Panda Benefit Services, LLC., FTC v. - In June 2024, the Federal Trade Commission announced that it took action to stop Prosperity Benefit Services, a student loan debt relief[...]

Tags:

• Consumer Protection
• Bureau of Consumer Protection
• Debt Relief
• Education
• Imposter
• Debt

In June 2024, the Federal Trade Commission announced that it took action to stop Prosperity Benefit Services, a student loan debt relief scheme that the agency says bilked more than $20.3 million from consumers seeking debt relief by pretending to be affiliated with the Department of Education. The FTC also charged that the company and its operators falsely claimed that they would take over consumers' student loans to get them loan forgiveness that did not exist. A federal court temporarily halted the scheme and froze its assets at the request of the FTC, which seeks to end the defendants' deceptive practices.

PRESS RELEASE: FTC Acts to Stop Student Loan Debt Relief Scheme that Took Millions from Consumers in First Case under the Impersonation Rule