FTC Sends Reimbursement Related to Student Loan and Mortgage Relief Operation



LOS ANGELES (CNS) – The FTC announced today that it is sending refunds totaling over $ 223,000 to people who lost money to a student loan and mortgage relief operation that was the subject of a federal complaint filed in Los Angeles. …

In a September 2017 complaint, the FTC alleged that A1 DocPrep Inc., Streamlined Marketing and their owner, Horman Ardalan, falsely claimed they were from the Ministry of Education and promised to cut borrowers’ monthly payments or forgive their student loans in exchange for illegal advance payments. …

The FTC also said the defendants pursued troubled homeowners by making false promises that they would provide mortgage assistance and prevent foreclosures.

Refunds are conditional on settlements made by the defendants with the FTC, which also prohibit them from engaging in debt cancellation and telemarketing, and prohibiting them from misrepresenting or making unfounded claims related to other financial products or services, according to the agency.

The FTC announced that it is mailing 136 checks, worth an average of $ 1,641 each, to consumers who have previously filed a law enforcement complaint. People receiving checks must deposit or cash their checks within 90 days as indicated on the check.

Recipients who have questions about their checks can call the Return Administrator, Analytics, at 844-695-0454.

Copyright 2021, City News Service, Inc.


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