This blog used to be about debt. Now it's about a few more things. But really, it all comes back to debt. Trust me.

Wednesday, May 30, 2007

Scare Tactics

I can't tell you how many of these so called urgent offers I get from student loan companies.

They try to make it look like you have to call them about your specific student loan. They tell you rates are about to go up. Lately they tell you your rebate is ready.

And you don't even have an account with any of them. Never mind the fact that it has identity theft written all over it. These are rogue marketing practices. They should be illegal.

Here's a transcript of one of them, all spiffed up in telegram
fashion:

We are attempting to reach you regarding you $2100 Federal Student Loan
Rebate. You may reach us toll free at: 1-888-UR-SCREWED

Or another one, from College profiteer Sallie Mae. This one has commentary from me in brackets:

A recent review of your account indicated you may be eligible to
reconsolidate your existing student loans. [I am? I thought
you could only consolidate once. I have an account with you. Don't you know
this?]


Congress has recently proposed legislation that would significantly
increase costs to lenders. These actions will likely force lenders to reduce or
eliminate benefits offered to borrowers. [benefits? what
benefits? what actions? your stock has gone up 2000% since 1994. Did you pass
those benefits on to borrowers?]




Needless to say, this makes me sick.

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