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STUDENT LOAN LAWSUITS - Consumer Rights Article

Orlando Consumer Rights Lawyer - providing affordable legal services concerning Debt Collection Harassment, Debt Collection Defense, Bankruptcy, Student Loan Dispute, Credit Repair, and other Consumer Law legal services, for residents of Orlando, Kissimmee, and throughout Central Florida.

Call The Debt Relief Law Center at Toll Free 1.888.877.5103 to Schedule a Confidential and FREE Legal Consultation with Attorney, N. James Turner

Student Loan lawsuits are on the rise all across the country. National Collegiate Student Loan Trust and SLM Private Credit Student Loan Trust are suing consumers across the country for past-due private student loans. Neither National Collegiate Student Loan Trust nor SLM Private Credit Student Loan Trust are lenders but are debt buyers of private student loans guaranteed by TERI rather than by the federal government. These entities purchase student loans from the original lenders and attempt to collect them from the borrowers. These private student loans were used by students to assist in financing the cost of their education in attending undergraduate, law school, business school, medical school, dental school, and other graduate programs.

Both National Collegiate Student Loan Trust and SLM Private Credit Student Loan Trust are Student Loan Asset-Backed Security (or, as they’re known in the industry, SLABS). SLABS were invented by then-semi-public Sallie Mae in the early ’90s, and their trading grew as part of the larger asset-backed security wave that peaked in 2007. Simplly stated, these student loans are bundled and sold as investments to the general public as a safe investment.

In order to obtain a judgment against the consumer/borrower on a defaulted student loan, the plaintiff must prove ownership of the loan. Given that the consumer did not borrow the money from the plaintiff, it must show how it acquired the loan. Proof of assignment of the student loan is a requirement.

National Collegiate Student Loan Trust and SLM Private Credit Student Loan Trust count on consumers doing nothing so they can obtain a default judgment against the borrower. From a statistical standpoint, more than 90% of all collection lawsuits – including those for private student loans – end up with a default judgment.

Most student loan borrowers who receive lawsuit papers simply do nothing to defend themselves. It is important for consumers to defend themselves against lawsuits brought by National Collegiate Student Loan Trust and to demand that they prove their case.

 

Contact Consumer Rights Lawyer, N. James Turner at The Debt Relief Law Center by Calling Toll Free 1.888.877.5103 to Schedule a Confidential and FREE Legal Consultation.

Orlando Consumer Rights Lawyer, N. James Turner proudly serves the Debt Collection Harassment, Debt Collection Defense, Bankruptcy, Student Loan Dispute, Credit Repair, and other Consumer Law legal needs for residents of Orlando, Kissimmee, Orange County, Osceola County, Seminole County, and throughout Central Florida.

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debt collection defense

DEBT COLLECTION DEFENSE

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If you are dealing with a situation in which you, as a consumer, are not being dealt with properly in a consumer related transaction or circumstance, find out what your legal rights are. Seek the advice and representation of experienced legal counsel.

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CREDIT CARD DEBT DEFENSE

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Every day those with credit card debt are harassed by a number of collection agencies that commonly use unethical and sometimes illegal means to attempt to collect debt.

 

student loan debt defense

STUDENT LOANS

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Higher education is an investment in one's future; and it can be expensive. If you are being harassed by student loan creditors or debt collection agencies, find out what your legal rights and options are. Make sure your are informed and your rights ar protected.

debt collection harassment

COLLECTIONS HARASSMENT

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Being harassed by creditors or debt collectors is illegal. There are both State and Federal Debt Collection Laws that exist to protect the consumer from harassment and other illegal activities by collection agencies, their subsidiaries, and third parties.

Credit Report Repair

CREDIT REPORT ERRORS

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We will investigate your credit report error and make sure that the error is corrected. We willl dispute the item, insisting that the information furnisher produces evidence substantiating the error or removes the item.

 

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BANKRUPTCY

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Bankruptcy is a mechanism of the Federal Government to allow debtors (people who owe money) to restart their lives when they have gotten into a financial dilemma where there is no reasonable way to repay the debts they owe.

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VIDEOS

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Orlando Consumer Rights Lawyer - watch these informative videos about consumer rights in the financial services industry.

 

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FAQ

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We answer some of the most common Debt Collection Harassment Question that we hear on a daily basis.

 

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SPANISH VERSION

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Si usted es una de las millones de personas acosadas por un cobrador de deudas desaprensivo, la ley está de su parte. El Acta de Prácticas Justas Para el Cobro de Deudas, regula las prácticas de los cobradores de deudas y les impone sanciones que rompen las reglas.

 

ABOUT JIM TURNER

STARTED SINCE 1990

Orlando Consumer Rights Lawyer - providing aggressive and affordable professional services to consumers who have been victims of debt collection harassment by debt collectors and Credit Repair, to residents in Orlando, Kissimmee, and throughout the Central Florida Area.

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