One of my favorite resources, the Squared Away Blog by Kimberly Blanton, reports: "Despite numerous state efforts to crack down on fly-by-night firms falsely claiming to reduce or eliminate young adults’ student loans, new firms keep popping up."
"Their social media pitches and websites promise borrowers things the companies can’t possibly deliver on." They appeal to potential customers struggling to pay student loans with slogans like “Get Rid of Your Student Loans Today!” or “$17,500 in Up Front Forgiveness” – “100 percent guaranteed!”
These debt relief firms use similar tactics. "They charge an average $500 to $700 in upfront fees, and sometimes monthly fees, and purport to offer services that unsuspecting young adults could’ve received for free from the U.S. Department of Education. The fraudulent companies often give the misleading impression they are affiliated with the federal government."
Learn more: http://squaredawayblog.bc.edu/squared-away/scam-alert-student-debt-relief/
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