief, Federal Trade Commission, Student debt, Loans

The Federal Trade Commission is sending checks totaling more than $316,000 to 10,689 people who lost money to a student loan debt relief scheme.

Key Points: 
  • The Federal Trade Commission is sending checks totaling more than $316,000 to 10,689 people who lost money to a student loan debt relief scheme.
  • In reality, the payments could change every year, and loan forgiveness was not guaranteed for any consumer.
  • People who receive checks should deposit or cash their checks within 90 days, as indicated on the check.
  • The FTC never requires people to pay money or provide account information to cash a refund check.

Restructuring Proposal by Ad Hoc Group of Buenos Aires Bondholders is Rejected Despite Meeting Province Demands for Reduced Debt Service Payments

Retrieved on: 
Monday, June 7, 2021
Debt, Bankruptcy, Corporate finance, Human resource management, Restructuring, Debt relief, Economy, Articles, Human behavior

On May 19, the Group made a restructuring proposal to the Province and, in turn, on May 28, the Province responded with a counterproposal, which the Province has since published (the "PBA Proposal").

Key Points: 
  • On May 19, the Group made a restructuring proposal to the Province and, in turn, on May 28, the Province responded with a counterproposal, which the Province has since published (the "PBA Proposal").
  • While the Group believes that the Province has opportunistically sought more debt relief than is justified by its near and medium term financial outlook, on June 4, in an effort to consensually resolve this long-standing debt default, the Group presented the Province with a proposal (the "Group Proposal") accepting the total debt service envelope set forth in the PBA Proposal.
  • The Group Proposal also provided detail regarding the structure and terms of the new notes that would be issued to implement the restructuring.
  • Despite the foregoing, the Province rejected the Group Proposal citing dissatisfaction with certain aspects of the structure of the new notes that have virtually no impact on the affordability of the proposal.

FTC Sending More than $147,000 in Refunds to People Affected by Student Loan Debt Relief Scam

Retrieved on: 
Thursday, May 20, 2021
Money, Finance, Economy, Debt, Credit, Direct marketing, Non-store retailing, Telemarketing, Default judgment, Debt relief, Federal Trade Commission, Student debt

The Federal Trade Commission is sending more than $147,000 in full refunds to people affected by a student loan debt relief scam.

Key Points: 
  • The Federal Trade Commission is sending more than $147,000 in full refunds to people affected by a student loan debt relief scam.
  • The defendants also did business as Aiding Student Relief, Aidnest, and Studora, among others.
  • Duong was banned from telemarketing and defendants Avitia-Pena, Calderon, and Capital Sun Investments were banned from selling debt relief services.
  • In 2020, the court issued a default judgment against the remaining defendants, including Colombana, banning them from selling debt relief services or telemarketing.

FTC Sending More than $147,000 in Refunds to People Affected by Student Loan Debt Relief Scam

Retrieved on: 
Thursday, May 20, 2021
Money, Finance, Economy, Debt, Credit, Direct marketing, Non-store retailing, Telemarketing, Default judgment, Debt relief, Federal Trade Commission, Student debt

The Federal Trade Commission is sending more than $147,000 in full refunds to people affected by a student loan debt relief scam.

Key Points: 
  • The Federal Trade Commission is sending more than $147,000 in full refunds to people affected by a student loan debt relief scam.
  • The defendants also did business as Aiding Student Relief, Aidnest, and Studora, among others.
  • Duong was banned from telemarketing and defendants Avitia-Pena, Calderon, and Capital Sun Investments were banned from selling debt relief services.
  • In 2020, the court issued a default judgment against the remaining defendants, including Colombana, banning them from selling debt relief services or telemarketing.

Qurate Retail Announces Semi-Annual Interest Payment and Regular Additional Distribution on 4.0% Senior Exchangeable Debentures Due 2029

Retrieved on: 
Monday, May 17, 2021
Home Goods, Online Retail, Fashion, Luxury, Retail, Debt, Finance, Money, Economy, Debenture, Federal Trade Commission, Debt relief, Student debt, Student loan

b'Qurate Retail, Inc. ("Qurate Retail") (Nasdaq: QRTEA, QRTEB, QRTEP) today announced the payment of a semi-annual interest payment and a regular additional distribution to the holders as of May 1, 2021 of the 4.0% Senior Exchangeable Debentures due 2029 (the "Debentures") issued by its wholly-owned subsidiary, Liberty Interactive LLC (\xe2\x80\x9cLI LLC\xe2\x80\x9d).

Key Points: 
  • b'Qurate Retail, Inc. ("Qurate Retail") (Nasdaq: QRTEA, QRTEB, QRTEP) today announced the payment of a semi-annual interest payment and a regular additional distribution to the holders as of May 1, 2021 of the 4.0% Senior Exchangeable Debentures due 2029 (the "Debentures") issued by its wholly-owned subsidiary, Liberty Interactive LLC (\xe2\x80\x9cLI LLC\xe2\x80\x9d).
  • The amount of the interest payment is $20.00 per $1,000 original principal amount of Debentures (a \xe2\x80\x9cDebenture\xe2\x80\x9d), and the amount of the additional distribution is $0.3930 per Debenture.\nUnder the Indenture for the Debentures, the original principal amount of the Debentures is reduced by an amount equal to each Extraordinary Additional Distribution made to holders of the Debentures.
  • Thereafter, the adjusted principal amount is further reduced on each successive semi-annual interest payment date to the extent necessary to cause the semi-annual interest payment to represent the payment of an annualized yield of 4.0% of the adjusted principal amount.
  • This latter adjustment, to the extent it is made by reason of a particular Extraordinary Additional Distribution that results in an adjustment to the principal amount of the Debentures, takes effect on the second succeeding interest payment date after the payment of that Extraordinary Additional Distribution.\nTo date, there has been one Extraordinary Additional Distribution to holders of the Debentures.

Operators of Student Loan Debt Relief Scheme Banned From Providing Debt Relief Services as Part of Settlement with FTC

Retrieved on: 
Monday, May 17, 2021
Debt, Money, Finance, Economy, Debt relief, Federal Trade Commission, Student debt, Lawsuit, Student loan

The operators of a student loan debt relief scheme are banned from providing debt relief services and have agreed to settle Federal Trade Commission charges that they collected illegal upfront fees and falsely promised to lower or even eliminate consumers loan payments or balances.

Key Points: 
  • The operators of a student loan debt relief scheme are banned from providing debt relief services and have agreed to settle Federal Trade Commission charges that they collected illegal upfront fees and falsely promised to lower or even eliminate consumers loan payments or balances.
  • The defendants also signed customers up for high-interest loans to pay the fees without making required disclosures.
  • The settlement resolves FTC litigation against the remaining defendants in the case: Student Advocates Team, LLC, Progress Advocates Group, LLC (also doing business as Student Advocates), Student Advocates Group, LLC, Assurance Solutions Services, LLC and individual defendant Bradley Jason Huntand individual defendant Sean Quincy Lucero.
  • The defendants are also prohibited from collecting any further payments from the consumers who purchased their debt relief services.

Operators of Student Loan Debt Relief Scheme Banned From Providing Debt Relief Services as Part of Settlement with FTC

Retrieved on: 
Monday, May 17, 2021
Debt, Money, Finance, Economy, Debt relief, Federal Trade Commission, Student debt, Lawsuit, Student loan

The operators of a student loan debt relief scheme are banned from providing debt relief services and have agreed to settle Federal Trade Commission charges that they collected illegal upfront fees and falsely promised to lower or even eliminate consumers loan payments or balances.

Key Points: 
  • The operators of a student loan debt relief scheme are banned from providing debt relief services and have agreed to settle Federal Trade Commission charges that they collected illegal upfront fees and falsely promised to lower or even eliminate consumers loan payments or balances.
  • The defendants also signed customers up for high-interest loans to pay the fees without making required disclosures.
  • The settlement resolves FTC litigation against the remaining defendants in the case: Student Advocates Team, LLC, Progress Advocates Group, LLC (also doing business as Student Advocates), Student Advocates Group, LLC, Assurance Solutions Services, LLC and individual defendant Bradley Jason Huntand individual defendant Sean Quincy Lucero.
  • The defendants are also prohibited from collecting any further payments from the consumers who purchased their debt relief services.

FTC Sends More than $273,500 in Refunds to People Who Lost Money to Student Loan Debt Relief Scheme

Retrieved on: 
Thursday, May 6, 2021
Debt, Money, Finance, Economy, Debt relief, Student loan, Student debt, Federal Trade Commission

The Federal Trade Commission is sending more than $273,500 in refunds to people who lost money to a student loan debt relief scheme that charged them illegal upfront fees and tricked them into believing their student loan payments would be permanently lowered or eliminated.

Key Points: 
  • The Federal Trade Commission is sending more than $273,500 in refunds to people who lost money to a student loan debt relief scheme that charged them illegal upfront fees and tricked them into believing their student loan payments would be permanently lowered or eliminated.
  • According to an FTC complaint filed in September 2019, Manhattan Beach Venture deceptively marketed payment relief and loan forgiveness programs to people looking for help with their student loans.
  • MBV charged consumers up to $1,400 in upfront fees and led them to believe it went toward their student loans.
  • In 2020, FTC actions led to more than $482 million in refunds to consumers across the country.