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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 …

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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 …

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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 …

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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 …

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5 Ways to Kick a Private Student Loan Lawsuit in the Nuts

The New York Times published this article which does a great job of covering major issues that can be very helpful when dealing with a private student loan collection lawsuit. The major headings they focus on are: The creditor cannot prove that it owns the debt. The creditor’s business records are not admissible. The debt …

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Wall Street Wants to Keep You Saddled With Crappy National Collegiate Student Loan Trust Student Loans

Dumpsters of National Collegiate Student Loan Trust loans are sitting out in the real world that consumers are being sued over or have been sued over. The only problem is a sh** load of them are total garbage and not legally enforceable. Vantage Capital Group LLC, which controls the National Collegiate trusts, reached a deal …

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Major Win for Consumers Against National Collegiate Student Loan Trust is On Hold

Attorney Richard Gaudreau sent me this timely guest post on the horrible National Collegiate Student Loan Trust mess. This has to be one of the classic debt situations that has no winners on any side. Student loan debtors are being sued and losing because they don’t fight back against creditors going after them for loans …

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