Sign in to follow this  
Credithis

As Paperwork Goes Missing, Private Student Loan Debts May Be Wiped Away

Recommended Posts

I talked about this on this board and others. National Collegiate Student Loan Trusts never has the paperwork to prove standing and can be defeated easily with a half way decent Attorney. This is another standing issue and why standing is so important in a court of law. Actually this is a win win for Students saddled with these vultures.

The Times relates cases where borrowers pointed out the trusts had paperwork claiming they went to schools they never enrolled in, owed debts at amounts they’d never borrowed, and featured other glaring inaccuracies about the paperwork filed. That’s thanks to how the trusts work: They buy up private student loan debt, slice it up, and repackage it to sell to investors. Sound familiar? It should: That’s what caused the subprime mortgage crisis and the Great Recession.

http://uproxx.com/life/student-loans-disappear-paperwork-lost-national-collegiate/

https://www.nytimes.com/2017/07/17/business/dealbook/student-loan-debt-collection.html

 

 

 

 

 

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this