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Started by malca002, April 07, 2016, 04:57:56 pm

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Hey guys,
I recently came across a "Loan debt relief" company through a friend. I called them and they seemed very helpful with consolidating my loans and with all the stuff I wanted to get my loan issue resolved. The company is called "Nationwide Student Loan" and on their site it says "A professional document preparation company". I've heard about all these scams and I just want to know if this is a legit company or not I am a little worried they just took my money. They are charging $159.80 for 5 months for "accrued interest" and as a "consolidation fees" and that later on my payments will only be $10 a month for 240 months. I googled them and everything. They supposedly have a great BBB accreditation and score. I am still a bit worried because I already paid them some money and they want me to send them a "Power of Attorney" to negotiate for me.

Thanks in advance.


Chances are, they will do the work requested, so they are not truly a scam. However, you are paying them $799 to fill out two forms that are similar to a job application, which you can do for free.

It sounds like all they are doing is signing you up for Income Based Repayment and Consolidating your Loans. Both are free programs offered to Federal student loan borrowers. If you can fill out a job application, you can easily apply online for free at StudentLoans.gov.

Here's a full article that breaks it down: https://thecollegeinvestor.com/16429/is-your-student-loan-repayment-company-a-scam/