NCT, or, National Collegiate Trust, is with the
private student loan business.
No, they do NOT make figuratively speaking, they buy them.
Government loan, private loan, what’s the gap?
Private student loans are the worst debt in the country bar none. I didn’t arrive at this conclusion lightly, but only after representing clients in foreclosures, tax liens and lawsuits for Twenty-five years. Private student loans enjoy the same protection from a discharge in bankruptcy as federal loans but offer no benefits. The law requiring federal education loan servicers to offer reasonable repayment plans to borrowers in financial trouble is not going to apply to private student loans. Because of this, private student loan servicers can just don\’t work with people, and there’s no law requiring those to change their attitude.? (Richard Gadreau)
Yes, private college loans are much tougher to deal with, and government so to speak . are bad enough.
But don’t stop trying!!
I am defending several NCT lawsuits in state court, and they have yet to produce proof that they can own the student loans at issue.
I is at bankruptcy court earlier this year, and saw women, representing herself, in a motion to re-open her Chapter 7 bankruptcy bankruptcy case to file a lawsuit to release her student loans as an undue hardship.
Turns out, these were allowed to NCT.
And, NCT had a default judgment against her.? Default meaning, she had not responded to the lawsuit.
So it really is conclusively established that she owes NCT the bucks.
As Mr. Gadreau continues in the article connected with above:
So what can you do if you’re sued by National Collegiate Trust:
(1) First off, don’t default unless you’re able to live with the consequences. There are deadlines to resolve a complaint. A default judgment is good for 20 years in many states. It’s reasonable to be sure NCT owns your loan and is qualified for collect the balance before you decide how to proceed. If you default, you’ve waived any defenses like standing as well as statute of limitations.
(2) Get a copy with the original loan documents and all of correspondence. If you don’t have them, ask your servicer to get a copy. If you’re involved with litigation, consider making a request the documents you need. How you will do this varies from state to state and it\’s beyond the scope of this article.
(3) In some instances, the Federal Fair Debt Collection Practices Act while stating law equivalents can provide protection from unreasonable collection actions. Your legal rights.
Call a lawyer!? There may not be a lot of us fighting these, but you can purchase someone.