FTC stops scammers charged with preying on students seeking debt relief

The Federal Trade Commission has stopped scammers who the agency says facilitated an operation to prey on students seeking debt relief. The agency charges that the defendants pretended to be affiliated with the U.S. Department of Education, used deceptive loan forgiveness promises, and falsely claimed they were offering relief under the “Biden Loan Forgiveness” plan to lure students and collect millions in illegal upfront fees.

According to the complaint, California-based companies Express Enrollment LLC (also doing business as SLFD Processing) and Intercontinental Solutions LLC (also doing business as Apex Doc Processing LLC), targeted students seeking debt relief and collected approximately $8.8 million in illegal advance fees in exchange for student loan debt relief services that did not exist. Read the full press release here.