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Student Loan Rescue or Assistance

FTC and Florida Sue Student Aid Center

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On May 23, 2016 the Federal Trade Commission and State of Florida filed suit against Student Aid Center, Ramiro Moris, and Damien Alvarez. The FTC alleges the Florida based company, shocker, took advantage of consumers. The complaint states: “Defendant Student Aid Center, Inc. (SAC) is a Florida corporation with its principal place of business at 2500 Northwest 79th Avenue, Suite ... Read More »

    Student Aid Institute – The Latest in the CFPB Crosshairs

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    The Consumer Financial Protection Bureau (CFPB) yesterday took action to halt a student loan debt relief scam that illegally tricked borrowers into paying fees for federal loan benefits and misrepresented to consumers that it was affiliated with the Department of Education. The CFPB is ordering the student debt relief company, Student Aid Institute, Inc., and its chief executive officer, Steven ... Read More »

      Student Loan Processing.US Shut Down by CFPB

      Closed sign. (Sorry we are closed)

      Today the Consumer Financial Protection Bureau (CFPB) requested that a federal district court enter a final judgment and order that would shut down a student debt relief scheme that charged borrowers millions of dollars in illegal upfront fees for federal student loan services. If approved by the court, the proposed judgment would ban the company, Student Loan Processing.US, and its ... Read More »

        I Just Received a Mail Piece Regarding Student Loan Relief…Is It Legitimate?

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        A hat tip to the Association for Student Loan Relief for sending in this guest post. Introduction The student loan burden currently facing our country is much larger than most people realize. As of July 1, 2015 there were approximately 37.1 million Americans with outstanding student loans with an aggregate face value of around $1.1 trillion. Of those it is ... Read More »

          FTC Brings Action Against Debt Relief Operation that Targeted Financially Distressed Homeowners and Student Loan Borrowers

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          The Federal Trade Commission has charged a debt relief operation with falsely representing to financially distressed homeowners and student loan borrowers that it would help get their mortgages and student loans modified. At the FTC’s request, a federal court has temporarily halted the operation. The agency seeks to permanently stop the alleged illegal practices and obtain refunds for affected consumers. ... Read More »

            Beling & Associates Student Loan Assistance Websites(s) Make Me Curious

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            Update March 1, 2016 I received the following error report from Craig Beling. I would like to thank him for sending in this update to help clarify information posted here. Craig said, “It has come to my attention that you have recently posted information on your website insinuating that I may have engaged in fraudulent activities in the past and ... Read More »

              Do Premier Student Loan Center Sales Closers Offering Independent Financial Advice?

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              I just spotted a help wanted advertisement for Premier Student Loan Center that serves as a good example of who consumers may be talking to when they call in or get a call. This is yet another great look at the motivation of the person on the other end of the phone when people are looking for solid financial advice. ... Read More »

                Who is SelectSLHelp.com Asks a Reader

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                I received an email asking me if I knew anything about a new website SelectSLHelp.com. I have to admit, I’m scratching my head about the website. According to public domain records the domain name was created on July 1, 2015 but their testimonial page has testimonials that appear they have been around longer. One testimonial says, “SelectSLHelp.com was able to ... Read More »

                  Dubious Student Loan Assistance Offer From a Church?

                  Unless you are on fire, taking a day or two before you take action isn't going to change anything.

                  A tipster (send in your tips here) just sent me the following email they received today offering student loan assistance. On first glance it seems like just a run of the mill offer for help. Maybe one people might bite on. But why is this allegedly being sent out by the HRock School of Supernatural Ministry in Pasadena, California? I ... Read More »

                    Can Search Engines Stop Student Loan Scammers?

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                    If you’ve checked your spam folder recently, you know that offers of student loan debt relief have exploded right along with the student loan debt problem. You probably know it’s a bad idea to answer spam in a quest to lower your loan payments, but you might be more inclined to answer an advertisement you see on a major search ... Read More »

                      The Type of People Giving Student Loan Advice – Closers

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                      I stumbled across this job listing the other day for some company called Student Loan Solutions. They say they can provide you will valuable advice and, “Our Student Loan Advisors will provide you with full explanations and answers to all your questions about your student loans and the programs that are available to you.” – Source So who are the ... Read More »

                        Student Loan Assistance Companies Bitch Slapped by Attorney General

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                        If anyone in the debt relief industry didn’t see this coming, they are stone-cold blind. Student loan assistance has become the next wave of profitable debt relief services to sell with horrible advice. In an atmosphere that is ripe for picking off consumers for these services, the companies know better and should have learned lessons from the problematic debt settlement ... Read More »

                          The Very Odd BBB Statement About Student Loan Service Managers – SLS Managers

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                          A reader just posted a complaint about SLS Managers and in looking up the company address I came across the oddest comment by the BBB about this company. SLS Managers says they are located at 23172 Plaza Pointe #128, Laguna Hills, CA. – Source But the BBB says, “BBB received returned mail from “23172 Plaza Pointe Dr #138 Laguna Hills, ... Read More »

                            Why Income Based Student Loan Payments Can Be a Terrible Trap

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                            What Student Loan Assistance Companies Are Not Telling You With the surge in companies that are selling student loan assistance programs it seems their product is most commonly just filling out paperwork to enroll people in income driven repayment programs for federal student loans. It’s an easy sale, “We Can Lower Your Payment,” is a powerful message that resonates with ... Read More »

                              Student Loan Forgiveness Scams

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                              For those looking for legitimate student loan forgiveness help it seems there are bad actors and scammers just waiting to take advantage. Some of the most ridiculous scams I’ve seen seem to circle around misinformation and bad advice for ridiculously high fees. Don’t get me wrong, it is entirely possible for have federal student loans forgiven. I personally think the ... Read More »

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