Student Loan Debt a Factor in Woman Robbing Parent Teacher Group?

An Arizona woman, who was also a cafeteria cook at Monte Vista Elementry School in Arizona was appointed treasurer of the Parent Teacher Organization (PTO). Seems she was more than just a cook in the kitchen because she had a special recipe to cook the books as well. PTOs help parents and schools work together. … Read more

Why is National Collegiate Student Loan Trust Suing Me After Bankruptcy?

Thinking wondering confused

Question: Dear Steve, I filled for Bankruptcy Chapter 13 five years ago, and it was discharged last year. I included my student loans, private and federal. National Collegiate Student Loan Trust refused was contacted to submit their claims but refused. Now that I am out of bankruptcy, they are trying to file a judgment against … Read more

National Collegiate Student Loan Trust Class-Action Lawsuit

By Gregory Frank, FRANK LLP. What a Student Loan Recordkeeping Mess A group of murky Wall Street trusts have taken millions of dollars from Americans, claiming they are owed almost $12 billion in student loan debt, even though they cannot prove it. The Attorney General of New York and other regulators have forced National Collegiate … Read more

National Collegiate Student Loan Trust Bankruptcy Arguments Getting Sharp

A group of attorneys are fighting the good fight in a case involving another stinking National Collegiate Student Loan Trust case. The arguments about why these particular private student loans should be discharged in bankruptcy have been sharpened through several cases and litigation. When I read the summary, in this case, it seemed that the … Read more

National Collegiate Student Loan Trust and Austin Smith – The Warrior

The stinkiness of National Collegiate Student Loan Trust loans is something I’ve talked about for a long time. Attorney Austin Smith has been one of the leaders in the charge against these putrid private student loans. The problem with the loans is how they originated, slicked, packaged, and sold to investors. Strictly speaking, the loans … Read more

Bankruptcy Judge Discharges All NCSLT Student Loans

Here is a very interesting bankruptcy case from earlier in 2020. Judge Jennemann had no patience for National Collegiate Student Loan Trust and eliminated the private student loans in full. She also awarded attorney fees to the consumer as well. This case shows, if a creditor claims your private student loans are exempt from discharge … Read more

National Collegiate Student Loan Trusts Loan Lawsuits Tossed Out

New York Attorney General Letitia James today announced that she has secured protections for thousands of student borrowers who defaulted on student loans and who were subject to misleading and unlawful actions by Transworld Systems, Inc. (Transworld), one of the nation’s largest debt collectors. The agreement resolves an investigation of Transworld — the principal debt … Read more

CFPB Says National Collegiate Master Student Loan Trust Still Harming Consumers

National Collegiate Student Loan Trust (NCSLT) is a messed up private student loan player. I still think their daily suits against people could be defeated with smart legal brains representing consumers because the debts would struggle to be validated if challenged. The debacle over the chopped up and the divided pool of student loan debt … Read more

CFPB v. NCSLT: A Settlement is Scuttled

In 2017, the Consumer Financial Protection Bureau (CFPB) sued the National College Student Loan Trusts (NCSLT) and their debt collector, Transworld Systems, accusing the two defendants of illegal student-loan debt collection. Specifically, the CFPB accused NCSLT and Transworld of collecting on private student loans after the statute of limitations had expired and of suing debtors … Read more

More Arguments Chip Away at National Collegiate Student Loan Trust Bankruptcy Dischargeability

Student loans under National Collegiate Student Loan Trust (NCSLT) remain a mess on so many levels. Just looks at these past articles. But arguments by attorneys Austin Smith and Christopher Bush filed in an Adversary Proceeding, seem pretty compelling on why the NCSLT loans should be allowed to be discharged in bankruptcy. The arguments put … Read more

I Just Settled My Student Loan With National Collegiate Student Loan Trust and TERI

Question: Dear Steve, Just settled with National Collegiate Thrust and Teri Loans. Got a charged off statement document, does this count as income? What did this mean??? Horse Answer: Dear Horse, The forgiven debt is treated as income and you should receive an IRS Form 1099-C. If you are not insolvent you may owe income … Read more

National Collegiate Student Loan Trust Case Inside Look of Mock

In 2007, Casondra Mock, a Texas resident, borrowed about $20,000 from Union Federal Savings Bank, a Rhode Island institution, to finance her studies at the University of Houston at Clear Lake. The interest rate was high–almost 14 percent. Under the terms of the loan, Mock would begin paying $339 a month beginning in December 2009 … Read more

Perfect Example Why Most National Collegiate Student Loan Lawsuits Are BS

I’ve written many times about the problems with National Collegiate Student Loan Trust and their crappy loan documentation. Click here to look at the archives. It is sickening to see the alerts every day of people being sued by NCSLT who probably never appear in court and lose by default. But I’m hearing from more … Read more