FTC-PR-240313-1 (Mar. 13, 2024) FTC Sends More Than $4.1 Million in Refunds to People Who Lost Money to Student Loan Debt Relief Scheme – Agency said scammers lured consumers with fake loan forgiveness and pocketed their money. The Federal Trade Commission is sending more than $4.1 million in refunds to people who lost money to […]
Category: Debt-Relief
Debt-Relief involves strategies or programs designed to help individuals manage or reduce their debt, such as debt consolidation, settlement, or bankruptcy. While these options can provide financial relief, they also present opportunities for fraud. Fraud can manifest in various ways, such as scam companies promising unrealistic debt reduction outcomes in exchange for upfront fees, or misrepresenting their ability to negotiate with creditors. Additionally, some fraudulent entities may collect personal information under the guise of offering relief services, only to misuse or steal that information. It’s crucial for individuals seeking debt relief to work with reputable, accredited agencies and to thoroughly research any service provider to avoid falling victim to these deceptive practices.
FTC-PR-240206-2 (Feb. 6, 2024) FTC Action Leads to Permanent Ban for Scammers Who Charged Students Seeking Debt Relief with Junk Fees – Order requires defendants to turn over personal and business assets A group of student loan debt relief scammers will be permanently banned from the debt relief industry and is required to turn over their […]