(Note that this blog was written before the inauguration but the advice on identifying scams is still relevant.)
Leadership in Washington will soon change, and, unfortunately, some third-party companies are attempting to profit because of it.
Recently, a third-party debt relief company, claiming to be the Department of Education, has been leaving voicemail messages for student borrowers claiming that they must act immediately to qualify for student loan forgiveness before the program is eliminated.
A transcript of the voicemail follows.
This message is from the Department of Education. In regards to Donald Trump becoming President, all programs for student loan forgiveness will be stopped immediately as soon as he takes office in January. In order for you to qualify, you must apply within the next 24 hours or you will not be able to have your student loan payment reduced. Please contact us at 888.307.0680. The number again is 888.307.3680. Once again you must get enrolled within the next 24 hours.
While a number of companies have been shuttered after their exploits came to light, there are many more still looking to part you from your hard-earned cash today by charging you for things you can get for free.
Go to the Source for Debt Relief
If you’re struggling to make a payment, or can’t make one at all the last thing you need is to pay a scam company to help you pursue one of the free options such as deferment or forbearance (which allow you to not make a payment for a period of time).
Instead, call your Servicer today and ask them about options available to you—you’ll get real answers and help without getting hoodwinked.
After all, scam companies just contact the Servicer on your behalf and charge you a fee for brokering a deal you might not want or can’t afford.
Contact the Servicer yourself and take your future into your own hands.
The old adage applies here— if it sounds too good to be true, it probably is.
Student loans are indeed loans, meaning they need to be paid back, but you have options available if times get tough.
Be safe when it comes to your financial future and always reach out directly to your Servicer. If you’re still not sure what to do, contact Champion College Services—we can point you in the right direction and will never charge you a penny for it.
DON’T Pay for Debt Counseling
One call to your Lender or Servicer can usually connect you with the same information and options that scammers will try to charge you for.
If you want to see how you can lower your payment, pay your loan off faster or find a solution if you can’t pay at all—call your Servicer first!