The defendants are permanently banned from debt relief and credit repair activities and from making misrepresentations or unsubstantiated claims related to financial or any other products or services. In addition, the order includes a monetary judgment of more than $17 million. After the defendants surrender their assets of more than $4 million, the judgment is in partial suspense due to their inability to pay the full judgment.
Bloom Law Group Pretending To Be The Department of Education
The FTC also obtains a settlement with the Bloom Law Group. The FTC charges that the Los Angeles-based law group takes millions from consumers through unlawful student loan debt relief and mortgage assistance relief schemes. Not only that, the Bloom Law Group falsely claims to be from the Department of Education. In their illegal discourse, they promise to reduce borrowers’ monthly payments and forgive their loans. Further, the defendants target homeowners in distress and make false promises to provide mortgage relief and prevent foreclosure.
