![]() Hillman said, "The refinancing process may provide ‘relief’ by offering borrowers lower interest rates or possibly other benefits, but these also come at a risk." For example, if a borrower refinanced a federal student loan to a private company such as SoFi, that borrower would lose all the benefits that come with holding a federal loan. These companies normally negotiate unsecured debts such as student loans or credit card debt, but not loans that have collateral, such as auto loans and mortgages. In exchange, customers pay a fee for the service. Debt settlement companies such as this one, help resolve debt to avoid bankruptcy, by negotiating agreements with creditors to pay less than the full balance. The Facebook post includes a link to this page from a private company called Freedom Debt Relief. ![]() Nick Hillman, University of Wisconsin-Madison education professor who studies the effect of finance, policy and geography on educational opportunities in the U.S., said that "the word ‘relief’ can be really confusing and misleading because I imagine most people would think ‘relief’ is the same thing as ‘cancellation.’" The Federal Trade Commission recommends consumers who see these kinds of pitches check whether the associated website ends in ".gov," which signifies that it is legitimately a federal government program, an agency spokesperson said. Second, the post refers to something called the "American Debt Relief" program, which sounds like a federal government program, but isn’t. It is set against a split screen showing video of the supposed debt-relief email. That scene appears to be clipped from a 2019 TikTok video showing a prospective Tulane University student receiving news of her acceptance. (Read more about our partnership with Meta, which owns Facebook and Instagram.)įirst, the family in the video is not screaming over debt relief. This post was flagged as part of Meta’s efforts to combat false news and misinformation on its News Feed. And promises to get it relieved are tempting.Ī Facebook post claims to show a family receiving news that their own debt had been cleared through a debt relief program for American citizens or legal residents who "have over $20,000 in (credit card) debt."įootage shows the family screaming with joy after appearing to view an email that says its $31,844 credit card balance has been resolved and that "no further payments are due." The sender of the email signs as "Finance Help USA." Learn more about SmarTrip on mobile devices ⇾Ĭustomer comment form or by calling (888) SMARTRIP (88), Monday through Friday, 7 AM - 8 PM EST.Debt among American households reached a record high at the end of 2022. Mobile Pay - hold your mobile device above the reader at a rail fare gate, bus fare box, or Metro-owned parking garage target.Learn more about using plastic SmarTrip® cards ⇾ Plastic cards - tap your SmarTrip card to the circular targets on a rail fare gate, bus fare box, or Metro-owned parking garage target.In addition to Metro trains, buses, and garages, SmarTrip is also accepted on ART, DASH, Fairfax Connector, Cue, RideON, TheBus, DC Circulator, Loudon Country Transit, and Potomac and Rappahannock Transit/PRTC.Balance Protection if your plastic card is lost or stolen.Auto Reload and never worry about reloading again.Contactless mobile payments on your smartphone and watch.One payment method for rail, bus, and parking. ![]() SmarTrip® is how to pay for fare on all Metrorail stations in DC, Maryland and Virginia, Metro parking garages and lots, Metrobus routes, MTA, and partner regional bus providers.
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