Until the Federal Trade Commission (FTC) obtained a temporary restraining order in April, two businesses were making an attractive claim: They could help people eliminate their student loan debt.
The companies, New Education Relief and Edvantage Relief, cold-called people — even individuals on the national Do Not Call registry — and claimed to be affiliated with either the U.S. Department of Education or student loan companies. They typically charged an upfront monthly fee, sometimes as high as $1,400, and collected at least $8.8 million in revenue, according to the FTC.
“I thought it was legit, and I paid over $3,000 until I found out the…