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Borrower Beware: Simple Student Loan Solutions

Loans, Student Loans

This company is on the NerdWallet Student Loan Watch List. The list flags student-loan businesses and individuals hit by enforcement actions, court judgments or liens, or bad ratings from the Better Business Bureau. Learn more in Who Gets Listed. Have you dealt with this business, or encountered a suspicious student-loan company that NerdWallet public interest reporters should investigate? Let us know at watchlist@nerdwallet.com.

Washington’s attorney general forced Simple Student Loan Solutions to return more than $27,000 to customers in that state, after accusing the Florida company of violations in connection with student-loan debt-adjustment services.

A 2017 consent decree required the company to void all its contracts in Washington and to destroy consumers’ confidential information such as passwords, PINs and Social Security numbers. The decree requires the company to obey debt adjustment laws there.

The company, which also does business as Prima Processing Solutions, admitted no wrongdoing. The companies also had to pay Washington $5,500 in attorneys’ fees.

The consent decree, signed by a King County Superior Court commissioner, left the companies free to operate in any other state.

The Washington state attorney general sued Prima Processing, which does business as Simple Student Loan Solutions, in 2017 over accusations of numerous violations of state law.

The lawsuit alleged that Prima charged initial fees above what the law allows and violated Washington’s Consumer Protection Act by engaging in unfair or deceptive business practices.

In October 2017, Simple Student Loan Solutions was included in a publicized crackdown on student debt relief fraud by the Federal Trade Commission and 12 attorneys general — a joint enforcement effort called “Operation Game of Loans.”

What the company claims to provide: Document preparation and processing related to federal student-loan consolidation and forgiveness programs

Websites: http://simplestudentloansolutions.com/ http://primaprocessingsolutions.com/

Based: West Palm Beach, Florida

Management: Anthony Sacchetillo, managing member. Sacchetillo is also the manager of First Choice Credit Management LLC, registered by the American Safety Council Inc. at the same address.

Sources: Florida business filings; Washington King County Superior Court