sleaziest consolidation offers?

[Doctor Bagel]

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Members don't see this ad.

I'm currently bombarded with junk mail regarding student loan consolidation, which btw I've have to be a ***** to do because all my pre-2006 loans are consolidated at those long-ago super low interest rates that are no longer available. Anyway, recently the offers have been in the form of rebate checks, but this latest one takes the cake.

I received what was labeled as a $300 MasterCard Gift Card for my "testimonial." There was no information about the company, and the only name mentioned was FFELP, which is just the federal financial aid abbreviation. Well, I searched the number on the offer, and it turns out it's from these people --

http://www.myffelp.com/

Notice how their name makes it look like they're public, giving some more legitimacy to their mailing.

My other favorite are the people who send ads that look like late notices, who also have a name that makes it sound like they're the federal loan people. The first time I got one, I actually got a little nervous and thought maybe there was something wrong with my deferment.

I've decided that these loan consolidation people are actually worse than used car salespeople. 👎

 

[okbye]

Part of the proposed student loan reform legislation is to tighten regulations on what advertising is legal. They want to eliminate those "late notices" and federal logos from any mail ads, among other stuff.

 

[Doctor Bagel]

Part of the proposed student loan reform legislation is to tighten regulations on what advertising is legal. They want to eliminate those "late notices" and federal logos from any mail ads, among other stuff.

That would be great. It's amazing what they're able to get away with, and I wonder how many more gullible people are suckered by bad offers because they call after they get a bogus "late notice" postcard. I went ahead and did the opt out thing for credit-based offers, so maybe that will get rid of some of these things.

 

[okbye]

I think most student loan companies use the credit bureaus for their info, they have an opt out number too. We have to print it on our fliers 1-888-567-8688 or www.optoutprescreen.com. It will keep you from getting those pre-approved credit card offers too.