Student Loan Debt Collector Will Pay $700,000 for Unlawful Collection Calls in Settlement with FTC

Federal Trade Commission ----- GC Services, a large debt collector charged with using unlawful tactics to collect on federal student loans and other debts, will pay a $700,000 civil penalty under a settlement with the Federal Trade Commission. Student loan debt is a large and growing segment of the U.S. debt collection industry, according to the FTC. More than 40 million consumers have outstanding loan debt, carrying an average balance of $29,000. GC Services is a third-party debt collector of defaulted federal student loans and other types of debt. To learn more click on the picture below to read the FTC release.