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

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Three student debt relief companies were banned from the industry for falsely promising they could eliminate student loan debt and for posing as consumers. Defendants in Student loan debt relief Scheme Banned from Industry in Settlement with FTC and Florida

Debt Collection May Change for Student Loan Borrowers – U.S. Department of Education plans to rework how debt collection agencies interact with borrowers; Unpaid Student Loan Debt Threatens Readers’ Wages – More than a third of federal student loan borrowers age 65 and older are in default, one report found.

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 · The DOE, for its part, has reported that more than 8 million federal student loan borrowers are in default and have not made a payment in at least a year and another three million direct loan.

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 from the Operation Game of Loans enforcement initiative targeting alleged deceptive student loan debt relief schemes. The FTC alleged that the defendants collected illegal upfront fees and falsely.

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The FTC also alleged that the defendants charged consumers illegal upfront fees of $300 or more for these purported debt relief services. At the request of the FTC, a federal court temporarily halted the scheme and froze its assets .

Under the settlement order, A1 Doc Prep Inc., Steamlined Marketing, and their owner are prohibited from debt relief and telemarketing activities. The defendants are also banned from making misrepresentations or unsubstantiated claims related to financial or other products or services.

The Federal Trade Commission won a $2.6 million federal court judgment against three defendants behind a scheme. of Florida, Tampa Division, banned the defendants for 10 years from selling mortgage.

Operators of Student Loan Debt Relief Schemes Settle FTC Charges. Under the settlement order, the defendants are banned from debt relief and telemarketing activities and from making misrepresentations or unsubstantiated claims related to financial or other products or services. The order includes a judgment of more than $9 million,

Under the settlement order, the defendants are banned from debt relief and telemarketing activities and from making misrepresentations or unsubstantiated claims related to financial or other products or services.