Loan Digest

Feds say 3 debt-relief companies in OC bilked students of $12.5 million

  • 📰 ladailynews
  • ⏱ Reading Time:
  • 29 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 59%

Loans Loans Headlines News

Loans Loans Latest News,Loans Loans Headlines

The FTC complaints seek monetary relief for those who were misled and to shutter the companies.

, alleging the companies used deceptive claims about repayment programs and loan forgiveness that didn’t exist.

“As Americans struggle with massive student loan debt and uncertainty around the prospect of forgiveness, scammers are looking to cash in,” Levine said in a statement. “These lawsuits to shut down student loan debt-relief schemes continue the agency’s crackdown on junk fees, unwanted calls and financial exploitation.”

Once in possession of their private and sensitive financial information, SL Finance typically collected five “initial” monthly payments of about $200, sometimes followed by monthly payments of approximately $39, the action says.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 332. in LOANS

Loans Loans Latest News, Loans Loans Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Scammers Cheated Student-Loan Borrowers Out of Millions, FTC SaysThe FTC says fraud targeting borrowers is rising since President Biden said he would seek to cancel up to $20,000 in student-loan debt relief for qualified borrowers
Source: WSJ - 🏆 98. / 63 Read more »