Ringleader of Student Loan Debt Relief Scheme Liable for $11 Million in Settlement of FTC Charges

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Do you have student loans? Did you respond to an ad from Ameritech Financial claiming to offer you debt relief? The FTC has sued Ameritech for deceptive practices and just sent letters about the case to thousands of customers. The court hasn’t ruled, but there are steps you can take now to make sure your payments are going toward your loans.

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On Friday the Federal Trade Commission (FTC), along with 11 states and the District of Columbia, announced "Operation Game of Loans," the first coordinated federal-state law enforcement initiative targeting deceptive student loan debt relief scams. This nationwide crackdown encompasses 36 actions by the FTC and state attorneys general against scammers alleged to have used deception and.

Washington, DC – The ringleader of a California-based student loan debt relief scheme has agreed to settle the Federal Trade Commission’s charges that he bilked $11 million from consumers who were trying to reduce their student loan monthly payments or get loan forgiveness.

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FTC Raids Student Debt Doctor in Sweep Against Student Loans Assistance Companies – The Federal Trade Commission has recently undertaken a sweep of.

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Student Loan Debt Relief Scheme The defendants in two student loan debt relief cases agree to settle Federal Trade Commission claims against them. The FTC illustrates the defendants charge consumers illegal upfront fees and falsely promise to help reduce or forgive student loans. According to the complaint, the individual defendant Dave Green and his companies prey [.]

This update analyzes the trends and patterns in the Consumer Financial Protection Bureau’s publicly available enforcement actions. Leveraging the analysis in our December 2014 White Paper, CFPB.