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SLFD Processing

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SLFD Processing Reports & Reviews (23)

I was in the similar situation. I called my loan servicer, but it routed me if I want loan forgiveness. The lady, called Britney, verify my info by asking for my SSN and did a credit search. I think she even reset my studentaid.gov password. She said their company is approved by Dept of Education.
I felt a bit weird when she asks for a credit card or debit card to put on file. I was asked to sign an application through Clixsign. All the processing seems very easy. Then she said my payment is all setup with autopay for 6 months. I got scared. I then received another phone call from her supervisor for verification.
After the calls, I called studentaid.gov to check if this company is legit. The agent told me there's no record and I should not need to pay anything at all.
So I called both numbers trying to cancel the program. They did have another gentleman called me from cancellation dept. He was trying to explain that their company is legit, and it's like hiring someone to do the loan forgiveness application.
I still told him that I want to cancel the program. I did get a cancellation email.
I thought it would be safer to lock and change my debit card. Even when they try to charge, the money will not be taken.
My friend reminds me to also watch out for any new credit history change. Hopefully my experience can help, so no one else will be scammed.
Almost got scammed
Almost got scammed
Almost got scammed

• May 24, 2023

Any update? was there any other sensitive information that has been compromised since this happened to you?

We had been contacted by this company recently. They said they are going to consolidate the loans so that they would qualify for forgiveness how awful our loan servicer is and they won't do anything to help us and we had to
send my husband's paycheck stub to them so they could apply for the income
repayment and they would do that for 240 payments. We had been told to send them payments. Our bank flagged this as fraud and didn't allow the payment to go through. Our account has been frozen nothing in or out of it our cards don't work. They knew everything about him when they called. We had applied through student loans for forgiveness before we had been contacted. They had knowledge of everything, how did they get our personal information that was sent to Navient? I had added some additional information that I received lately.

+3

My dad received a phone call and then later some mail allegedly from his loan servicer about applying for the student loan cancellation that the Biden admin just announced. My dad gave me the direct number of the agent he dealt with. She alleged that with 6 monthly payments my student loans would be cancelled up to 20,000$. This hinged on my income status and I was sent an email asking for income verification in the form of two pay stubs and tax form 1040 information (which I did not provide). She mentioned my loan servicer by name and also allegedly changed my FSA ID (which I have reported to the FSA). I was transferred to a different agent who took my payment information for the automatic deductions. I realized afterward that things just didn't add up and I went to studentaid.gov to verify my suspicions. I called the initial agent back and told her I was not comfortable with what I signed up for and requested the account be cancelled. She alleged that my request was processed and I would receive a call in 24-48hrs to confirm, I guess. I notified my Dad that this was likely fraudulent and walked him through the same reporting measures.

+1

Scam don’t fall for it doesn’t work with DOE!
Report them to FTC!

+1

Do t fall for their good line of fraud if they contact you for student loan forgiveness they are a scam nothing goes to your loan.
I’ve reported them to FTC and DOE and they are not working for you they must line their pockets with our money.
They want to keep it even if you tell them you know they are a scam!
BEWARE of this site causing me a lot of problems!

+2

I was called by a representative identifying himself as calling from FedLoans in regards to my student loan. They had all of my information and said if I made 6 payments towards my LOAN, that my loan could be forgiven.

1) They are NOT FedLoans nor are they a government agency as they identified themselves as.
2) They are NOT affiliated with the Department of Education as they claim.
3) They do not clearly state on the phone or even in the signed documents, that these 6 payments are their FEES and NOT for the loan.
4) Currently there is NO loan forgiveness program other than applying through the Dept of Education, which I already PREVIOUSLY did.

They managed to charge me a total of $729.15 until I realized all of this is a scam. They also have the audacity to let me know I still owe them 1 payment. They prey on vulnerable consumers with large student loans with their deceptive business practices. I'm filing a complaint with the BBB and other agencies, and recommend everyone here do the same.

+2

I received a voicemail from this scam with a callback number of 213-648-0006.

Yes they call and they are very convincing. They know all of your student loan info. They also know you’re vulnerable. Yes got me for an installment payment . It sounded to good to be true so I checked with the federal loan people. They told me it was a scam. I had to close down my bank account! What a pain that was…? Since they couldn’t get money out of my account they reported me to collections. I took a 45 point hit in my credit score. I am still disputing this inaccurate report. I can’t seem to get the credit agency Espieron to erase this off my record! They claim it’s a legitimate account that shows nonpayment. Nonpayment to a fraudster, that’s rich! I just keep disputing this I don’t know what else to do. I’m glad I found this website to vent. I know now I’m not the only [censored], just a shame these people can get away with this?

+3

SLFD called and told me they could negotiate on my behalf to bring my student loan debt down significantly. I knew I had a large debt and I was happy to get some relief. They had all my information already and asked me to make an agreement to pay $145.83 monthly for 6 months, which I did. Subsequently, I contacted my student loan servicer, NELNET, who told me that they are not affiliated with SLFD. I am now in the process of reporting SLFD as fraudulent and trying to recover the money they have taken, $437.49.

+4

Who did you report to so you can get your money back?

Sj

Hi I’m also doing these payments so now I’m worried myself. were you able to get more information on this?

I got a call this morning from 571-556-5498, and they left a voicemail saying to call back at 213-648-0002. This number connected me with a random person. I asked her how I could be sure that this wasn't a scam, and she told me about how scammers ask for money orders or checks, but her company only asks for debit/credit cards, which are protected from scams within 90 days of payment.
She called herself Shannon Harris and told me that she would be my case manager for student loans, and she gave me her office phone 949-209-5258 and told me that number forwards to her home phone 562-359-8913 and that she works from home due to covid.
She asked me for my email and date of birth, I suspect she did "forgot password" on my FSA. She asked me for the confirmation number from the text, and changed my FSA password. She looked at my account and told me how much money I owe. She asked for my income and how many people live in my house, then she told me what I would be "eligible" for, which involved me starting payments of around $146/month in February, then the government would pay my loans for a few months and I would be told to pay $0.
my mom walked in and took the phone from me and asked some questions. Shannon texted me a link to Obama's Pay As You Earn archive and said that this was a continuation of that policy (despite earlier saying this was about covid). After more talking, the conversation ended with Shannon asking for my credit/debit card and an electronic signature.

+7

I was told by this company, I spoke to Leonel, who said that I was eligible for the teacher loan forgiveness plan and if I just paid $250 for 6 months toward my loan, they assured me that the rest of the loan amount would be forgiven.

They claimed as the DOE that they needed personal information to process my plan, including my social security number, tax returns, as well as a bank account, debit card, or credit card. I immediately canceled my contract and reported them to my credit card company, putting the $250 in dispute. The next day, I received a call from "Michael" who said they would like to cancel my contract and refund my money, but the only way they can do this is if I call my credit card company and drop my disputed charge. They said as long as my dispute is active with the bank, they cannot process my refund. Do not fall for this scam like I did.

+1

I was told by SLFD Processing (I spoke to Leonel), that I was eligible for the teacher loan forgiveness plan and if I just paid $250 for 6 months toward my loan, the rest of the loan amount would be forgiven. They claimed as my loan servicer, they needed personal information to process my plan, including my social security number, tax returns, as well as a bank account, debit card, or credit card. I gave them my ss number and credit card and signed their paperwork, but when I took a closer look, I saw they are not the DOE or my loan officer. I immediately canceled my contract (even their contract says you have a few days to cancel) and I called and emailed to make sure they received my cancellation. I also reported them to my credit card company and put the $250 in dispute.

The next day, I received a call from "Michael" who said they would like to cancel the contract and refund my money, but the only way they can do this is if I call my credit card company and drop my disputed charge. They said as long as my dispute is active with the bank, they cannot process my refund. It's one scam after another with these people.

+3

I was the victim of a student loan forgiveness scam by SLFD Processing. I had been in the process of refinancing my student loan with Navient, so I thought they were affiliated due to the timing of them contacting me. The agent said I qualified for the CARES Act Loan Forgiveness program, which I have since found out is non-existant. I was promised that I would pay $167 for 6 months, and then I wouldn't owe anything for a year. The agent used my login to log into my Student Aid account to look at my student loan info using the “forgot my password” button to gain access and change my password in Student Aid website. After paying a total of $334 for 2 months, I found out that that my loan with Navient HAS NOT been canceled and that I’ve been scammed. I have since closed my debit card and I'm also in the process of reporting this to Navient, the FTC, Student Aid.gov, and the credit bureaus.

+5
- Nashville, TN, USA

This is a third party scammer who claims to eliminate debt after you pay them 6 months, then another 240 months.

They claim they will get a large chunk of your student loan forgiven.

They take your social security #, create a Federal Student Aid log in for you (which only individual account holders can do) and then ask for your checking account info or debit card.

Beware - the only legitimate way to potentially have student loans forgiven is directly through the DOE found in the link below.

https://studentaid.gov/manage-loans/forgiveness-cancellation

+4

This is a scam! Michael sold me and everything he said sounded amazing. Way too good to be true so I made some phone calls after signing two documents (yes I know) after a week I could no longer view those documents I signed because they had expired. Consolidation is great for some people but I did not want to consolidate my loans and after signing those documents they went into consolidation I could no longer find my loans with my provider. I called 4 days in a row left message after message, sent emails to Ronnie who is just the financial guy. And Michael finally returned my calls and when I told him I had no idea where my loans were after signing that paper he said that my loans were now with a new provider and he then provided me with the information. I proceeded to tell him that I wanted to reverse this and he said it cannot be done and after listening to him ramble for 10 minutes I interrupted him and he asked me to let him finish. At this point I am furious so I hung up on him and I called my new servicer and they are hoping to be able to reverse all of this because third parties do not have control over your loans and cannot help you do anything with your loans because it is not up to them.

And of course after I hung up on him and he tried to call me he sent me an email saying that all of my things were deleted out of their database. DO NOT FALL FOR THIS

+5

This company promises to provide relief for student loans. They specifically target individuals who apply for the Student Loan Forgiveness Plan. They smooth talk you to believe that they can get your payments down to nothing after 6 months of payments to their program. It sounds amazing and their logic makes perfect sense. Why pay back a loan the government is going to fully reimburse in ten years? They make you feel good about your career choice. It seems legitimate because they have gained your student loan information seemingly from the Department of Education. IT IS ALL A LIE. They have fraudulently gained your student loan information. All they do is fill out paperwork which you can do for free and will receive automatic notifications to update. You are still required to pay your student loans back no matter what they tell you. Here are some tips to certify that this is a scam: 1) They do not have a login page on their website. The DOE would certainly have a link to your loan information if it is real. 2) All of their testimonials look about 50 years old... Not to judge, but not who I would consider as the representative group of college grads. 3) They respond to every positive comment on BBB. These are obviously false reports which they themselves have written.

Contact the Department of Education to see for yourself: https://www2.ed.gov/about/contacts/gen/index.html

+2

My daughter was contacted by SLFD with the offer to forgive her entire school debt if she just paid 6 months of payments. They had all of her loan information including her ss# and claimed to be from the Department of Education. She had to cancel her information.

+4
- Fernley, NV, USA

I was contacted by this company who said they work with the finical aid to help students with getting into the forgiveness program. As I found out today that this company that says they work with finical aid to help students get into the forgiveness program was a scam and that the school or Finical aide would not charge you anything to see if you qualify for these services. This company had me sign papers witch looked legit and charged me 875.00 over 3 months charging my bank 291.67 every month on the 6th. I was told not only by my school but also by United States of Education that this company SLFD Processing was a scam and that I need to take action to protect myself. This scam has not only effected me but has really got me scared to trust anyone as this company really sounded legit and not scamers. I am out of 538.34 that I could be using to put food on the table for my children. the only reason why I had did everything I did is because I just graduated college and am with out work with 2 children and I was hoping and praying that I could get into the forgiveness progam to where i didnt have to pay back my student loans. I have emails of papers I signed and emails from everyone who has contacted me from this SLFD processing company

+19

I've been in contact with this company recently. I signed papers also to which, I want to know and my binding to them? I have not h
ave any money thankfully. They were to take money out on the 4th of every month starting this month. However I suppose luckily debit card was compromised prior Frozen before I have taken any money out. Am I binded by them? Do you think I can just ignore the phone calls? Have you looked into any other company?

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