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New Stats Out Paint Depressing Outlook on Student Loans

The Consumer Financial Protection Bureau just published their annual report on student loans. Some of the data jumped out at me. Fun Facts Students who take out college loans but don’t graduate are three times more likely to default than borrowers who complete. The average amount of recent defaults, as of March 31, 2020, is …

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Are More Debt Relief Executives Facing Real Jail Time Like Brandon Frere?

Brandon Frere is either the unluckiest debt relief executive or the first of a trend of debt relief company executives hit with criminal charges. Brandon was the guy behind American Financial Benefits Center (AFBC). Like other companies, AFBC first appeared on this site as a result of consumers sending in their junk mail to me. …

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Criminal Sentencing Scheduled for Brandon Frere From American Financial Benefits Case

Brandon Frere seems to be nearing the end of his legal issues with both the FTC and U.S. Attorney. A recent court filing in the American Financial Benefits Center case said, “As the Court is aware, on December 20, 2019, Defendant Brandon Frere entered a plea of guilty to one count each of wire fraud …

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Student Loan Assistance Executive Enters Guilty Criminal Plea and Faces Jail Time

American Financial Benefits Center (AFBC) was sued by the Federal Trade Commission. Company head honcho Brandon Frere objected to case filed in February 2018. In the original action, the FTC said they had “charged a student loan debt relief operation with bilking more than $28 million from thousands of consumers throughout the country by falsely …

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American Financial Benefits Center – Consumer Complaint – September 2, 2019

Consumer Statement: I signed up for AFBC to help with student loans. They did not help me to get lower payments and they have paid nothing toward my student loans. Now I can not get in contact with them. Consumer Action Taken: have emailed in the past and they kept telling me I didn’t send …

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More Facts Emerge Where Debt Relief Companies Dragged Down Payment Processor

In the Federal Trade Commission (FTC) and State of Ohio suit against a payment processor that was taking care of payments made to two student loan assistance companies, interesting additional details have emerged. My post on the shuttering of companies can be found here. The point of the spear here looks like a company named …

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Educare Centre Services and Tripletel Shut by FTC in Debt Relief Scam Sweep

The alleged schemes took millions of dollars from financially distressed consumers At the request of the Federal Trade Commission and the State of Ohio, a federal court in El Paso, Texas shut down two schemes that allegedly bilked millions of dollars from consumers struggling with credit card debt. The court issued temporary restraining orders against …

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Good and Bad News for Brandon Frere of American Financial Benefits Center

Brandon Frere who is the honcho behind American Financial Benefits Center and a subject of the action by the Federal Strade Commission against the student loan debt relief companies, has won a victory of sorts. Good News I received an alert that the court has awarded him a nine-month stay in the proceedings against him …

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Brandon Frere Running Student Loan Assistance Scheme is Totally Innocent and Says People Need to Make Better Choices in Life and Business

Brandon Frere had his day in court where his attorney was able to spring him from jail on $3 million in bail. Frere is implicated in a student loan assistance scheme by the FTC that allegedly acted illegally and took about $30 million from consumers. According to the legal team representing Brandon Frere, his transfer …

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Brandon Frere of American Financial Benefits Center – Arrested Before Flight Out of U.S.

Student loan assistance company executive Brandon Frere, 41, was arrested and faces a maximum prison term of 20 years in jail. An FBI Special Agent has stated in unsealed documents that Frere, the honcho of American Financial Benefits Center, a student loan assistance company sued by the Federal Trade Commission (FTC) was arrested just prior …

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