DON’T GET RIPPED OFF
WATCH OUT FOR STUDENT LOAN SCAMS
“For only a small upfront fee, we can enroll you in a student loan forgiveness program that will wipe away all of your debt,” a robotic voice says as you pick up the phone. This is how many scams designed to rip you off begin. They prey on your desperation by claiming they can solve all your problems for just a little bit of money. Unfortunately, as student loans become a more prominent problem in America, so do the scams surrounding them. Here are three warning signs to be on the lookout for. UPFRONT FEES The Federal Trade Commission states that any company asking you to pay money upfront over the phone in exchange for student loan forgiveness is illegal. Scammers ignore this and actively take money from innocent, hardworking people every day. Once scammers
take your money, which can range from $500– $5,000, you never hear from them again.
While researching an article that detailed many of these scams, a well-meaning author provided the name of a company that could help. Three months after the release of that article, the very same company that was recommended is now being investigated by the Federal Trade Commission for unlawful student loan debt relief practices. Bankruptcy is not a scam. It is a real, viable way to dispel student loan debt, and it might just be your safest bet. Ask Christine Kingston, who has dispelled nearly a million dollars in student loans. In some cases, bankruptcy may require all of the above, but what is being offered is not student loan forgiveness — it’s bankruptcy. If you want more information on how to eradicate your student loan debt, reach out to us today. We are here to help.
IMMEDIATE LOAN FORGIVENESS Any company offering complete loan forgiveness just by signing up is a scam. Charlatans will call you up, offering you the resolution of your dreams, only to sell your information on the dark web for a significant profit. There are loan-forgiveness programs provided by the government, but they have specific requirements and they will not actively seek you out. ASKING FOR PERSONAL INFORMATION Many scams will fish for your FAFSA ID or Social Security number. In some rare cases, they will even ask for power-of-attorney agreements. Any service asking for this sensitive information in exchange for student loan dismissal should raise an immediate red flag.
M E M E S
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