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— - 1 Fraudsters - 1 it's - 1 scammer - 1
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Federal Trade Commission - 2 Mission Hills Federal - 2 Federal Direct Group - 2 FTC - 2 Service - 1 Wednesday - 1 Business - 1 Court - 1

Search resuls for: "Mission Hills Federal"


2 mentions found


☆ Over 27,000 student-loan borrowers are getting $4.1 million in payments in the mail after debt relief companies 'lured' them into 'fake loan forgiveness claims,' a federal consumer agency says
  + stars: | 2024-03-14 | by ( Ayelet Sheffey | ) www.businessinsider.com   time to read: +3 min
Read previewThousands of student-loan borrowers are getting checks in the mail after paying companies accused of scamming them for debt relief services. The Federal Trade Commission on Wednesday announced it would be sending over $4.1 million in refunds to 27,584 borrowers who gave money to South Dakota corporations Mission Hills Federal and Federal Direct Group. According to the press release, the FTC said the companies "lured consumers with fake loan forgiveness claims and pocketed their money." Advertisement"Moreover, because Defendants have failed to apply most or any of consumers' payments to their student loans, many consumers have accrued additional capitalized interest on the balance of their loans," the complaint said. Those with questions about the payments can contact JND Legal Administration — the company overseeing FTC's refunds — at 844-566-0108, or seek information through the FTC's refund information website.
Persons: — Organizations: Service, Federal Trade Commission, Wednesday, Mission Hills Federal, Federal Direct Group, Business, FTC, Court, Central, Central District of, —, Consumer Financial, Education Department Locations: South Dakota, Central District, Central District of California, California, reportfraud.ftc.gov
☆ FTC to send $4.1 million to over 27,000 borrowers defrauded by student loan forgiveness scams
  + stars: | 2024-03-13 | by ( Kamaron Mcnair | In Kamaronmcnair | ) www.cnbc.com   time to read: +2 min
The Federal Trade Commission announced on Wednesday it is refunding $4.1 million to 27,584 consumers who fell victim to student debt forgiveness scams. Fraudsters "tricked students into paying hundreds to thousands of dollars in illegal upfront fees and pretended to lower consumers' monthly student loan payments," the FTC said in a press release. Additionally, the operators claimed to take over the servicing of consumers' loans and thus, often pocketed consumers' monthly payments, the agency said. Scammers lure student loan borrowers by offering ways to lower their monthly payments or even eliminate their balances. Use these tips to avoid losing money to a student loan scammer.
Persons: Fraudsters, it's, scammer Organizations: Federal Trade Commission, Mission Hills Federal, Federal Direct Group, Data Initiative, FTC, Department of Justice
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