An amazing reader, Emily, sent in a new debt relief mailer through my I Buy Junk Mail program.
As you can see from the outside the mailer does not identify the company and pretends to look like an official mailer.
It comes from postal permit 1297 in Sacramento, California, which has been responsible for sending out other debt relief mailers. The outside says it is from Student Loan Services Pre-Qualification Adjustment / Disbursement Division.
The inside of the mailer says the program is the AFB Student Loan Assistance and Benefits Program. and that consumers who bit on this offer will be able to finance the service fee with Orion Acceptance Corporation.
While the mailer makes all sorts of promises, what it does not disclose is that reduced payment programs are available for free through the Department of Education.
In the fine print at the bottom the company is identified as AFB, 311 Professional Center Drive, Suite 200, Rohnert Park, CA 94928. There is a company named American Financial Benefits Center the BBB reports at that address.
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This offer was able to be reviewed because a kind reader sent it in via my I Buy Junk Mail program.
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They are a TRUE SCAM, the absolute worst of the worst. The modern day equivalent of mortgage companies falsefying documents to get a loan, these guys at AFBC are convincing debtors that their family size can be anyone who you feed occasionally or who you give gifts to while the legal definition is someone who you proivde at least 50% of their monthly financial necessities to. They are doing nothing that people cannot do themselves and the way they are getting customers a $0 payment is by making their family size a high number 7-12. Once the debtor goes to apply for loan forgiveness they will be quickly audited to realize their family size is not that large and they will be stuck with their entire loan plus interest, having just paid a for profit company thousands of dollars for providing absolutely nothing other than “Products and Services” all outlined in their fourteen page contract covering their ass legally. THESE GUYS ARE THE WORST, BRANDON FRERE NEEDS TO BE HAULED AWAY TO JAIL they are absolute scum of the earth, ruining peoples lives.
They would not send me the documents to review before asking for personal info such as social security and bank account numbers!! They said it all had to be processed over the phone. bull shit. The sales rep I spoke with, “David,” kept referring the their BBB rating, but there is no way to even prove the person i was talking to was affiliated with American Financial Benefits. If they were legit, they’d
be upfront with their paperwork. end of story.
All you have to do is find out exactly what repayment plan they are going to set you up with. Once you know the name of the federal repayment plan you can find the forms online and fill them out yourself for free.
Hi guys,
I just signed up and am now trying to look for any information if I need to cancel or anything. I’m really nervous about this whole thing so any information would be great!
me too britney! I am fearful I could have just made a catestrophic mistake handing over my personal information. Pleas anyone with any additional information comment below!
I am with you HerNamels_Rio. Could someone please direct us on how to approach getting the loans reduced based on the Ford Act? This story tells me that the company is a scam. But is there truth to what they say and could they really do what they say? If anyone reading this knows of how go about this legtimately please tell us.
There is nothing sneaky, tricky, or magical about dealing with federal student loans. See https://getoutofdebt.org/51013/the-ultimate-guide-to-dealing-with-student-loans-you-cant-afford
I keep trying to find articles on the American Financial Benefits Center and the only thing I am finding is that people are saying it’s “too good to be true”. There hasn’t been anything stating that AFBC stole money, or identity or ruined credit so i’m on the fence….
Any updates on this since then? Please let me know. Im also considering this. I want it to be true but cant afford to be wrong!
I also got one of these. I talked to Tyler for a long time several times. He says I qualify for a greatly reduced loan payment under the Ford Act and the 2007 act. He refers me to the companies A rating with Better Business Bureu. He also refers me to his linked in page to show how good they are. When I have talked to Salie mae they tell me all I can do is go to a 25 year payment plan, and after 10 years since I work for a non profit two of my four loans will go away. the other two which are parent plus loans are not forgivable. i would love to reduce the loans. Is there some one out there who really has reduced a huge loan to a small amount under the William B Ford Act?
I also got one in the mail, talked to Ruben for an hour. Very informational and thorough, then he stated that he grew up in a neighborhood close to mine before moving to Cali- sparking convo and building trust with me. Currently I pay $850 a month in student loan debt and he said that my total payments would be $140 unless my salary goes up, then causing my payment to go up roughly $60 every $10-$15K I earn. It sounds to good to be true, but I just can’t find any sort of “bad” information on them, just sketchy non confirmed info. It obviously sounds attractive bc of how much student loan debt I have, so I’m battling signing up for it.
Is this a true scam!?!
I also talked a long time with Tyler. He’s a really nice guy but im still in doubt. Did you find anything else?