BOSTON (CBS) With an increasing number of college graduates shouldering enormous student loan burdens, consumer protection agencies are warning borrowers about a growing cottage industry of predatory debt relief companies.
Amelia Manni remembers getting a phone call from a company that knew she had taken out student loans to attend Boston University. The company, United Advisors Group (UAG), offered to lower her monthly payments. After 10 years, the $100,000 of debt Manni and her mom had amassed would be erased, the company promised.
It sounded great, Manni told the I-Team. They were lowering my payments by hundreds of dollars per month. Everything seemed legitimate.
Manni signed the contract and paid the initial fees. But…
Read the full article at: http://boston.cbslocal.com/2016/05/10/i-team-beware-student-loan-debt-relief-scams/