Bankruptcy Law, Credit, Debt Relief, Student Loans, Timothy Kingcade Posts

South Florida Federal Court Shuts Down Student Loan Debt Forgiveness Company, Freezes all Assets

A student loan debt forgiveness company has been ordered to stop doing business by a South Florida federal court. The court issued a temporary injunction against Student Debt Doctor and its president, Gary Brent White Jr., and froze all assets of the corporation.

The Federal Trade Commission (FTC) has accused Student Debt Doctor and White of violating federal trade and telemarketing laws by promising to reduce or eliminate student loan debt for an upfront fee.

The FTC filed its complaint Oct. 2 seeking an injunction as well as financial relief for the victims. The defendants operated an unlawful student loan debt relief business since January 2014, preying on borrowers’ anxiety in repaying their loans, according to the complaint.

“Defendants often have promised falsely to reduce or eliminate consumers’ monthly payments and principal balances by enrolling them in repayment or debt-forgiveness programs,” the complaint said.

The consumers who signed up for the services discovered that Student Debt Doctor failed to enroll them in a program or reduce or eliminate their debt, even after charging an upfront fee of $750, according to the complaint.  Telemarketers promised borrowers enrolled in the program student loan debt forgiveness in five years or less.

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For borrowers who are struggling with student loan debt, relief options are available. Many student loan borrowers are unaware that they have rights and repayment options available to them, such as postponement of loan payments, reduction of payments or even a complete discharge of the debt. It is important you contact an experienced Miami bankruptcy attorney who can advise you of all your options. As an experienced CPA as well as a proven bankruptcy lawyer, Timothy Kingcade knows how to help clients take full advantage of the bankruptcy laws to protect their assets and get successful results. Since 1996 Kingcade Garcia McMaken, P.A. has been helping people from all walks of life build a better tomorrow. Our attorneys help thousands of people every year take advantage of their rights under bankruptcy protection to restart, rebuild and recover. The day you hire our firm, we will contact your creditors to stop the harassment. You can also find useful consumer information on the Kingcade Garcia McMaken website at