The Federal Trade Commission is sending payments totaling more than $3.3 million to consumers who were harmed by Arete Financial Group, a student loan debt relief operation that tricked consumers into making illegal upfront payments by pretending to be affiliated with the U.S. Department of Education and falsely promising student loan debt relief. In reality, …
As a result of action by the Federal Trade Commission and the Commonwealth of Pennsylvania, debt collection company International Credit Recovery, Inc. (ICR), officer Richard Diorio, Jr., and manager Cynthia Powell, have agreed to a permanent ban from the debt collection industry after being charged with engaging in bogus debt collection efforts against businesses and non-profits. The FTC and …
Credit Recovery, Inc. Shut Down for Fraudulent Collection Practices Read More »
On March 23, 2023, the Consumer Financial Protection Bureau (CFPB) filed a complaint and proposed stipulated final judgment and order to resolve the Bureau’s claims against Portfolio Recovery Associates, LLC (PRA), one of the largest debt collectors in the United States. On September 9, 2015, the CFPB issued an order against PRA (2015 Order) to …
CFPB Fines Portfolio Recovery Associates Again For Repeated Debt Collection Violations Read More »
A up to $1,000.00 in statutory damages, actual damages and attorneys fees must be paid for violations of the FCCPA
Robocalls aren’t just a pain to get, they’re often pushing scams for things like fake auto warranties and debt relief. But scammy robocallers can’t do it alone. That’s why the FTC is taking action against Stratics Networks, a company that supplied the technology for telemarketers to make tens of millions of robocalls. But that’s not all — …
Credit card debt can be stressful. Interest rates can be high, and if you miss or can’t make your full payments, that growing balance can be overwhelming. Enter a group of companies that promised to reduce or eliminate your credit card debt. (For a fee.) But did they? The FTC’s lawsuit against ACRO Services and related …
The Federal Trade Commission is sending payments totaling more than $830,300 to 1,376 people who began their enrollment at Saint James School of Medicine between Fall 2016 and Summer 2021. The for-profit medical school in the Caribbean and its Illinois-based operators allegedly misled prospective students about their chances of success—both in passing a medical school …
With the recent announcement of the one-time federal student loan debt relief plan, we knew scammers were on their way. Well, they’re here. The application for debt relief is rolling out any day now, so focus on getting information directly from the Department of Education. But what do these student loan scams look like? You might get …
Student Loan & Debt Forgiveness Scams Are on The Rise Read More »
The Federal Trade Commission is sending 14,521 checks totaling more than $822,000 to borrowers who lost money to a student loan debt-relief scheme that operated under the name Student Advocates. Consumers who receive checks should cash them within 90 days, as indicated on the check. Recipients who have questions about their refund should call the …
More than $822,000 Returned to Students Deceived by Student Advocates’ Debt Relief Scam Read More »
The Federal Trade Commission is sending payments totaling more than $9.7 million to 61,990 consumers who were charged hidden fees by LendingClub Corporation. These payments are the result of a claims process conducted by the FTC in February 2022. It is the second distribution of funds in this matter and brings the total amount refunded to consumers …
