Scammers Using Streaming Trends, Extending Deferred Student Loans To Their Advantage


GREEN BAY, WB (WBAY) – We’ve been glued to our TVs more than ever during the pandemic – streaming content, the frenzy of watching a favorite series, and more.

Scam artists are following these trends, however, and now the Better Business Bureau is getting reports in its online scam tracker of people posing as cable TV and internet companies, and the calls can sound pretty convincing.

Many crooks use the same music on hold as known cable companies, and even duplicate the company’s call menu.

Scammers may claim that you are getting a discount because you overpaid on a recent invoice or are offering a special promotion.

To get the offer, you must pay several months in advance using a prepaid debit card.

Legitimate businesses don’t ask you to pay with prepaid cards or gift cards.

If you’re not sure about an offer, get the customer service number on your last bill or your business website and call to make sure the offer is real.

In addition, the crooks also use to their advantage the interest free extension on student loans for the remainder of the calendar year.

The extension is part of the CARES Act, and borrowers with federally-held student loans will automatically receive a six-month forbearance retroactive to March 13 for qualifying loans.

No payments will be due and no interest will accrue during the forbearance period, which previously lasted until September 30, but was extended to December 31 after President Trump signed an executive order to extend the period.

All direct debit payments are automatically suspended, but borrowers may wish to cancel their automatic payment by using their provider’s website to ensure that the money has not been deducted before the suspension is implemented. If it has been deducted, borrowers can request a refund.

Officials say that due to automatic forbearance, borrowers will need to be aware that their repayment terms may be extended, so the final payment date could be six months later than originally expected.

“What’s important to know – if someone calls you and says, ‘Do you want to enroll in this program? »This is a scam. You don’t have to do anything, you don’t have to pay anything. You don’t have to fill out any form. The federal government will unilaterally provide loans that qualify for the program without you doing anything. The second thing you need to know is that not everything (all loans) apply, ”said Lara Sutherlin, administrator of the Wisconsin division of consumer protection.[‘thavetodoanythingyoudon’thavetopayanythingYoudon’thavetofilloutanyformsThefederalgovernmentwillputeligibleloansintheprogramunilaterallywithoutyoudoinganythingThesecondthingyouneedtoknowisnoteverything(allloans)applies”saidLaraSutherlisconsAdministratorDirectoratorfortection”saidLaraSutherliscisionofAdministratorDirectorator[’thavetodoanythingyoudon’thavetopayanythingYoudon’thavetofilloutanyformsThefederalgovernmentwillputeligibleloansintheprogramunilaterallywithoutyoudoinganythingThesecondthingyouneedtoknowisnoteverything(allloans)applies”saidLaraSutherlintheAdministratorfortheWisconsinDivisionofConsumerProtection

The state has set up a student loan hotline for anyone with questions, or if you are unsure if your loan is a private loan, or if you are having difficulty contacting your student loan provider. .

The hotline can be reached at 833-589-0750 from Monday to Friday, 8 a.m. to 4:30 p.m.

State officials say the hotline will also help callers understand the CARES Act relief program, as well as determine where to find more personalized information from Studentaid.gov, know where to find personal information about their school, service provider, or lender, and can also offer advice on grace periods, job loss and / or financial status, and loan payments suffering.

Officials add that the hotline does not ask borrowers for personally identifiable information such as your birthday or a Social Security number, or access specific loan information.

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