Your greeted with smiles and high fives from co-workers nearly every day coming into the office which is always good way to start your day. They do not belong to or represent views of the Federal Trade Commission.The overall tonality at Arete is a very Employee Friendly/Family based environment. Opinions in comments that appear in this blog belong to the individuals who expressed them. To protect your privacy and the privacy of other people, please do not include personal information. The comments posted on this blog become part of the public domain. We don't edit comments to remove objectionable content, so please ensure that your comment contains none of the above. To file a detailed report about a scam, go to. We won’t post comments that include personal information, like Social Security numbers, account numbers, home addresses, and email addresses.We won’t post threats, defamatory statements, or suggestions or encouragement of illegal activity.We won’t post comments that include vulgar messages, personal attacks by name, or offensive terms that target specific people or groups.We won’t post off-topic comments, repeated identical comments, or comments that include sales pitches or promotions.We expect commenters to treat each other and the blog writers with respect. We review all comments before they are posted, and we won’t post comments that don’t comply with our commenting policy.
But keep in mind, this is a moderated blog. Your thoughts, ideas, and concerns are welcome, and we encourage comments. The purpose of this blog and its comments section is to inform readers about Federal Trade Commission activity, and share information to help them avoid, report, and recover from fraud, scams, and bad business practices. And for more resources on student loans, check out FTC.gov/StudentLoans. Spotted a student loan relief scam? Let us know about it. Looking for more tips? Check out this video: If you’re a private borrower, start by talking with your loan servicer. If you’re a federal borrower, start with /repay. There’s nothing a company can do for you that you can’t do yourself for free. Remember: you don’t have to pay for help with your student loans. And all those monthly payments to Arete that never actually went towards borrowers’ loans? That money is gone. Some people’s loans are now delinquent, and their income tax refunds are being garnished. The FTC alleges that Arete’s lies led to very real harm to borrowers.
This cut off contact between borrowers and their loan servicers, so borrowers wouldn’t find out the truth until it was too late. Instead, Arete changed borrowers’ Federal Student Aid (FSA) login ID, password, and contact information with their loan servicer. So how did Arete and its partners get away with it? According to the FTC, borrowers thought Arete was legit – especially because they claimed to work directly with loan servicers and Department of Education. Meanwhile, borrowers were sending in monthly payments that Arete said would go towards the borrowers’ loans – but the FTC is alleging the money really just went into Arete’s pockets. After requiring an illegal upfront fee for their services, Arete usually contacted a borrower’s loan servicer and placed the borrower’s loans into temporary forbearance or deferment status – often without the borrower’s permission or knowledge. But some of these companies don’t deliver what they promise – if you sign up, they take your money and do nothing to help you.Īccording to an FTC lawsuit, Arete Financial Group and related companies did just that. That’s why there are a lot of companies claiming to help permanently reduce and wipe out federal student loan debt. Student loan debt can be a heavy load to carry. Identity Theft and Online Security Show/hide Identity Theft and Online Security menu items.Unwanted Calls, Emails, and Texts Show/hide Unwanted Calls, Emails, and Texts menu items.Money-Making Opportunities and Investments.Jobs and Making Money Show/hide Jobs and Making Money menu items.Credit, Loans, and Debt Show/hide Credit, Loans, and Debt menu items.Shopping and Donating Show/hide Shopping and Donating menu items.
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