Defendants in Student Loan Debt Relief Scheme Banned from Industry in Settlement with FTC and Florida

The companies will pay a combined $35 million settlement to the FTC. or deceptive acts or practices in violation of the FTC Act. All $35 million will go toward refunding customers tricked by the.

The Federal Trade Commission and the State of Florida have taken action against two operations charged with running phony student loan debt relief schemes, and defendants in a similar FTC action brought earlier this year have agreed to a ban on participating in any debt relief business, as part of a consumer protection crackdown to combat such frauds.

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The operators of two florida-based student loan debt relief schemes are banned from the debt relief business as part of agreements settling federal trade Commission allegations that they collected illegal upfront fees and falsely promised to help some consumers enroll in government programs that.

On December 7, 2018, the Federal Trade Commission ("FTC) announced that the U.S. District Court for the Southern District of Florida had entered stipulated orders banning the operators of two Florida-based student loan debt relief providers from the debt relief business, the latest actions fro.

On January 24, the Federal Trade Commission (FTC) and the Florida Attorney General’s Office announced a settlement with student loan debt relief providers alleged to have participated in a student loan debt relief scheme, resolving allegations that the providers violated the Federal Trade Commission Act, Telemarketing and Consumer Fraud and Abuse Prevention Act,

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The same debt collector could make two calls to the same individual to collect debt issued by the same lender – one for a purely private student loan, and one for a student. skeptical of this.

The Student Borrower Protection Center (SBPC)-an organization established by former CFPB Student Loan Ombudsman Seth Frotman-recently. The article highlights state and FTC enforcement actions.

FTC: Student Debt Relief Scheme Boss Agrees to $11 Million Settlement. By Allie Bidwell, NASFAA Senior Reporter. The leader of a California-based student loan debt relief scam last week agreed to an $11 million settlement with the Federal Trade Commission (FTC), admitting that he swindled borrowers out of hundreds of dollars under the guise of lowering their monthly payments or securing them.