Game of Loans: The stark truth about student loan “debt relief” claims
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Friday, November 25, 2022
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If you think the feuds among the Great Houses of Westeros get intense, consider the dinner table discussions about student loan debt.
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.