CFPB v. Monster Loans and Associated Student Loan Companies
In 2020, the CFPB filed a lawsuit alleging that between 2015 and 2017, five student loan debt-relief companies—Docu Prep Center d/b/a Certified Document Center, Certified Doc Prep Services, Assure Direct Services, Direct Document Solutions, and Secure Preparation Services—violated the Consumer Financial Protection Act (CFPA) and the Telemarketing Sales Rule (TSR) by making deceptive representations about their services.
The lawsuit also alleged that the five companies violated the TSR by unlawfully collecting advance fees for debt relief services. In addition, the five companies and two associated mortgage companies—Monster Loans and Lend Tech Loans—violated the Fair Credit Reporting Act (FCRA) by marketing debt-relief services to millions of consumers using credit report information that was illegally obtained from a nationwide credit reporting company. On May 7, 2021, the court entered a default judgment in favor of the CFPB and against the five student loan debt-relief companies. The court also entered stipulated final judgments against Monster Loans, Lend Tech Loans, and several other defendants.
Victim compensation
The CFPB has contracted with EPIQ Systems to administer payments for this case and answer consumers' questions.
For questions related to this case, please:
- Call: (877) 899-2926
- Email: info@cfpb-monsterloans.org
- Write: Third Party Administrator – Monster Loans, PO Box 3598, Portland, OR 97208-3598
Important dates
Ongoing: Distribution