Sued by National Collegiate Student Loan Trust? | Summary and Q&A

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May 18, 2018
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Consumer Warrior
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Sued by National Collegiate Student Loan Trust?

TL;DR

Learn effective defenses against lawsuits from National Collegiate Student Loan Trust and why it's crucial to respond to their lawsuits promptly.

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Key Insights

  • πŸ‡ΊπŸ‡Έ The student loan problem in the United States is substantial, and many borrowers face difficulties in repayment.
  • πŸ₯Ί National Collegiate Student Loan Trust is a leading junk debt buyer for student loan debt and files lawsuits nationwide.
  • πŸ–€ Responding to lawsuits from National Collegiate is crucial as there are strong defenses available, such as the lack of proper documentation and the credibility issues of witnesses.

Transcript

  • Hey everybody. John Skiba here from the Arizona Consumer Law Group, and in today's video I'm going to talk about some tips and strategies for dealing with National Collegiate Student Loan Trust. If you've been sued by this student loan junk debt buyer, things may not be as bad as you think they are. So, in the United States right now, the student... Read More

Questions & Answers

Q: What is National Collegiate Student Loan Trust's business model?

National Collegiate purchases charged-off student loan debt in large volumes and sues borrowers to collect on the debt.

Q: Why is it crucial to respond to lawsuits from National Collegiate?

Failure to respond to the lawsuits may result in a default judgment, where the court grants National Collegiate everything they are asking for, including attorney's fees and court costs.

Q: What are some defenses against National Collegiate lawsuits?

One defense is the poor documentation provided by National Collegiate, often lacking proof of ownership transfers of the borrower's account. Additionally, credibility issues arise with Transworld Systems Inc. employees testifying on behalf of National Collegiate due to a consent order filed against Transworld Systems for false testimony.

Q: Where can I learn more about defenses against National Collegiate and seek assistance?

Visit consumerwarrior.com or contact the Arizona Consumer Law Group for more information and legal assistance if you are in Arizona.

Summary & Key Takeaways

  • The United States is facing a massive student loan problem, and National Collegiate Student Loan Trust is one of the biggest junk debt buyers for student loan debt.

  • Many people don't know how to deal with lawsuits from National Collegiate when they are unable to pay back their student loans.

  • Responding to the lawsuits is essential because there are strong defenses against National Collegiate, such as their poor documentation and the credibility issues of their witnesses.

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