|
Student Loan Resource Center
Below, you'll find
extensive information on leading student loan consolidation articles
and products to
help you on your way to success.
Be Aware Of Student Loan Consolidation Fraud
On the whole, there aren't
many thieves willing to target college student graduates because this
is a group notoriously short on money. However, there are some
people who will try to steal from even those who are broke. Loan
consolidation has been given a lot of good press in the last ten
years. Student loan consolidation also has a lot of
advantages. With common sense, you should be able to easily avoid
student loan consolidation scams.
Social Security
Number Scam
One of the reported student
consolidation loan scams involves a telephone call or an email from
famous financial institutions. They claim that they are doing
background checks for your student loans. Sometimes they can find
out the names and phone numbers or email addresses of students who
apply for loans from a particular bank. They then ask you to
verify part or all of your Social Security number.
This student loan
consolidation scam is just a variation of the more common "contact our
security department immediately" spam that has plagued inboxes for
years. The emails even look like they are from the sites or banks
they claim to be from. This most famously happened to users of
eBay or PayPal. They just trick you into giving out your personal
information.
Watch Out For
Other emails, phone calls
or mailings that may be from student loan consolidation scams involve
one or more of the following warning signs:
Interest rates that are too
good to be true
A lot of grammatical or spelling errors
The entire email or letter written entirely in capital letters
Any address of company that you have not contacted first
If You Think You've Been Had
If you suspect that your
student loan consolidation company has taken your money and run, you
need to write down all of the details about your dealings with the
company. You then need to get in contact with not only the Better
Business Bureau, but also with your creditors to let them know that you
believe you are the victim of a student loan consolidation scam.
In 2007, one student loan
consolidation scam posed as a false company in order to bilk the
American government of an estimated $200,000,000. This company
had offices in Africa, Europe and the Americas. You never can be
too careful.
Also, contact your
Congressmen and state representatives about your problems with a
student loan consolidation scam. The governemt is now taking a
very serious stand against this kind of fraud and will need all of the
details they can get in order to successfully prosecute.
|
