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Remember the Spam Text Warning? FTC Shuts Them Down.

scam

Previously I reported on spam text that were being sent to consumers, claiming that people had one a major gift card. However the fine print showed that “winners” would have to apply for products and services including financial services and debt relief. See these stories, Bxsy.biz Best Buy Giftcard Spam Text – Scam Alert, Avoid Free-BestBuy.com Spam Text Message, and ... Read More »

    Student Consulting Group / Fix My Student Loan – Review. Are They a Scam?

    SCG Home (20130307)

    Company Name Student Consulting Group Marketing Message “It would be great if I had some extra cash right now.” Who hasn’t said that more than once? I sure have. Whether it was to pay for a nice dinner, to go on a vacation, or to just buy something I wanted. It really hurts doubly when you say that and you ... Read More »

      GetDebtAid.com Student Loan Reduction Program – Review. Are They a Scam?

      Audit Stamp Shows Financial Accounting Examination

      Company Name GetDebtAid.com Our Impression of What the Company Offers to Consumers I spotted an advertisement for student.getdebtaid.com. The advertisement took me to a site that appears to be nothing but a lead generation site. The claim is that people may qualify for student loan debt relief but no programs are actually expiring. In my opinion the advertisement is misleading. ... Read More »

        Buy This Book – Deal With Your Debt by Liz Weston

        Screen Shot 2013-03-05 at 10.39.39 AM

        My dear friend Liz Weston has just published an update to her book “Deal With Your Debt: free yourself from what you owe.” On Amazon it is available for just $15 or so. Liz is a knowledgeable and talented journalist that covers the money, credit and debt world. I’ve know her for years and I’m proud to say that I ... Read More »

          Student Loan Consolidation Assistance Slippery Slope of Compliance

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          Recently the site has received a number of great comments about if student loan consolidation assistance services should be regulated or are already regulated under state laws.You can read all the article on this topic, here. When talking about compliance issues for student loan assistance programs the argument seems to come down to one of two statements. We Are Not ... Read More »

            Student Loan Assistance Companies Need a Good Debt Relief Lawyer

            White Collar Criminal

            The more I talk to regulators around the country the more I’m hearing that student loan assistance companies that charge advance fees are operating illegally in a number of states. The issue is a bit murky at the moment but the argument is student loan assistance companies are charging advance fees and charging a fee for a service to assist ... Read More »

              Nation Wide Consumer Debt Relief – Review. Are They a Scam?

              Audit Stamp Shows Financial Accounting Examination

              Company Name Nation Wide Consumer Debt Relief Our Impression of What the Company Offers to Consumers My initial reaction is their claim to be able to improve your credit score for an advance fee seems to run into trouble with the Fair Credit Organizations Act. For a company that’s been around since 2006, they don’t appear to have spent any ... Read More »

                My College Loan Support / Default Student Loan Specialists – Review. Are They a Scam?

                Audit Stamp Shows Financial Accounting Examination

                Company Name My College Loan Support Default Student Loan Specialists Our Impression of What the Company Offers to Consumers Student loan consolidation services. However, the company can’t be verified, the management is a mystery, the local appears to not be a real address and the domain ownership is hidden. The company also did not send the client agreement for review ... Read More »

                  Student Loan Repair Center – Review. Are They a Scam?

                  Audit Stamp Shows Financial Accounting Examination

                  Company Name Student Loan Repair Center Our Impression of What the Company Offers to Consumers Promises to lower student loan payments or get student loans forgiven. Makes big claims on home page of results but does not give any support if those are typical results. Address Not available on contact us page. Only available in privacy policy. www.loanrepaircenter.com 1424 Hammocks ... Read More »

                    Veterans Target of Financial Scammers – Beware

                    Military

                    The Federal Trade Commission warns veterans and their families: Be wary of dishonest advisers offering “free” help with paperwork for pension claims. Unscrupulous lawyers, financial planners and insurance agents advise veterans over 65 to transfer their assets to a trust, or to invest in insurance products, so they can qualify for Aid and Attendance benefits. By following their advice, you ... Read More »

                      Student Loan Managers – Review. Are They a Scam?

                      Audit Stamp Shows Financial Accounting Examination

                      Company Name Student Loan Managers Our Impression of What the Company Offers to Consumers The company appears to offer services for federal student loans only to consolidate and/or reduce monthly payments or discharge student loans. Yet these services are available for free directly through the Department of Education to consumers but the company is not transparent about that fact. Depending ... Read More »

                        Student Loan Processing.US – My Observations and Site Review

                        questions

                        A tipster (send in your tips here) alerted me about a company called Student Loan Processing. Can the names get any more generic? The tipster (send in your tips here) said “They charge 1% of the debt amount” for student loan assistance. It is unclear from the information I was given if there were any other fees or fee schedules. ... Read More »

                          How to Run a Clean Student Loan Assistance Program

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                          Since I started writing about student loan rescue or assistance programs that look like they take unfair advantage of consumers I’ve heard from some that would like to know what a “legitimate” student loan assistance program actually would look like. You can see the current list of articles on this subject of student loan assistance or rescue issues, here. My ... Read More »

                            FTC Halts Financial Scam That Targeted Vulnerable Consumers

                            scam

                            At the Federal Trade Commission’ request, a federal court has temporarily halted an operation that allegedly used an intricate web of concealment to debit hundreds of thousands of consumers’ bank accounts and bill their credit cards more than $25 million without their consent. The court also froze the defendants’ assets and appointed a receiver to control the business pending trial. ... Read More »

                              Student Loan Service in California is Selling Me Student Loan Help. Is This Legal? – Ryan

                              Drive Carefully

                              “Dear Steve, I have $43,540 in student loan debt. They are charging 1% of the payment and a monthly maintance fee. Is this legal? How are they doing this? Seems to be a legit company and have a good BBB rating. www.studentloanservice.us/services Ryan” Don’t miss our free Get Out of Debt – “How To” Guide Series on a number of ... Read More »

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