Ameritech Financial Cautions Student Loan Borrowers Struggling With Repayment to Be Wary of Get-Rich-Quick Schemes: Heed FTC Warnings

Get Really Rich!

The rise of Amazon's Marketplace has made it easier to make supplemental income with relatively little time invested. How much money can be made selling products on Amazon? According to the Sellers Playbook, a series of workshops that offer "secrets" on how to make a substantial income through the online retail giant, sellers can make over $1 million. The only problem? It's a false claim. The Federal Trade Commission (“FTC”) and the Minnesota Attorney General have taken action against the owners of the company for making misleading statements about potential earnings. Ameritech Financial, a document preparation company that helps student loan borrowers apply for income-driven repayment plans (“IDRs”), cautions borrowers to be wary of get-rich-quick schemes that promise unlimited earning potential.

Get-rich-quick schemes, such as the FTC’s target named the Sellers Playbook, lure people in by promising yearly exponential earnings. The cost they charge to learn the "secret" of success can be thousands of dollars. According to the FTC and MN’s Attorney General, few people (if any) have the ability to make the amount of money the Sellers Playbook advertises. The workshops also have no affiliation with Amazon, despite name-checking the company in their ads. In addition, the FTC says the owners of Sellers Playbook violated the Business Opportunity Rule. This provision requires any business selling money-making ventures to consumers to provide disclosures about how the venture actually works.

Borrowers who are concerned about their ability to make their monthly federal student loan payments may benefit from avoiding such schemes and by looking into federal income-driven repayment plans (“IDRs”) instead. With an IDR, a borrower may be able to lower their monthly payment and potentially have their loan end in forgiveness after 20 to 25 years of remaining in the particular program. Ameritech Financial assists borrowers in navigating and applying for such programs.

About Ameritech Financial

Ameritech Financial is a private company located in Rohnert Park, California. Ameritech Financial has already helped thousands of consumers with financial analysis and student loan document preparation to apply for federal student loan repayment programs offered through the Department of Education.

Each Ameritech Financial telephone representative has received the Certified Student Loan Professional certification through the International Association of Professional Debt Arbitrators (IAPDA).

Ameritech Financial prides itself on its exceptional customer service.

Ameritech Financial Newsroom

Contact

To learn more about Ameritech Financial, please contact:

Ameritech Financial
5789 State Farm Drive #265
​Rohnert Park, CA 94928
1-800-792-8621
​media@ameritechfinancial.com

Source: Ameritech Financial


Categories: Financing and Student Loans, Financial News

Tags: federal student loans, income-driven repayment, side income


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About Ameritech Financial

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Ameritech Financial is a document preparation company that helps borrowers enroll in the federal repayment program that matches their individual financial needs, potentially lowers payments and gets them on track for student loan forgiveness.