3 ms·
IANAL but pretty sure that does not, in fact, qualify as fraud.
by fastball 6y ago
IANAL but pretty sure that does not, in fact, qualify as fraud.
- treesrule 6y agoyeah sorry, I would bet you are right in the strict legal sense, I guess its a dumb cop out but I meant in the colloquial sense.
- dragonwriter 6y agoI think it probably is fraud, even legally, but only because “qualified education loans” subject to rules against discharge in bankruptcy are also eligible for tax deductions on interest, so while falsely claiming the status was intended as a dissuasion against recourse to bankruptcy for past customers (and not fraud, though clearly unethical, when that’s all the claim serves as), it also was a material misrepresentation which could encourage new customers to purchase services based on it, which is fraud.
- dragonwriter 6y agoActually, since the loan is structured as an all-principal, no-interest $30,000 loan, deductibility of interest isn’t an issue, so it wouldn’t be classic fraud.