Have you heard the radio or television ads offering student loans “debt relief” by offering free access to government programs?
Some of these firms charge borrower’s fees as much as $1,600.00 per month in fees for services that are free on the internet.
The Consumer Law Center used mystery shoppers to contact student loan relief companies, analyze websites, and review the contracts and consumer complaints. You would be stunned by what they found!
What are the Ways That These Companies Deceive Student Loan Borrowers?
The investigation revealed that:
- A majority of student loan relief companies surveyed didn’t inform the potential clients that their “products” were free from the government.
- The companies held themselves out as unique experts on student loans. They even had web sites which are full of inaccuracies.
- Many companies give inaccurate information about options and try to steer potential clients they offer most into student loan consolidations. Loan consolidations are rarely the solution for student loan borrowers. In fact, you should have an individualized and tailored analysis student loan debt and be provided with an individual and personalized solution to your debt. Consolidation is not the one stop answer!
- Many student loan relief companies falsely told callers that they were an “approved servicer” with the Department of Education.
What Should I do if I am Having Problems Paying my Student Loan?
Rather than contacting student debt relief firms who run television and radio ads, it is time to talk to a student loan lawyer who specializes in analyzing your unique situation and providing you with an individualized road map for the solution of your student loan problems.
There is a complex interaction between student loans and the available repayment plans. It takes an expert to analyze your personalized situation and provide you with a clear path financial stability.
Isn’t it time you get your student loans under control and see a path to the future! Contact student loan attorney Nancy Cavey at 727-828-9955 and get your road map to relief. We accept cases all over the United States.