Advertiser Disclosure

Borrower Beware: AmeriTech Financial

You never have to pay for student loan help when plenty of free options exist.
Loans, Student Loans

AmeriTech Financial is one of more than 130 so-called “debt relief” businesses that we’ve placed on the NerdWallet Student Loan Watch List for illegal or questionable dealings.

You never have to pay this company or any other for student loan help. You can get legitimate student loan help for free through the Department of Education or your student loan servicer.

Why we flagged this business

The Federal Trade Commission filed a complaint against AmeriTech Financial as part of an ongoing crackdown on student debt relief fraud — a joint enforcement effort called “Operation Game of Loans.” The 2018 complaint targeted two other connected businesses accused of the same deceptive practices, American Financial Benefits Center and Financial Education Benefits Center, as well as Brandon Demond Frere, the founder of all three companies. American Financial Benefits Center also does business as AFB and AF Student Services.

What about other ‘debt relief’ companies?

The Federal Trade Commission and the Consumer Financial Protection Bureau have been cracking down on “debt relief” companies that rip off student-loan holders, but the agencies struggle to bring action against every business. Such companies often charge borrowers to fill out free government applications, or pocket money paid to service loans. These scams can push borrowers into default on their student debt and leave their credit ruined.

NerdWallet started its Student Loan Watch List in 2017 to flag the student-loan businesses hit by enforcement actions, court judgments or liens, or bad ratings from the Better Business Bureau.

Source: Federal Trade Commission

Sign up for our email alerts to help you protect your wallet. Join the conversation and share your stories with NerdWallet’s investigative team on Facebook.