AG Madigan Sues Alleged Student Loan Scammers

(Undated) -- Illinois Attorney General Lisa Madigan is going after two companies that are accused of scamming people who are trying to decrease their student loan debt. The suits will be filed against Texas-based Broadsword Student Advantage LLC and Chicago-based First American Tax Defense LLC. Madigan alleges that the pair of unlicensed companies "engaged in deceptive marketing practices and illegally charged consumers hundreds of dollars in upfront fees." The AG's office says the firms scammed people into paying as much as a 12-hundred-dollar down payment for bogus services to reduce or get rid of their student loan debt.