Photo by Divaris Shirichena on Unsplash
On Tuesday, the Federal Trade Commission announced that Dennise Merdjanian, the operator of Nevada-based Superior Servicing, agreed to a settlement that permanently bars her from the debt relief and telemarketing industries. The agency said she falsely claimed to represent the U.S. Department of Education while collecting millions of dollars in illegal fees from borrowers.
FTC says borrowers were promised loan forgiveness
According to the FTC, Merdjanian and her company told borrowers they could lower their monthly student loan payments or qualify for loan forgiveness.
Investigators alleged that the company falsely presented itself as being affiliated with the Department of Education. Instead of providing the promised debt relief, the FTC said customers were charged illegal upfront fees for services that either were never delivered or did not exist.
The agency estimated the alleged scheme collected approximately $46 million from consumers.
Court imposes nearly $46 million judgment
As part of the settlement, Merdjanian faces a monetary judgment of more than $45.9 million.
However, the FTC said most of the judgment has been suspended because she currently lacks the financial ability to pay the full amount.
The agency warned that if investigators later determine she misrepresented her financial condition, the entire judgment will immediately become due.
In addition to the financial penalty, Merdjanian is permanently prohibited from participating in the debt relief and telemarketing industries.
FTC lawsuit began in 2024
The FTC first filed its lawsuit against Superior Servicing and Merdjanian in November 2024.
The complaint alleged that the company impersonated Department of Education employees and falsely advertised student loan forgiveness and repayment assistance programs.
A federal court quickly froze the company’s assets and temporarily shut down its operations while the case proceeded.
In early 2025, prosecutors expanded the lawsuit by adding Eric Caldwell and David Hernandez as co-defendants.
Last September, a federal court permanently banned both Caldwell and Hernandez from the debt relief industry. The settlement with Merdjanian, along with a default judgment against the corporate entities, closes the remaining litigation.
Student loan borrowers remain frequent scam targets
The FTC noted that student loan borrowers continue to face significant fraud risks.
Millions of Americans remain behind on their federal student loan payments following the expiration of pandemic-era payment protections. Financial experts say that creates opportunities for scammers who promise debt forgiveness or payment reductions in exchange for upfront fees.
According to recent figures cited by the FTC, about 9.5 million federal student loan borrowers are currently in default, nearly doubling from roughly 5.3 million after repayment requirements resumed.
Consumer advocates estimate that student loan debt relief scams steal billions of dollars from Americans each year.
FTC urges borrowers to stay alert
The FTC continues to advise borrowers to be cautious of companies claiming they can guarantee loan forgiveness or demanding payment before providing debt relief services.
The latest settlement underscores the agency’s ongoing effort to crack down on businesses accused of exploiting borrowers seeking financial relief.
Source: Information adapted from Forbes reporting on the FTC settlement involving Dennise Merdjanian and Superior Servicing.
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