Medic949 Posted January 8, 2008 Report Share Posted January 8, 2008 I have a student loan that they say i defaulted on in 1995. I did the DV, because the bank that i took out the loan was different from the company suing me, and received a blanket assignment dated three years prior to the actual loan date. Can you have a assignment date prior to the loan date? Link to comment Share on other sites More sharing options...
Recovering Attorney Posted January 9, 2008 Report Share Posted January 9, 2008 If it was a guaranteed loan, you are probably being sued by the guarantee agency, which does get blanket assignments in the event of default. Link to comment Share on other sites More sharing options...
Medic949 Posted January 9, 2008 Author Report Share Posted January 9, 2008 It Was A Guaranteed Loan But The Guarantor Denied The Claim. The People Now That Are The "servicer"of The Loan Are Suing. Link to comment Share on other sites More sharing options...
andbowd Posted January 9, 2008 Report Share Posted January 9, 2008 Thanks for info.AB Link to comment Share on other sites More sharing options...
flacorps Posted January 10, 2008 Report Share Posted January 10, 2008 For that assignment to have a prayer of being effective, there needs to be some language in there that discusses loans to be generated after its effective date. But IMHO, you can't assign something before it exists. You could have an agreement to assign something that didn't exist yet, but that would be different from an actual assignment (which is something that would have to be done later in fulfillment of the agreement to assign). Chances are there is nothing in the assignment that would cover a loan made after the assigment's effective date. You might want to think about timing that revelation for maximum effectiveness. Apprising the other side of it now would give them time to cast about for a way to cure it... Link to comment Share on other sites More sharing options...
Medic949 Posted January 13, 2008 Author Report Share Posted January 13, 2008 that is exactly my defense, thanks. Link to comment Share on other sites More sharing options...
momof5 Posted January 13, 2008 Report Share Posted January 13, 2008 You defaulted on a Guaranteed Student Loan......So even if you stop this one...they will keep coming. There is no SOL on these and you cant discharge them in BK.May I suggest you do something about paying these back? Your name says "medic" so can I assume you are now in a paid position now benefitting from the education you received? Link to comment Share on other sites More sharing options...
flacorps Posted January 13, 2008 Report Share Posted January 13, 2008 You defaulted on a Guaranteed Student Loan......So even if you stop this one...they will keep coming. There is no SOL on these and you cant discharge them in BK.May I suggest you do something about paying these back? Your name says "medic" so can I assume you are now in a paid position now benefitting from the education you received?If the guarantor denied the claim, there is probably something faulty about the loan. Perhaps the program the OP studied under was deceptively marketed as having greater job prospects than were really out there. A lot of that sort of thing went on with the companies that marketed "technical training" ... rope in suckers, get loans extended to them with guarantees (through affiliated lenders), punt them out with worthless diplomas and collect from the guarantors when no job was available.Only the guaranteeing agency has the free pass on the SOL and BK ... the original lender, if stuck with the debt, has all the same problems that a regular lender would have. And if the guaranteeing agency has denied the claim, you can bet the court is going to give the hairy eyeball to the lender if that's made clear to the judge. Momof5, we don't know whether the study that medic949 undertook had anything to do with his present occupation or was helpful in any way to him, and the denial of the guarantee has let us taxpayers off the hook. Why not cut him a break and let him fight this one ... if there wasn't something hinky, the guarantee would have been honored! Link to comment Share on other sites More sharing options...
Medic949 Posted January 14, 2008 Author Report Share Posted January 14, 2008 I did take and complete the paramedic program after receiving a degree in B.A. I don't have a problem repaying the loan if they could show me that i owe them the money. Over the course of six years i have had many student loans, this one sold to a company that refused to show any validation that they own the loan other than to show a loan application that i signed with a different company. I requested copies of canceled disbursement checks, documentation of assignment when the loan was sold years ago only to receive the blanket assignment in question when the suit was filed. My argument to the court is that they need to show ownership of the loan outside of the assignment. The assignment made no mention of specific loan # or amounts. Even if they show all the proper documentation at this point the court should waive all the accrued interest and penalties, but not for the fact that they refused or were unable to show ownership of the loan i would have re payed the loan in a more timely manner. The assignment that was signed 3 years prior had no language that would indicated any future loans in questions would be the property of the assignee. Link to comment Share on other sites More sharing options...
Medic949 Posted January 14, 2008 Author Report Share Posted January 14, 2008 Also since this loan has been denied by the guarantee agency (U.S. Govt.), this is no longer a guaranteed student loan, but rather a traditional written loan agreement between two parties, that is subject to bankruptcy discharge and Ohio SOL. Not that this will every get to the very prolonged 15 years that Ohio has seen fit to impose on written contracts. Link to comment Share on other sites More sharing options...
flacorps Posted January 14, 2008 Report Share Posted January 14, 2008 IF this is in small claims, show up to the pretrial with the assignment they sent you (assuming they didn't attach a different one to the complaint).If it's in a more formal court ... you need to check the RCP in your neck of the woods, statutes and case law. The right thing to do may be a motion for judgment on the pleadings if they attached the assignment. If they didn't attach it, you may need to file a request to produce it, then a motion for summary judgment when they do produce it and it's no good for them. A request for admissions might be needed in between the two. Just going to trial would be a bad thing ... they could show up with a different piece of paper than the one you're holding. Also, doing no discovery could be a bad thing ... it could open you up for a motion for summary judgment on their part, regardless of your answer.And you're right not to pay someone who can't show you a valid assignment that appears to actualy cover your debt ... you could easily wind up paying twice, and that point should be made clear to the judge at every opportunity ... again, the guarantee agency denying the claim strongly indicates that their paperwork is not in order and that they haven't been able to get it in order. No tickee no shirtee! Link to comment Share on other sites More sharing options...
flacorps Posted February 7, 2008 Report Share Posted February 7, 2008 Bueller ... Bueller?! Link to comment Share on other sites More sharing options...
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