The Trump Administration Has Yet to Approve a Single Student Debt Relief Claim – Mother Jones

Susan Walsh/AP For-profit college magnates Corinthian Colleges and ITT Technical Institute shuttered operations in recent years after facing state and federal investigations into fraudulent and predatory practices. After the school chains closed, tens of thousands of students who borrowed money to attend them found themselves with worthless diplomas and saddled in debt. The Department of Education under…

Freedom Debt Relief Promotes Jason Pack to Senior Vice President of Operations – PR Newswire (press release)

In his new position, Pack will be responsible for customer service, payment operations, settlement negotiations and underwriting. Based in FDR’s Tempe, Arizona, office, he will manage the company’s fast-growing operations. FDR recently became the first company in its industry to surpass the $7 billion mark in total consumer debt resolved, and continues to grow at…

Pressure mounts for Betsy DeVos to address the backlog of 87,000 … – Washington Post

Senate Democrats are urging Education Secretary Betsy DeVos to process the debt relief claims of 87,000 federal student loan borrowers. (AP) Senate Democrats are urging Education Secretary Betsy DeVos to forgive the federal student loans of borrowers who were defrauded by their colleges, as the number of debt relief claims at the Education Department grows. The Washington Post reported…

Freedom Debt Relief: CFPB fundamentally misunderstands debt settlement process – HousingWire

Last week, the Consumer Financial Protection Bureau sued Freedom Debt Relief, the nations largest debt settlement services provider, claiming that the company repeatedly lied to its customers about the companys ability to negotiate debt settlements. According to the CFPB, Freedom Debt Relief collects fees from customers without settling their debts as promised, makes customers negotiate…