Every day, false promises of help lure in young college grads anxious to pay off their loans. So-called debt-relief companies make bold and sometimes misleading offers to the grads by charging for a service they could have easily performed themselves. One company offers “Obama’s new loan forgiveness program,” which doesn’t even exist. College grads who…
By Paul Lewis Do your debts keep you awake at night? Are they the first thing you think of when you wake? If so, then you urgently need advice but be very careful from whom you get it, as there are dangers. High Upfront Fees I was reminded of the dangers of using a commercial…
(Michael Fleshman, CC BY-SA 2.0) Using deceptive ad slogans like Obamas New Forgiveness Program and We Work for the Department of Education, private companies are charging student-loan borrowers for services that falsely claim to provide debt relief, forgiveness, and consolidation. The pervasiveness of these so-called debt-relief companies is a growing problem for millions of borrowersa…
Anthony Alexander found himself $8,000 in debt from hospital bills and other expenses last year when a commercial for United Debt Services, a Frisco-based debt settlement company, came on his mom’s TV. Its claim? It will get you out of debt. Alexander, a 33-year-old mailman from Little Rock, signed up in February 2015 and paid…
By Reuters Published: 11:43 +10:00, 17 August 2016 | Updated: 11:43 +10:00, 17 August 2016 By Guillermo Parra-Bernal SAO PAULO, Aug 16 (Reuters) – Banks and bondholders accounting for more than half of Oi SA’s debt of 65.4 billion reais ($20 billion) are considering proposing a 5-year grace period and lower borrowing costs to speed…
You’ve seen ads offering lower student loan monthly payments and even debt forgiveness. You’re skeptical, but one small part of you hopes that maybe, just maybe, there is a way to get help paying off your student loans. The ad might even call it the “Obama Student Loan Forgiveness Program.” Help paying off a student…
Anthony Alexander found himself $8,000 in debt from hospital bills and other expenses last year when a commercial for United Debt Services, a Frisco-based debt settlement company, came on his mom’s TV. Its claim? It will get you out of debt. Alexander, a 33-year-old mailman from Little Rock, signed up in February 2015 and paid…
What $100,000 in student debt feels like You’ve seen ads offering lower student loan monthly payments and even debt forgiveness. You’re skeptical, but one small part of you hopes that maybe, just maybe, there is a way to get help paying off your student loans. The ad might even call it the “Obama Student Loan…
By Katie Lobosco Published 08/16 2016 03:05PM Updated 08/16 2016 03:05PM Copyright 2016 Cable News Network/Turner Broadcasting System, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. NEW YORK (CNNMoney) You’ve seen ads offering lower student loan monthly payments and even debt forgiveness. You’re skeptical, but one small part of…
Debt relief companies capitalize on borrowers who fall behind on their loans. Whether it’s credit cards, auto loans or student loans, the promise to help people with their debt is a siren call for people who have lost control of it. Student loan debt relief companies are plying an especially insidious trade. They charge borrowers…