Debt Relief Services
Key 2 Debt Free, LLCInformation and Alerts
Alert Details
This business has 3 alerts.
Ad Review
On October 31, 2024, BBB Serving Los Angeles and Silicon Valley requested that the business substantiate, modify, or discontinue claims on the company's website, https://key2debtfree.com/. The business advertises claimed results and success claims. The business also advertises client testimonials which contain result claims.
The BBB Code of Advertising states that, "1.1 The primary responsibility for truthful and non-deceptive advertising rests with the advertiser. Advertisers should be prepared to substantiate any objective claims or offers made before publication or broadcast. Upon request, they should present such substantiation promptly to the advertising medium or BBB.”
The BBB Code of Advertising also states, “34. Claims relating to performance, energy savings, safety, efficacy or results for a product or service should be based on recent and competent testing or other objective data.”
The BBB Code of Advertising also states, “30.1 In general, advertising which uses testimonials or endorsements is likely to mislead or confuse if: 30.1.3 It contains representations or statements which would be misleading if made directly by the advertiser; 30.1.4 While literally true, it creates deceptive implications; 30.1.11 A consumer’s experience represented in an advertisement is not the typical experience of those using the product or service, unless the advertisement clearly and conspicuously discloses what the expected results will be; 30.1.13 Advertisers compensate consumers for leaving feedback on third-party online blogs or websites but fail to ensure that consumers disclose such facts on those blogs or websites.”
As of November 21, 2024, the business has failed to respond to our request for substantiation, modification, or discontinuation of the advertised claims.
Licensing
On 12/10/2021 the 1-Secretary of State-Corp, LLC, Notary suspended the license of Key 2 Debt Free, LLC. BBB encourages you to contact the following agency or agencies to confirm this information: - https://bizfileonline.sos.ca.gov/search/business - 9166536814
Alert
On November 14, 2024, BBB investigated Key 2 Be Debt Free, LLC in Los Angeles due to multiple Scam Tracker reports alleging unethical business practices.
How it works: Consumers receive an email which stated their eligibility for a student loan forgiveness pre-qualification that would be revoked in 48 hours. Many unsuspecting students would respond to the call and claimed that the Key 2 Be Debt Free representative gave the indication he/she was working with the Federal Government. After signing a contract, most of the victims paid up-front fees -- in some cases as much as $1,000 for a "Student Loan Forgiveness Plan." Once students would submit their payment, they were immediately abandoned and none of the victims received any follow up and their calls and emails were never returned. Their payments were never applied to their student loans, and they never received the money back as promised. On November 14, 2024 your Better Business Bureau contacted this company but unfortunately did not receive a response.
BBB offers the following tips to avoid student loan forgiveness scams:
Never pay upfront. Real lenders will take a percentage once their service is complete. You don't need to pay an upfront fee beforehand.
If you are having trouble paying your student loans, contact your lender directly. You can research programs offered by the federal government.
Never give a third-party power of attorney. Don't sign anything giving a company the power to negotiate on your behalf. A scam company can use this to take control over your loans.
If it seems too good to be true... It probably is. Any company that claims it can completely erase your student loan debt is likely a scam.
Always check out a company's business review at www.bbb.org before signing up with them.
Also, the Consumer Financial Protection Bureau has a useful website: (https://www.consumerfinance.gov/paying-for-college/repay-student-debt/#Question-1) for those struggling with student loans and offering basic information about your options. They can also point you to other legitimate sources of information, helping you avoid falling into the clutches of con artists.
BBB Business Profiles may not be reproduced for sales or promotional purposes.
BBB Business Profiles are provided solely to assist you in exercising your own best judgment. BBB asks third parties who publish complaints, reviews and/or responses on this website to affirm that the information provided is accurate. However, BBB does not verify the accuracy of information provided by third parties, and does not guarantee the accuracy of any information in Business Profiles.
When considering complaint information, please take into account the company's size and volume of transactions, and understand that the nature of complaints and a firm's responses to them are often more important than the number of complaints.
BBB Business Profiles generally cover a three-year reporting period, except for customer reviews. Customer reviews posted prior to July 5, 2024, will no longer be published when they reach three years from their submission date. Customer reviews posted on/after July 5, 2024, will be published indefinitely unless otherwise voluntarily retracted by the user who submitted the content, or BBB no longer believes the review is authentic. BBB Business Profiles are subject to change at any time. If you choose to do business with this company, please let them know that you checked their record with BBB.
As a matter of policy, BBB does not endorse any product, service or business. Businesses are under no obligation to seek BBB accreditation, and some businesses are not accredited because they have not sought BBB accreditation. BBB charges a fee for BBB Accreditation. This fee supports BBB's efforts to fulfill its mission of advancing marketplace trust.