- Ten AGs teamed with the CFPB to file a complaint against Prehired, LLC and affiliated entities (collectively, “Prehired”) alleging that the company violated the Consumer Financial Protection Act of 2010 and the Fair Debt Collection Practices Act for deceptive marketing and debt collection practices associated with its vocational training program to allegedly prepare consumers for “6-Figure” entry-level positions such as software sales representatives.
- According to the complaint, Prehired encouraged consumers to pay for its pricy training programs via “Income Share Agreements” and represented that consumers would pay nothing until they got a high-income job through Prehired, when in reality Prehired buried terms that required consumers to pay even if they never got a job. Prehired also allegedly falsely represented that the ISAs were not loans and did not create debt because the loan was contingent on job placement.
- The complaint seeks to void the ISAs, recover restitution for affected consumers, and require Prehired to pay a civil penalty and disgorge profits from illegal conduct.