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Financial Services Law Insights and Observations

North Carolina AG Announces Settlement with Student Loan Debt Relief Company

State Issues Student Lending State Attorney General Enforcement Settlement

State Issues

On March 27, the North Carolina Department of Justice announced it had settled a lawsuit against a student loan debt relief company for allegedly charging upfront fees while failing to perform promised debt relief services. NC Attorney General Josh Stein stated that the terms of the consent order will provide restitution of more than $375,000 to 377 affected borrowers and will further prohibit the company from engaging in similar conduct in the future.  The consent order is not presently available to the public.

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