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FTC Sends Checks to People Who Paid for Student Debt Relief

The FTC is sending checks totaling $3.3 million to 37,844 people who paid money to Arete Financial Group, a student loan debt relief scheme that charged illegal upfront fees for debt relief and regularly failed to deliver. The FTC sued Arete Financial and related companies, and the defendants agreed to settle.

According to the lawsuit, the defendants pretended to be affiliated with the U.S. Department of Education, falsely promised to reduce or eliminate monthly student loan payments, and charged consumers illegal upfront fees and recurring monthly fees.

The settlements required the defendants to pay money to provide refunds and banned them from the student loan debt relief industry.

If you get a check, please cash it within 90 days.

You can find answers to common questions about FTC refund payments on our FAQ page. If you have any other questions, please call the refund administrator at 855-678-0558.