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The owners of Life Cycle Student Loan Relief operated two businesses that attorneys general in two states found had violated violate consumer protection laws.
Owners William Fautsch and Thomas Kelly settled lawsuits in Wisconsin and Arizona alleging their companies engaged in deceitful direct-mail practices.
Life Cycle Student Loan Relief is one of several companies the men own that deal with student loans. Those include Amazing Marketing, the registered agent for Life Cycle Student Loan Relief, United Student Loan Relief, U.S. Student Loan Advisors, Student Loan Gurus and Docu Prep Experts.
Enforcement actions: The state of Wisconsin issued a permanent injunction in 2014 prohibiting Fautsch and Kelly’s Perfekt Marketing LLC from practicing business in Wisconsin. According to a Wisconsin Justice Department press release announcing a $50,000 settlement, the company violated Wisconsin’s prize notice law and direct-mail regulations.
In 2006, Fautsch and Kelly settled a suit brought by Arizona’s then-Attorney General Terry Goddard that accused Smart Advertising Solutions of misleading customers and violating the Arizona Consumer Fraud Act. They were ordered to pay $250,000 in civil penalties and attorney fees.
What the company claims to provide: Document preparation, loan consolidation, loan forgiveness and lower monthly payments
Based: Tempe, Arizona
Management: Thomas Kelly, manager; William Fautsch, member
Sources: Arizona secretary of state; state of Arizona Corporation Commission; Wisconsin Department of Justice