Advertiser Disclosure

Borrower Beware: Student Loan Resolve

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.

Student Loan Resolve was sued by the Illinois attorney general in 2015 as part of a state crackdown on student debt adjusters.

Student Loan Resolve is owned by Consumer Financial Resources LLC, whose business practices violated the state’s consumer protection and business laws, the attorney general said in announcing the lawsuit.

Enforcement Actions: The Illinois attorney general sought a minimum of $100,000 from the company for the violations, as well as restitution to Illinois consumers equating to all fees paid to the company, the voiding of contracts with all Illinois consumers, and payment of attorney fees.

What the company claims to provide: Document preparation services related to applying for loan forgiveness and consolidation programs

Website: http://studentloanresolve.com/

Based: Plano, Texas

Management: Scott Freda, owner and managing member. Freda also owns and operates Champion Marketing Solutions LLC, Empire Elite Partners LLC, Empire Sports Travel LLC and US Financial Resolve LLC. He also operated American Financial Concepts LLC and America’s Credit Resolve LLC, both of which are defunct.

Sources: Illinois attorney general; Texas business filings