June 15, 2024

The operation deceitfully pledged loan absolution, prompting the body to enforce an industry ban and seize assets.

In a recent development, the leader of a deceptive student loan debt relief venture has agreed to a settlement proposed by the Federal Trade Commission (FTC). Consequently, the accused faces a permanent industry probation and forfeiture of assets. The settlement addresses accusations related to the swindle wherein the perpetrator and accomplices mislead student borrowers by falsely associating themselves with the U.S. Department of Education. This, they accomplished by falsely vowing to pardon loans under deceptive brands such as “Biden Loan Forgiveness”.

The FTC’s investigation unveiled that the orchestrators of Express Enrollment, LLC, and Intercontinental Solutions, LLC, had illegally garnered approximately $8.8 million in fees.

A couple of months earlier, the FTC had come to an agreement with co-defendants and the corporate bodies implicated, enforcing similar punitive measures. To alert consumers about these fraudsters, FTC offers guidance through its resources available on its website. Additionally, it also provides complimentary assistance for managing student loans online through the Federal Student Aid site.

Join Us in Prayer as the Lord Guides…

  • Pray for the FTC Chairman Lina Khan as well as other commissioners that they may receive divine wisdom to guard consumers against these fraudulent practices.
  • Intercede for COO Richard Cordray and Secretary Cardona as they endeavor to enhance federal student loan support.

Source: Federal Trade Commission

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