I was sent a letter from TFSC Group which stated I should call them to access help with student debt. Upon calling I was directed to Rene Fernandez. He stated that the program was the result of recent legislation and I was lucky to have called because of the limited slots available and the once his company moved on I would not have been able to access the program. In light of this I quickly signed up and made the arrangements for my first payment so I could be “locked in” and not lose me spot. Unfortunately the program was nothing more than the standard IBR plan I have been enrolled in for the last two years through fedloanservicing. They essentially did nothing, because there was nothing to be done, and took 700 dollars from me. I also called my loan servicer in a panic after realizing what I had done, only to find that my loan was not in forebearance and that everything was fine, likely because again, there was nothing to be done o n the part of the TFSC Group.
Consumer Action Taken:
During my attempt to get a refund I was informed I signed the paperwork indicating I understood what was being done and since the paperwork was “processed” I was not eligible for a refund. I do not believe I was spoken to plainly and was misled into believing the plan I was being sold was somehow special and different from what I was currently enrolled in. Regardless of my efforts I could not gain a refund. I then contacted the Federal Student Aid Ombudsman group which unfortunately informed me that what groups like TFSC do isn’t considered illegal. I was directed to the CFPB and FTC. I filed a report with the FTC and when I contacted the CFPB I was informed they don’t deal in federal loans, and was redirected back to the ombudsman.
Date This Problem Happened: September 10, 2015
State You Live in: Pennsylvania
Age Range: 21-35
Total Amount of Fee Paid: $700
Company Name: TFSC Group
23101 Lake Center Drive, Suite 230
Lake Forest, CA 92630
Company Telephone Number: 877-480-2455
Website of Company: tfscgroup.com
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