Alert number: CA054734_2/2/22(2/23)
The Washington State Department of Financial Institutions (Department) has received a complaint from a Washington consumer against US Financial d/b/a Student Loan Support. The consumer reported receiving a voicemail from “Paul Avery” of “Student Loan Support” notifying the consumer their temporary hardship was ending. In addition, “Paul Avery” stated the consumer was eligible for student loan forgiveness, but had not completed the required documentation. The consumer was encouraged to return the call to complete their application.
US Financial d/b/a Student Loan Support has been associated with the following contact information:
- 24002 Calle De La Plata 3246
- Laguna Hills, CA 92653
- Tel: 866*256*5928
- Tel: 866*246*7309
- Paul Avery
- E-mail: [info@us-financial.org]
- Website: [us-financial.org]
It appears that US Financial d/b/a Student Loan Support may be engaged in an “Advance Fee Scam” and is requiring payment of an upfront or advance fee in order for the consumer to be able to obtain a loan modification or forgiveness. Those offering such services may not collect a fee prior to full and complete performance of the services the person has agreed to perform for the consumer.
The Department warns student loan borrowers:
- Never pay an “upfront fee” to a person or company offering to assist with a student loan modification or forgiveness.
- Do not do business with a financial institution, company, or individual, without making sure that the entity is properly licensed or exempt from licensure.
- Do not give any personal information, such as social security number or bank account number or access, to someone offering to provide you with assistance without verifying license status.
Important Information for Washington Consumer about Third Party Student Loan Modifications
The following act or practices related to third party student loan modification services are not permitted by companies or individuals subject to the Consumer Loan Act:
- Charging an advance fee for a student loan modification.
- Charging excessive or unreasonable fees for helping to get a student loan modification.
- Requiring or encouraging the borrower to waive legal defenses, notice requirements, or cease communications with the borrower’s lender or servicer.
- Making false or misleading statements to the borrower.
- Other prohibited acts listed in RCW 31.04.415.
Report Fraud
- Federal Student Aid, an Office of the US Department of Education has information online regarding common student loan scams. https://studentaid.gov/articles/student-loan-scams/.
- If you feel you have been the victim of a scam, you can contact the Federal Trade Commission at 1-877-FTC-HELP (382-4357) or online at www.ftc.gov; or contact the Consumer Financial Protection Bureau (855) 411-CFPB (2372) or online at www.consumerfinance.gov.
- If the scammers already have your bank account information, social security number, or other nonpublic information, you may be a victim of identity theft and you can take appropriate precautions. The Federal Trade Commission (FTC) has information for victims of identity theft available online at www.ftc.gov.
- If you feel you have been the victim of a scam involving the internet you can also contact the Internet Crime Complaint Center online at www.ic3.gov.
- If you feel you have been the victim of a financial scam and are concerned about your personal financial information, you can contact your banking institution and the three major credit bureaus. Procedures for contacting the credit bureaus are available on the FTC’s website at www.ftc.gov.
- If you live in another state, go to this webpage to find the regulator in your home state. http://mortgage.nationwidelicensingsystem.org/consumer/Pages/AgencyContacts.aspx