Consumer Alert
Student loan debt relief customers: Take 2 steps
Do you have student loans? Did you respond to an ad from Ameritech Financial claiming to offer you debt relief? The FTC has sued Ameritech for deceptive practices and just sent letters about the case to thousands of customers. The court hasn’t ruled, but there are steps you can take now to make sure your payments are going toward your loans. In addition, Ameritech may have changed your Federal Student Aid (FSA) account information. There are steps you can take to protect your financial privacy.
Here are answers to questions consumers are asking.
How do I know if Ameritech Financial is the company I do business with?
In addition to the name Ameritech, the company uses the names American Financial Benefits Center, AFB, AF Student Services, and Financial Education Benefits Center (FEBC).
I’m making monthly payments to Ameritech. Are those payments going toward my student loans?
No. Your monthly payments to Ameritech do not go toward paying your student loans. And Ameritech does not make payments on your behalf to your loan servicer.
Why is the FTC suing Ameritech?
According to the FTC, Ameritech failed to deliver on its promise that people could permanently reduce their monthly payments or get total loan forgiveness. The FTC also says the company charged illegal upfront fees. In addition, the FTC alleges the company told people their fees would go toward their student loan balances, but that wasn’t true.
Do I need to pay Ameritech to take advantage of loan repayment or forgiveness programs?
No. The Department of Education doesn’t charge borrowers to enroll in repayment and forgiveness programs. That means you are currently paying Ameritech for things you can get for free on your own from the Department of Education.
Can I stop making monthly payments to Ameritech?
Yes. To cancel your membership, call Ameritech at 1-800-792-8621. Canceling will not impact your student loans.
Will I get my money back?
The FTC works to return as much money as possible to consumers. But this case is still in court, so there’s no way to know if it will result in refunds. Legal actions take time, so please be patient. As soon as we have updates, we’ll post them here.
How can I tell the FTC about my experience with Ameritech?
File a report at FTC.gov/complaint. Your information will go into a secure database the FTC and other law enforcement agencies use for investigations. When you go to FTC.gov/complaint, click on: Credit and Debt, then Debt, and then A company offering debt management or credit counseling.
What can I do to protect my financial privacy?
Ameritech may have changed your Federal Student Aid (FSA) account information. So you may want to change your login and review your account. Call Ameritech at 1-800-792-8621 or contact your loan servicer to regain control of your account.
How can I check the status of my loans and the security of my account?
Contact your loan servicer.
I’ve seen other companies claim they can reduce my student loan debt. How can I protect myself from questionable practices?
Visit www.ftc.gov/studentloans. One tip: It’s illegal for companies to ask for money up front for so-called debt relief services. Don’t do business with anyone who makes you pay before getting the results they promise.
Topics
In reply to - I've been paying this by Jamarious
To report your experience to the FTC, file a report at FTC.gov/complaint. Your information will go into a secure database the FTC and other law enforcement agencies use for investigations. When you go to FTC.gov/complaint, click on: Credit and Debt, then Debt, and then A company offering debt management or credit counseling.
In reply to Ameritech has misrepresented by Joy S
To report your experience to the FTC, file a report at FTC.gov/complaint. Your information will go into a secure database the FTC and other law enforcement agencies use for investigations. When you go to FTC.gov/complaint, click on: Credit and Debt, then Debt, and then A company offering debt management or credit counseling.
In reply to To report your experience to by FTC Staff
In reply to I have been paying money to by Ashley K
To report your experience to the FTC, file a report at FTC.gov/complaint. Your information will go into a secure database the FTC and other law enforcement agencies use for investigations. When you go to FTC.gov/complaint, click on: Credit and Debt, then Debt, and then A company offering debt management or credit counseling.
In reply to I have been paying money to by Ashley K
In reply to Same here. I have been paying by Michal
To report your experience to the FTC, file a report at FTC.gov/complaint. Your information will go into a secure database the FTC and other law enforcement agencies use for investigations. When you go to FTC.gov/complaint, click on: Credit and Debt, then Debt, and then A company offering debt management or credit counseling. You can add information about the amount you paid each month.
In reply to I have been paying money to by Ashley K
In reply to To report your experience to by FTC Staff
In reply to I got a letter in the mail. by Anissasweets
To report your experience to the FTC, file a report at FTC.gov/complaint. Your information will go into a secure database the FTC and other law enforcement agencies use for investigations. When you go to FTC.gov/complaint, click on: Credit and Debt, then Debt, and then A company offering debt management or credit counseling.
The comments you put here on the blog do not go into the secure law enforcement database.
In reply to This is all so frustrating! I by A Johnson
To report your experience to the FTC, file a report at FTC.gov/complaint. Your information will go into a secure database the FTC and other law enforcement agencies use for investigations. When you go to FTC.gov/complaint, click on: Credit and Debt, then Debt, and then A company offering debt management or credit counseling.
You can contact your loan servicer to find out the current status of your loans. You can order a free copy of your credit report from each of the three nationwide credit reporting companies. Go to annualcreditreport.com for the free credit reports.
If you see mistakes on your credit reports, you can tell the credit reporting company you dispute them. Read about free credit reports and your rights.
In reply to I told the company rep that I by Unhappy Camper
To report your experience to the FTC, file a report at FTC.gov/complaint. Your information will go into a secure database the FTC and other law enforcement agencies use for investigations. When you go to FTC.gov/complaint, click on: Credit and Debt, then Debt, and then A company offering debt management or credit counseling.
In reply to I got a letter in the mail, by Courtney Lester
To report your experience to the FTC, file a report at FTC.gov/complaint. Your information will go into a secure database the FTC and other law enforcement agencies use for investigations. When you go to FTC.gov/complaint, click on: Credit and Debt, then Debt, and then A company offering debt management or credit counseling.
In reply to To report your experience to by FTC Staff
In reply to I have been paying Ameritech by Krystal E
Please tell the FTC about your experience. File a report at FTC.gov/complaint. Your information will go into a secure database the FTC and other law enforcement agencies use for investigations. When you go to FTC.gov/complaint, click on: Credit and Debt, then Debt, and then A company offering debt management or credit counseling.
The comments you put here on the blog don't go into the law enforcement database.
In reply to I too received a card from by Jcarter
Please tell the FTC about your experience. File a report at FTC.gov/complaint. Your information will go into a secure database the FTC and other law enforcement agencies use for investigations. When you go to FTC.gov/complaint, click on: Credit and Debt, then Debt, and then A company offering debt management or credit counseling.
In reply to I just got the letter in the by Acappychick
To report your experience to the FTC, file a report at FTC.gov/complaint. Your information will go into a secure database the FTC and other law enforcement agencies use for investigations. When you go to FTC.gov/complaint, click on: Credit and Debt, then Debt, and then A company offering debt management or credit counseling.
The comments you put here on the blog do not go into the law enforcement database.
You can contact your loan servicer to find out the current status of your loans.
In reply to I paid for a year the extra by lynnaf
To report your experience to the FTC, file a report at FTC.gov/complaint. Your information will go into a secure database the FTC and other law enforcement agencies use for investigations. When you go to FTC.gov/complaint, click on: Credit and Debt, then Debt, and then A company offering debt management or credit counseling.
The comments you put here on the blog do not go into the law enforcement database. You can contact your loan servicer to find out the current status of your loans.
In reply to I paid for a year the extra by lynnaf
In reply to Thank you for helping us !! by Cindy
To report your experience to the FTC, file a report at FTC.gov/complaint. Your information will go into a secure database the FTC and other law enforcement agencies use for investigations. When you go to FTC.gov/complaint, click on: Credit and Debt, then Debt, and then A company offering debt management or credit counseling.
You can contact your loan servicer to find out the current status of your loans.
In reply to Its terrible to be taken by Gina B
Please tell the FTC about your experience. File a report at FTC.gov/complaint. Your information will go into a secure database the FTC and other law enforcement agencies use for investigations. When you go to FTC.gov/complaint, click on: Credit and Debt, then Debt, and then A company offering debt management or credit counseling.
In reply to I have been paying them for a by Totally Upset
To report your experience to the FTC, file a report at FTC.gov/complaint. Your information will go into a secure database the FTC and other law enforcement agencies use for investigations. When you go to FTC.gov/complaint, click on: Credit and Debt, then Debt, and then A company offering debt management or credit counseling.
You can contact your loan servicer to find out the current status of your loans
In reply to So I got the letter from the by TeTa
The FTC obtained people's names from the third parties that collect payments on behalf of Ameritech and Financial Education Benefits Center (FEBC).
In reply to I’ve been paying this company by Shonda
To report your experience to the FTC, file a report at FTC.gov/complaint. Your information will go into a secure database the FTC and other law enforcement agencies use for investigations. When you go to FTC.gov/complaint, click on: Credit and Debt, then Debt, and then A company offering debt management or credit counseling.
In reply to They took money out of my by kirabing3
The court has not ruled on the FTC's action against Ameritech.
You could tell the FTC about your experience at FTC.gov/complaint, and can give as many details as you remember. It's fine to make a report even if you can't answer every question. You are not required to report your experience to the FTC.
In general, when the FTC is able to return money to people, it may use business records, or public records (like postal address records), or other methods to locate people and current addresses.
In reply to I called today and talked to by Mkp
To report your experience to the FTC, file a report at FTC.gov/complaint. Your information will go into a secure database the FTC and other law enforcement agencies use for investigations. When you go to FTC.gov/complaint, click on: Credit and Debt, then Debt, and then A company offering debt management or credit counseling.