The Consumer Financial Protection Bureau took action against the National Collegiate Student Loan Trusts and their debt collector, Transworld Systems, Inc., for illegal student loan debt collection lawsuits. Consumers were sued for private student loan debt that the companies couldn’t prove was owed or was too old to sue over. These lawsuits relied on the filing of false or misleading legal documents. The proposed judgment requires an independent audit of all 800,000 student loans in the National Collegiate Student Loan Trusts’ portfolio. It prohibits the National Collegiate Student Loan Trusts, and any company they hire, from attempting to collect, reporting negative credit information, or filing lawsuits on any loan the audit shows is unverified or invalid. In addition, it requires the National Collegiate Student Loan Trusts to pay at least $19.1 million, which includes initial redress to harmed consumers, relinquished funds to the Treasury, and a civil money penalty. Under a separate consent order, Transworld Systems, Inc. is ordered to pay a $2.5 million civil money penalty. — Read Full Article
Are you in Default, Collections, or Behind on Your Payments?
Private Student Loan Assistance
If you are one of those individuals that are in default, collections, or are behind/can’t afford your Private Student Loan payments, there is a solution! We can help to get your life back on track. We help with Private Student Loans ONLY - If you have federal student loans, call the Dept. of Education. CALL TODAY OR FILL OUT THE FORM TO THE RIGHT — (858) 799-0381
Get Assistance Now
Please complete the form & we will get back to you ASAP!
By Clicking ``Contact Us`` you agree to be contacted by us for a free consultation
How We Can Help
We only help with Private Student Loans. Not Federal. That includes: Private Student Loans in default, Private Student Loans in collections, and behind on payments. We provide relief for Private Student Loans. We understand that it has been difficult for you to find a solution. We will provide you with a simple, legal way to alleviate your Private Student Loan Debt.
Consumer Protection
We are all about protecting your rights on private student loans from predatory lenders and scam collection agencies. You have rights under the Fair Debt Collection Practices Act. These agencies will violate those rights. It is not a matter of “if” but a matter of “when”, and we will be there to fight against these illegal practices. Beware of debt settlement “scams” – you don’t need a lawyer to settle nor will the lenders agree to settle.
Better than Bankruptcy
You won’t be able to get relief from Private Student Loans through bankruptcy – it is a long shot, and it will likely require going to court, which can be tedious and expensive. Your loans most likely will still not be discharged unless you can prove undue hardship (almost impossible). Plus, the worst negative record that you can possibly have on your credit report is a bankruptcy. Call Today to see how we can help with your private student loan debt.
Unlimited Support
We offer unlimited support for all your Private Student Loans throughout the entire process and keep you reasonably informed of the progress of your accounts. If you need help with private student loans, need relief from private student loan debt – Call us or fill out the form today to get assistance with your private student loan debt.
Get Relief from your Private Student Loans
Debt Validation
This program only works if your private student loans are in default, collections, or behind on your payments. We dispute the collection agency’s legal right to collect on your accounts. They must provide proof they have a legal right to the debt. If they do not provide that legal proof, you get relief from private student loan debt. The cost of the program will depend on the amount of debt that you owe.
Why You Should Contact Us
We'll help you! Highest Success Rate
We are the ones who built this program years ago, when no one was helping people with Private Student Loans. You will find that our knowledge and expertise in this area is unmatched.
We have a 99% success rate in helping people with their Private Student Loans. Whether it is with Navient, AES, National Collegiate Student Loan Trust, Wells Fargo, or others, there is a solution. Contact Us Today!
We have an A+ rating with the Better Business Bureau, without paying them monthly to be “accredited” for a reason — We have helped people around the country get relief from the burden of Private Student Loan Debt.
Private Student Loan News
What has been happening lately
CFPB Takes Action against National Collegiate Student Loan Trust
Lawsuits Moving Forward Against Nation's Largest Student Loan Lender, Navient
The Consumer Financial Protection Bureau (CFPB) is suing the nation’s largest servicer of both federal and private student loans for systematically and illegally failing borrowers at every stage of repayment. For years, Navient, formerly part of Sallie Mae, created obstacles to repayment by providing bad information, processing payments incorrectly, and failing to act when borrowers complained. Through shortcuts and deception, the company also illegally cheated many struggling borrowers out of their rights to lower repayments, which caused them to pay much more than they had to for their loans. The Bureau seeks to recover significant relief for the borrowers harmed by these illegal servicing failures. — Read Full Article
Alongside the CFPB, the attorneys general of several states – including Pennsylvania, Illinois, Washington, California, and Mississippi – have filed their own lawsuits against Navient. — Read Full Article