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Affordable Life Plans LLC is one of dozens of businesses managed by Kenneth L. Talbert, who operated Broadsword Student Advantage, which was sued by the Illinois attorney general over allegations that it misled consumers.
Broadsword funneled customers’ debt-relief fees to Affordable Life Plans LLC without telling them, as a subterfuge to escape liability for violating debt-collection laws, the Illinois attorney general alleged in the 2014 lawsuit.
Talbert is fighting the suit, which names him as a defendant as well as Broadsword. Litigation continues at the time of this Watch List posting.
Affordable Life Plans is based in Texas. Broadsword, which has gone out of business, was also based there.
In an interview with NerdWallet for this article, Talbert said the suit was politically motivated. He denied all allegations. Asked whether Broadsword secretly channeled funds to Affordable Life Plans, Talbert terminated the interview.
Liens filed: The state of Texas filed an $11,000 tax lien in 2015 against the company and released it two months later.
What the company claimed to provide: Financial advice, college savings planning, student-loan adjustment, retirement guidance and estate planning
Based: Carrollton, Texas
Management: Kenneth L. Talbert, past officer and managing member; James B. Talbert, member; Robert W. Boyd, managing member; Shaun Knapp, managing member; Matthew Winebrenner, managing member
Sources: Illinois attorney general’s office, Champaign County Circuit Court, Texas business filings