The FTC complaints seek monetary relief for those who were misled and to shutter the companies.
, alleging the companies used deceptive claims about repayment programs and loan forgiveness that didn’t exist.
“As Americans struggle with massive student loan debt and uncertainty around the prospect of forgiveness, scammers are looking to cash in,” Levine said in a statement. “These lawsuits to shut down student loan debt-relief schemes continue the agency’s crackdown on junk fees, unwanted calls and financial exploitation.”
Once in possession of their private and sensitive financial information, SL Finance typically collected five “initial” monthly payments of about $200, sometimes followed by monthly payments of approximately $39, the action says.
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