Facing lawsuits and enforcement actions by attorneys general in several states, the company said Thursday it would shut down about two weeks after being sued by Connecticut’s Attorney General.
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Sale-leaseback platform EasyKnock, which faced consumer lawsuits and enforcement actions by attorneys general in several states, has closed its doors, the company announced Thursday.
“After many years of serving consumers, EasyKnock has closed its doors,” an announcement posted on the company’s website informs visitors. “We are deeply grateful for the trust placed in us to be part of the financial journey of so many. While EasyKnock may no longer be around, arrangements have been made to ensure continued services for our customers.”
The news was first reported by NPR, which published a lengthy investigative piece on the New York-based sale-leaseback platform’s business practices in June.
NPR documented consumer lawsuits against EasyKnock in Texas, Maryland, South Carolina, Pennsylvania and Ohio, and enforcement actions by attorneys general in Michigan and Massachusetts.
In September, EasyKnock scored a victory in Texas when an arbitrator ruled against a Texas couple who claimed that their transaction was actually a loan in disguise, awarding the company $153,000.
But last month, the Connecticut Attorney General’s Office filed suit against EasyKnock, alleging the company “targets cash-strapped homeowners in need of financing who, for reasons of poor credit or excessive debt, may not qualify for…