Victim Location 33896
Type of a scam Credit Repair/Debt Relief
I received a letter by mail about a student loan consolidation having until July 08 2020 to receive there benefits. I called to assure the benefits, they said that I had to pay $799 to consolidate and also, they said to me it would be $39 for my monthly payment. They ask for my bank info and foolish of us that we fell for it. We find out later on that this is not a legit company and they are fraud. We need help on getting our money back and get justice!!!.
Victim Location 60438
Type of a scam Credit Repair/Debt Relief
I opened an account with Amerifed today December 7th, 2020 misled, and under the impression that it was the Department of Education (DOE) Services. They sent a letter in the mail stating it was a final notice to consolidate my school loans. Like the rest of the complaints, they lie and mislead you to believe they are with the DOE, but they are in fact, a third-party company that charges for services that I could have received for free from the actual Department of Education.
They will give you a payment plan to either pay $299 3 times bi-weekly, or save $100 and pay $399 twice bi-weekly in order to pay your "reduced document fee". After that, you pay $39/mo for 240 months and the rest of my student loans would be forgiven. It sounds good at first, because they say that they are closing all of your current FedLoanServ accounts and combining them into one new account and that’s where your "reduced document fee" and $39/month x240/months goes. Overall, I would end up paying about $10,000 in total for my student loan debt vs. $50,000>, so it will be a big credit booster if it were true. They said the $39 was based on my income, but now looking back they never had any information on how much I made (check stubs, etc.) so they gave everyone the same script. My representative was Cameron. On the letter they knew exactly how much I owed in student loans already, so I thought it was legit through the DOE. I also did not approve of the company having access to enter my FAFSA account. Again, I was manipulated into thinking that they were the Department of Education and already had my information and was verifying my identity with the code sent to my phone from FAFSA. But in actuality, you guys already had my email address, used the code to change my password, gained access to my FAFSA account once I repeated back the code, and read to me and verified my personal information which I did not approve.
I did not notice until after the phone call that the documents were labeled "Amerifed DocPrep" and nowhere did it say the Department of Education. I started doing more digging and found the horror story of reviews. I immediately called Cameron and said I wanted to cancel this program and any future payments from coming out of my account due to me believing that this was the DOE not a third party, and I can consolidate my loans directly through the DOE. He tried to get me to stay but I refused. He then gave me the customer service phone number that I called over 10 times today and they did not answer. I left a voicemail. I then proceeded to follow the cancelation procedure that states I had 3 days after the documents are signed to stop my program. It had only been 2 hours so I shouldn’t have any problems. I then sent them a written statement to cancel. They responded back a few hours later stating,
"REGGI,
Your Department of Education program has been cancelled along with scheduled payments and information provided…"
I have also notified my bank account and got new bank accounts and cards. I change my FAFSA passwords and security questions. I plan on calling a credit bureau in the morning to report it to them and flag it. I am most scared that they have my social security number.
Overall, I am glad I caught it early, but I am very shocked that they are still scamming people after all these negative reviews and complaints.
Victim Location 11357
Type of a scam Credit Repair/Debt Relief
I received a letter in the mail stating i could get student loan consolidation and forgiveness. The letter had no business name or address and seemed to be an official document. I called and was told they would be able to lower my student loan payments and consolidate into one loan. I was forced to agree to pay $899 for the document prep service they provided. Luckily i was able to stop it in time from them taking any money from me but now they have my social, address, bank account and routing number and my fafsa id. I changed all i could to prevent them from doing any more harm to me.
Victim Location 50208
Total money lost $336.33
Type of a scam Credit Repair/Debt Relief
I received a letter that had a final notice, never received notices before that one so that was strange. I called and they said I was eligible for student loan forgiveness and would only have to pay a loan processing fee of 1099.00 and it showed a digital check in my account from Amerifed. This is all i have received and gave them a call to change my next payment and they did get that changed for me. They told me in the beginning that they were with the federal student loan department but in their letter they state that they are not affiliated with the government. I am going to call and see about canceling they state that they would fully refund me within 30 days of my first payment.