Debt Relief Industry Sued or Sanctioned

Settlement Corporation of America on CT Radar

Written by Steve Rhode

The State of Connecticut Department of Banking has just announced a new enforcement action against The Purewal Law Group, Legal Network of America, and Settlement Corporation of America.

According to the information provided, the parties named “shall immediately cease and desist from engaging or offering to engage in debt negotiation in Connecticut without a license, in violation of Section 36a-671(b) of the Connecticut General Statutes; and

No later than ninety (90) days after this Consent Order is executed by LNOA and SCOA, LNOA and SCOA shall repay fees to the Connecticut residents in the amounts identified in Exhibit A attached hereto, and shall provide satisfactory evidence of such repayments.”

Oh yes, and they had to pay a $25,000 civil penalty. Ouch!

The consent order was signed by Mandip Purewal on February 4, 2015. – Source

If you are a Connecticut resident and eligible for a refund, contact Carmine Costa, Director, Consumer Credit Division, Department of Banking, 260 Constitution Plaza, Hartford, Connecticut 06103-1800, or [email protected] .


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About the author

Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

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