#ftc student loan scams

[loansampm]

FTC Reaches Final Settlement in Student Loan Debt Relief Scam – The Presidential Prayer Team - The Presidential Prayer Team

http://dlvr.it/T64L9V

[blogynews]

Unveiling the Startling Reality: FTC Reveals Alarming Scam Threat Targeting Student Loan Borrowers upon Payment Restart

The Federal Trade Commission (FTC) has issued a warning about scammers taking advantage of the upcoming restart of student loan payments in October. After a pause of more than three years, fraudsters are attempting to mislead borrowers by offering fraudulent assistance in exchange for payment, according to Ari Lazarus, a consumer education specialist at the FTC. Lazarus wrote in a consumer alert…

[blogynewz]

Unveiling the Startling Reality: FTC Reveals Alarming Scam Threat Targeting Student Loan Borrowers upon Payment Restart

The Federal Trade Commission (FTC) has issued a warning about scammers taking advantage of the upcoming restart of student loan payments in October. After a pause of more than three years, fraudsters are attempting to mislead borrowers by offering fraudulent assistance in exchange for payment, according to Ari Lazarus, a consumer education specialist at the FTC. Lazarus wrote in a consumer alert…

[blogynewsz]

Unveiling the Startling Reality: FTC Reveals Alarming Scam Threat Targeting Student Loan Borrowers upon Payment Restart

The Federal Trade Commission (FTC) has issued a warning about scammers taking advantage of the upcoming restart of student loan payments in October. After a pause of more than three years, fraudsters are attempting to mislead borrowers by offering fraudulent assistance in exchange for payment, according to Ari Lazarus, a consumer education specialist at the FTC. Lazarus wrote in a consumer alert…

[tumbir-legacies-prized]

Student-Loan Borrowers Lost $8.8 Million Over Debt-Relief Scam: FTC

[howtocreateblogs]

I posted this article on my blog today.

[ademcetinkaya-us]

FTC warns about student loan scams following Supreme Court decision

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[indotrust]

Spongebob diner dash online

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Last week, the game Mobbles was pulled from both the Apple App and Google Android Play stores after the Center for Digital Democracy filed a similar complaint with the FTC. This isn't the first complaint regarding a children's game that the advocacy group has lodged with the FTC. "The FTC take action to ensure that all companies targeting mobile apps to kids are complying with the law," attorney Laura Moy at Georgetown Law's Institute for Public Representation, which prepared the complaint on behalf of the Center for Digital Democracy, said in a statement.

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Avoid Student Loan Relief Scams by Spotting These Red Flags.

Instead, the complaint acts as letter that is urging the commission to investigate the privacy practices of the SpongeBob Diner Dash game. The complaint filed by the Center for Digital Democracy with the FTC will probably not have any legal affect since the FTC does not have processes to file lawsuits. It also found that "only 20 percent of the apps staff reviewed disclosed any information about the app's privacy practices." The report states that there is "little or no" privacy information available to parents from app vendors or in the Android Google Play and Apple iOS app stores. The Center for Digital Democracy's complaint comes on the heels of a FTC report on mobile apps for children that was published last week. However, the Center for Digital Democracy says that the app does not provide "notice to parents or obtain prior parental consent, as required by the Children's Online Privacy Protection Act." Technically, COPPA only applies to children under 13 years old, so many app makers get around this issue by saying they're targeting older children. According to the New York Times, the app description said it gathered "personal user data as well as nonpersonal user data" and "user data collection is in accordance with applicable law, such as COPPA." It does not ask for a home address or phone number. Krabs.Īpparently, the game is collecting users' e-mail addresses with promises of sending them a future newsletter.

#Spongebob diner dash online free

SpongeBob Diner Dash is a free app marketed to children, in which popular cartoon character SpongeBob SquarePants must "seat, serve and satisfy even the squirmiest of patrons" and cater to the greedy Mr. Nickelodeon has removed the app from the store after an advocacy group filed a complaint with the Federal Trade Commission alleging the game violated children's online privacy rights by collecting their e-mail addresses without parents' permission.Īccording to the Center for Digital Democracy, which filed the complaint earlier today, cable network Nickelodeon and mobile game-maker PlayFirst are misleadingly marketing the game and are violating the Children's Online Privacy Protection Act (COPPA).

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Anyone wanting to download the SpongeBob Diner Dash game from Apple's iTunes app store today is out of luck.

[gift-and-tips]

latest Student Loan Forgiveness Scams to Avoid 2022 | #giftandtips.com

Student loan consolidation scam, Student loan debt elimination scam, Advance fees scam, Lawsuit scam, Student loan forgiveness scams, student loan and savings company reviews, student loan forgiveness program, student loan forgiveness organizations, student loan forgiveness 2022, national student loan center, student loan support phone call, Understudy loan pardoning tricks have been an issue…

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Do-It-Yourself Credit Repair: Fix Bad Credit On Your Own In 6 Easy Steps

Don't fall for scams promising easy, overnight credit repair. If you want to fix your poor credit, you can (and should) do it yourself. Follow these six simple steps to do-it-yourself credit repair.If you’ve had an overdue student loan, years of high credit card balances, collections accounts, or even a foreclosure, unfortunately, you probably have below-average or bad credit.

With poor credit, you may not be able to get approved for new credit products like credit cards. Although you may still be able to take out an auto loan or a mortgage, you’ll pay a much higher interest rate because of your low credit score. Compared to a borrower with good credit, someone with poor credit can pay $50,000 more in interest on a mortgage. Over an entire lifetime, you could end up

paying over $200,000 more in unnecessary interest

just because of bad credit.

The good news is—as you should know if you’ve read Money Under 30 for a while—that you can repair your credit score all on your own. It just requires a little bit of know-how and a good bit of patience. Here are six steps towards building better credit.

What’s Ahead:

6. Don’t apply for new credit

1. Figure out where you stand

Before you begin do-it-yourself credit repair, you’ll want to get copies of your full credit reports from all three bureaus (Experian, TransUnion, and Equifax).

You can get your reports truly free, once a year, at www.annualcreditreport.com or by calling 1-877-322-8228. Other websites may claim to offer free reports, but the Federal Trade Commission (FTC) warns that these offers are often deceptive.

You can also try free credit score tracking apps Credit Karma or Credit Sesame to get a sense of where you stand.

Credit scores range from 300 to 850. A score of between 700 and 740, depending on the scoring method used, is considered “good credit” and usually enough to qualify you for the best credit cards and lowest mortgage rates.

Related: How Credit Works: Understanding Your Report And Score

2. If you find errors, dispute them

The next step in credit repair is to dispute incorrect information on your credit report.

Errors aren’t common, but they happen. Of course, sometimes bad credit is just your fault. You shouldn’t try to argue accurate information, but if you do see errors–even small ones—it’s worth cleaning them up. Here’s how:

Once you have the copy of your full credit report in hand, check your identity information (Social Security number, spelling of your name and address), and credit history.

Review the list of credit cards, outstanding debts, and major purchases. If you see any mistakes or questionable items, make a copy of the report and highlight the error.

Next, gather any information that you have to back you up, such as bank account statements, and make copies of these as well. This is important! The credit bureaus won’t do anything without proof.

Write a letter to the specific credit reporting agency that shows the falsehood, whether it is Experian, Equifax, or TransUnion. Explain the mistake and include a copy of the highlighted report along with your documentation. Although certain bureaus now let you submit disputes online, it’s not a bad idea to send this letter by certified mail, and keep a copy for yourself. The reporting agency has 30 days from the receipt of your letter to respond. The Federal Trade Commission provides advice on contacting the credit bureaus about discrepancies. Here are the contact numbers and web sites for the three credit bureaus:

Experian: 1-888-397-3742 – www.experian.com

TransUnion: 1-800-916-8800 – www.transunion.com

Equifax: 800-685-1111 – www.equifax.com

3. Stop the bleeding

Once you deal with any errors on your credit report, it’s time to ensure you’re not still spending more than you can afford each month.

Why is this so important? It’s because are only three simple things to do to repair bad credit:

Pay all of your bills on time

Pay down debt (especially credit card debt)

Avoid applying for credit

But before you can do these things, you need to make sure you’re not spending more than you earn—you need a budget.

To start, review your tax returns for the past two years to get a sense of how much money you actually take home in a year.

Subtract your regular monthly expenses (rent or mortgage, car payments, and home, car and health insurance) from your current income.

Next, estimate your monthly spending habits for other expenses such as gas, groceries and entertainment. Create a limit, based on your income, of what you can spend in each of the different categories of expenses. For example, if you tend to spend $400 a month on groceries, try to stick to $300 a month on groceries by making changes like buying generic brands, using coupons, and resisting impulse purchases.

4. Pay all bills on time going forward

If you want to fix bad credit, you need to start paying all of your monthly bills on time, period!

If you’re behind on any bill, get caught up as soon as you can. On-time payments are the single most important factor to your credit score. Simply put, your credit won’t improve until you can consistently pay every bill on time.

One downside of this is that you don’t get credit for basic bills like your monthly phone and utilities. Experian Boost can help with that. The free service links your bank account to Experian to monitor your monthly payments. On average, customers have enjoyed a 13-point FICO score increase using this service.

5. Pay down credit card balances

Take charge of your credit cards by paying down their balances.

If you have any outstanding balances, make room in your budget to pay down these debts bit by bit, every month until they are gone.

Know your credit limits and make every effort to stay well under the maximum when charging items.

That’s because credit bureaus analyze your debt load as a ratio. If you charge $500 on a card which has a $1,500 limit, you’ve used 33 percent, which is better for your credit score than charging the same amount on a card which has a $1,000 limit (50 percent), both of which are better than being maxed out (100 percent).

Related: Big Fat Guide to Getting Out of Debt

Pay these credit cards down, but don’t cancel them. The total amount of available credit affects your score, even if you owe nothing.

6. Don’t apply for new credit

Finally, resist the temptation to open a new credit card, even when a store offers a discount on your purchase for doing so.

Each time you apply for credit is listed on your credit report as a “hard inquiry” and if you have too many within two years, your credit score will suffer. In general, a consumer with good credit can apply for credit a few times each year before it begins to affect their credit score. If you’re already starting with below-average credit, however, these inquiries may have more of an impact on your score and delay your ultimate goal of watching your credit score climb.

When the dust settles, consider a unique way to build your credit like Self Lender.  Self Lender offers four different types of loans, each which you pay down monthly.  At the end of the term, Self Lender sends you back the initial term of the loan, minus interest and a small application fee.  Each month you make a payment, they’ll report to good behavior to the credit bureaus and you’re credit score and profile will likely improve.  The initial application may drop your credit score, but if you make all payments (to yourself) on-time, it should increase.

Experian Boost™ is another way for people with a poor or limited credit history to get ahead. Many times, these people will have a positive, consistent record of paying utilities on time, but those payments aren’t being included in their credit profile. Experian Boost™ allows people to include this payment history to their credit score. Best of all – it’s completely free.

Disclaimer – Results may vary. Some may not see improved scores or approval odds. Not all lenders use Experian credit files, and not all lenders use scores impacted by Experian Boost™.

Summary

Start by looking at your credit reports to get a sense of where you stand.

If you see any errors, dispute them with the credit bureaus. Then, focus on paying down any credit card debt while making every bill payment on time. In the meantime, do not apply for new credit. Basically, in order to repair your credit, you will need to limit your use of credit.

It may take months or even a couple of years for your credit score to improve, but if you plan on buying a new home, or taking on any other big debt, it’s well worth it.

[itsasif007-blog]

If You (Like Me) Continue To Get Scam Calls About Student Loans, Here's What To Do When The Next One Comes

If You (Like Me) Continue To Get Scam Calls About Student Loans, Here's What To Do When The Next One Comes

Recently, the Federal Trade Commission (FTC) issued a warning that scammers are taking advantage of the new student loan forgiveness plan by targeting borrowers who are desperate for relief. And sure enough, on subreddits like r/Scams, people are sharing stories about how these predatory scammers tried to use their debt against them. 07:25 PM – 29 Aug 2022 Twitter: @FTC In case you somehow…

[cassh24sg]

Congress tackles payday lenders after SCOTUS lets them off the hook – People’s World

Rep. Jan Schakowsky, Illinois Democrat veteran, is leading the indictment in Congress to correct the damage wrought by a Supreme Court ruling that allows payday lenders to defraud customers. | AP photos

WASHINGTON: Well, that didn’t take long.

A week after the US Supreme Court unanimously awarded a major legal victory to one of the seediest sectors of the business class, payday lenders, lawmakers took up the verdict’s proposal, Judge Stephen Breyer, to reverse the victory .

So consumer advocates got together to call on the House of Representatives Consumer Protection Subcommittee on April 27 to do so.

They witnessed how payday lenders treat consumers with triple-digit interest rates and interest accrued on interest. And they called on lawmakers to restore the Federal Trade Commission’s authority to impose heavy fines on such crooks and rip-offs.

And witnesses backed HR2668, panel chairman Jan Schakowsky, D-Ill., And Rep. Tony Cardenas, D-California, to give the FTC express authority to financially beat up the crooks.

Payday lenders are notorious for lending poor people and workers, often colored people who live from paycheck to paycheck, money by lending them money that goes against those checks. The annual interest rates are in the three-digit or higher range. AMG – the payday lender who sued the FTC–In the example given, Breyer calculates monthly interest of 30%.

HR2668 and the hearing cheered the National Consumers League, which has campaigned against the scourge of payday lenders for decades. The court’s April 22 ruling “puts the interests of a convicted fraudster above the needs of victims of fraud,” said John Brevault, vice president of public order for the Labor Party-backed consumer group.

“We are incredibly discouraged by the decision to deprive the FTC of one of its most effective tools to reclaim ill-gotten gains from criminals. This decision will encourage the criminals who defraud millions of consumers annually, costing them billions of dollars and immeasurable emotional damage.

“Practically every day we hear from fraudsters whose financial lives have been ruined by fraudsters. Consumers need and deserve a consumer protection agency with the power to make them whole. Congress should urgently pass legislation restoring the FTC’s authority to receive compensation on behalf of victims of fraud. “

The judges had overturned a $ 1.3 billion FTC fine against payday lender Scott Tucker and his firm AMG Capital Management. The fine was equivalent to the amount AMG removed from consumers between 2008 and 2012. Aside from Tucker charging 30% monthly interest on a typical $ 300 loan, Tucker, now taking the time to extortion, would pile up the fees, interest on interest – and principal – month after month, just like the rest the branch.

Only in this way could the consumer avoid such massive financial weight: deciphering the legalistic small print in the AMR loan agreement. This pact said that the only way to opt out is to not only pay off the entire loan after a month, but also to refuse in writing that AMR can transfer it.

Breyer wrote that the FTC went too far and misinterpreted section 13 (b) of its 107-year-old law to justify its heavy fines against AMR and similar scammers. He said the section allowed the FTC to seek injunctions against such practices, but that is all. It could use a different section and lengthy process to seek unspecified minor fines to prevent potential financial exploitation rather than reclaiming past damage, he added.

Not enough to stop them

Witnesses and lawmakers said this was not enough to stop payday lenders.

“For decades, the Federal Trade Commission has protected consumers by seizing stolen money and returning it to victims of fraud,” said Schakowsky. The court benefited “scammers and criminals everywhere”. HR2668 “will restore authority to the agency to assist victims of fraud and scams” and “get money back into the pockets of hardworking Americans”.

Based on recent and previous judgments that also hampered the FTC: “The agency that is supposed to protect me – and my 86 year old mother and teenage daughter and my former students who are now in the military – no! has more of the tools to get his job done, ”said Ted Mermin, law professor at the University of California. It is also tight on staff, he added.

Without the power to collect the heavy fines, “the FTC is unable to perform its most basic function: getting money back for the people from whom it was illegally taken,” added Mermin, who also runs the California Low-Income Consumer Coalition directs.

As the U.S. coronavirus pandemic is overcome, the need for a robust FTC is growing, he warned. As the economy recovers from virus shutdowns, “We will continue to be besieged by unfair and fraudulent practices of all kinds. They will be particularly aimed at seniors, veterans, low-income communities, colored communities and mom and pop businesses. “

The FTC’s “need for public enforcement capacity” is “acute” because 90% of low-income people cannot afford to hire private lawyers to prosecute fraudsters and because legal clinics are overburdened and understaffed, Mermin said.

Despite not giving testimony to the panel, the Chamber of Commerce was expected to have sided with payday lenders and other corporate fraudsters.

“The FTC is advocating a change in the law on the pretext that it needs the appropriate tools to combat ‘fraud’,” said the corporate lobby. “However, instead of calling for a legislative solution that would allow the agency to respond to such obnoxious practices, the FTC wants” a major extension of its powers “to” seek monetary damages in general. “

That statement inadvertently pointed to the real ramifications of the court ruling: that it allowed all businesses, not just payday lenders, to engage in such practices without being put off by the FTC with hefty fines – a point USPIRG in citing his denunciation of the decision.

EMPLOYEE

source https://www.cassh24sg.com/2021/06/28/congress-tackles-payday-lenders-after-scotus-lets-them-off-the-hook-peoples-world/