It now appears the sweep recently announced by the Federal Trade Commission against student loan assistance companies was wider than first thought.
Although Jason Spencer, Student Loan Relief, Student Loan Relief Texas, and Your Student Loan Relief were not named in the federal action there was an apparent coordinated effort by Texas and Pennsylvania against Spencer and his operations.
A kind reader forwarded the Texas and Pennsylvania complaints that were both filed on the same day. The Texas court document says, “The Consumer Protection Division has received numerous consumer complaints alleging that the Defendants have engaged in misleading and deceptive acts and practices relating to student loan debt management in violation of Texas consumer protection law and debt management law. According to consumer complaints, Defendants falsely promised consumers that they would reduce the consumers’ student loan payments or total student debt amounts through enrollment in student loan forgiveness programs or income-driven repayment plans; instead these consumers have suffered financial losses, increased student loan debt, and lost opportunities for loan forgiveness.”
The Texas complaint alleges Spencer and his student loan operations engaged in mislead advertisements, misappropriated or misapplied payments, made unauthorized changes to student loan status, changed consumer contact information without approval, and failed to provide refunds or stop bank account withdrawals.
if the allegations are proved true then it makes you view Jason’s tearful news interview in a different light.
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