American DocuPrep Review – Scam or Not

3.2K

Submitted by an anonymous former employee of American DocuPrep:

Hi there, I previously worked for American DocuPrep as a Student Loan Advisor, well that’s the title I would tell people over the phone. In the office, I was known as an opener – someone that opens the deal and then transfers the call to a closer. My job was to make outbound calls to people in the company database with student loans and have them send me their student loan information, fill out application information, and then put them on the line with a Senior Loan Advisor, I mean a closer. The closer would then give them their consolidated loan options at the expense of an enrollment fee, ranging from $799 to $999.

It is not surprising to me why one of the first search results on Google for ‘Assure Direct Services*’ is a forum on The College Investor titled ‘So scared I got scammed Please help!!!’

At the time I am writing this, there have been over 6000 views on this forum. The original post states:

They also charged me a fee of $799.00 to consolidate. Which I now found out was a SCAM.

…

Yup. It’s not a SCAM but it’s a service that I paid 800 dollars for that I could have done for FREE……..

This is absolutely true. Applying for loan forgiveness or other programs available through the Health Care and Education Reconciliation Act of 2010 can be done on your own for free. Employees of Assure Direct Services are trained to say their services are like taxes, you could file on your own, but why not pay a professional accountant to handle it?

If you want to try consolidating your student loans on your own, here are some pointers:

• Create your FSA ID here: https://fsaid.ed.gov/npas/index.htm
  • Note: This is a separate account from your FAFSA.
• Log in with your FSA ID here and scroll down and click START under Consolidate Your Loans: https://studentloans.gov/myDirectLoan/launchConsolidation.action
  • Notice how these websites end in .gov, you can have faith that these are legitimate websites through the US government.
• How long will it take?
  • The entire Loan Consolidation process must be completed in a single session. Most people complete the process in less than 30 minutes.

*Assure Direct Services changed their name to American DocuPrep