National Collegiate Student Loan Trust Lawsuits in Florida – Are there defenses?

National Collegiate Student Loan Trust lawsuits are continuing to hamper consumers in Florida. Many ask, is there any relief?

One incredible result of the ‘great recession’ was a raise in student loan debt and an inability of consumers to pay. This leaves them in the perilous position of having student loans with a specialized degree or even “the minimum” to locate a job and being either under employed or not employed at all. This left student loan borrowers with a hard choice – eat or default. After many chose the latter, and student loan default became a more common occurrence. Private student loan companies then sold of massive amounts of student loan debt. This also impacted investment portfolios as student loan debt, and the difficulty in getting them forgiven, was seen as a ‘safe’ investment. A large number of these debts were held by National Collegiate Student Loan Trust (NCSLT). Many student loans were then gathered into trusts and sold to various investors.

The thought was, from an investment standpoint, after an increasing number of student loan borrowers defaulted, individuals would then face lawsuits on the non-payment of these loans to try to turn these loans into collectible judgments. Many student loan borrowers, like those in foreclosure, often do not think there is any defense to these suits. They may be surprised to learn that there are a few defenses out there for these student loan lawsuits.

Are there Defenses to National Collegiate Student Loan Trust lawsuits?

That answer may startle you – yes! One big issue for them seems to be the ability to prove they have a right to sue. Like many cases where debts have transferred, proving it can be difficult. They will have to overcome evidentiary rules. They may have to overcome statute of frauds issues relating to paying debt. Having an attorney that understands these rules is very important.

Another issue the student loan debt collector may have is the statute of limitations. This is a bar to the collection of your debt through a lawsuit. This may not stop the ability to collect. It’s important to note, this can be waived. Understanding how to maintain this defense could be helpful in defending your case.

If you are involved in active litigation with National Collegiate Student Loan Trust, an experienced defense attorney may be able to help!

If you would like a review of your student loan case – whether with Sallie Mae, Navient, or National Collegiate Student Loan Trust, please do not hesitate to contact my office at 813.502.6768.

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Bryant H. Dunivan Jr., Esq.

Attorney at Law Offices of Michael J. Owen, PLLC
Attorney Bryant Dunivan is a foreclosure, real estate, and consumer protection attorney who focuses his efforts on making his clients feel like people and not just a file. Just Served? I offer a free consultation. Contact me today.

Attorney Bryant Dunivan is a foreclosure, real estate, and consumer protection attorney who focuses his efforts on making his clients feel like people and not just a file. Just Served? I offer a free consultation. Contact me today.

Posted in Debt Collection, Student Loan Default
2 comments on “National Collegiate Student Loan Trust Lawsuits in Florida – Are there defenses?
  1. Earl E. Fluellen Sr. says:

    On behalf of National Collegiate Trust the law firm of Hayt,Hayt,& Landau of Miami Florida has filed a law suit against me as co-signer to na student loan for my daughter. I was issued the initial summons on 7/12/16. I responded to this summons, and has since answered a Request for Admissions. I have today received a letter from Plaintiff attorney that they will be calling up this case for a summary judgement on May 4,2017 or as soon thereafter as they can be heard. They also sent a copy of an unsigned request to a judge requesting a motion for a telephonic appearance. Please advise

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