However, in February they noticed that a payment had not been taken since December, and never heard back from the company. They reported the incident to their bank, but"by that point it was too late to receive a full refund for the damages," which totaled $1,200.
While these reports make up just a handful of the loan-related scam entries BBB receives, the consumer advice body sees them becoming an increasing problem as the loan repayment start date nears. "So that's why it's really important to do that due diligence, do your homework, make sure any company you're working with is legitimate or if somebody says they're calling from the government, to confirm their identity—and in a lot of cases the government doesn't call people and say 'we're going to forgive your loan.'"
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