On July 21, 2026, the Federal Trade Commission (FTC) announced a proposed settlement order permanently banning Dennise Merdjanian — a key operator of a Nevada-based student loan debt relief scheme — from the debt relief industry and from telemarketing. The order resolves the FTC’s charges that Merdjanian and her co-defendants took more than $45.9 million from consumers by impersonating the U.S. Department of Education and making false promises of student loan forgiveness.

Background

In November 2024, the FTC sued Nevada-based Superior Servicing LLC and Merdjanian, alleging they impersonated the Department of Education to bilk millions from student loan borrowers. A federal court immediately halted the scheme and froze its assets. An amended complaint later added corporate defendants and two additional individual operators, Eric Caldwell and David Hernandez, both of whom were banned from the debt relief industry in September 2025. The proposed order against Merdjanian, along with a default order against the remaining corporate defendants, fully resolves the litigation.

Terms of the Order

Merdjanian is permanently banned from advertising, marketing, selling, or assisting others in selling any debt relief product or service, and from participating in telemarketing in any capacity — including consulting, advising, or investing. She is also permanently prohibited from impersonating any government entity in violation of the FTC’s Impersonation Rule.

A monetary judgment of $45,959,012.69 was entered against her, jointly and severally with the other defendants. The judgment is partially suspended based on her inability to pay, with $184,731.71 due immediately from funds held in escrow, plus surrender of several corporate bank accounts and a 2022 Tesla Model Y to the court-appointed receiver. If Merdjanian is found to have materially misrepresented her finances, the full judgment becomes immediately due. She is also subject to 20 years of compliance reporting and recordkeeping obligations, with the FTC retaining broad monitoring authority.

Our Take

The Superior Servicing matter highlights the FTC’s continued aggressive enforcement in the student loan debt relief space and carries important lessons for businesses in or adjacent to the industry. The permanent bans here are sweeping — covering not just the specific scheme at issue but all debt relief activity and telemarketing, in any capacity, for life. The order’s broad definition of “assisting others” means that businesses should be cautious about hiring individuals subject to similar orders into any role touching these functions. The partial suspension of the judgment should not be mistaken for leniency — the full $45.9 million remains due if any financial misrepresentation is uncovered, and the order’s collateral estoppel provision preserves the FTC’s ability to use the established facts in any future proceeding, including bankruptcy. For companies operating in the student loan servicing, debt relief, or telemarketing space, this case is a clear reminder that individual operators face personal, lifelong consequences alongside the corporate entities they controlled.