Saturday, 30 May 2015 00:00

State Court Collection Lawsuits and Private Lenders

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Have you defaulted on your Private Student Loan? Has it been in collections for a long time? Have you essentially ignored the problem hoping that it would go away? If you have been served with a state court lawsuit, now is the time for student loan resolution.

First step is to understand who the players are, and why you are being sued. The Number One player who most likely is suing you is National Collegiate Trust, or NCT. You may have heard from them directly, or from one of several collection agencies, or collection Law Firms. You may not have any idea why they are suing you, but the most important step in the process is consult with a student loan resolution lawyer immediately. Do not ignore the lawsuit.

NCT has your loan because the original lender, a bank typically, sold your loan soon after you acquired it. Then the loan was packaged up and placed in a trust, now the trust wants it’s money. This is a very simple explanation of a complex process. The business model for NCT and it’s agents is to obtain a default judgment against you. This is what will happen if you do nothing. That is why contact my office immediately upon being served is essential for a fair student loan debt resolution.

Unless you are an experienced attorney in the area of student loan law, do not attempt to answer the lawsuit yourself. A well pled answer must be made as well as all the contractual affirmative defenses you may have. Each case is fact specific and you need an experienced student loan lawyer to assist you to preserve your rights. Do Not Delay. The process is time specific.

You may find yourself being sued by Sallie Mae, or Educap, or any one of several private student loan lenders. All of the above rules apply for student loan debt resolution and to protect your rights.

The Consequences: Losing a case by default is one of the most devastating events that can occur. If this happens, you have lost all your rights to defend yourself if enough time has passed. That is why acting immediately is critical. Failure to act can cause your wages to be garnished. Failure to act can cause your bank account to be levied, meaning totally cleaned out. Failure to act can cause a judicial lien being placed against your property. None of these collection activities are acceptable in student loan debt resolution.

If you find yourself  on the receiving end of a state court collection lawsuit, act now and contact my office. You will receive a free consultation wherein I will review the lawsuit and evaluate your legal position and get you down the road to student loan debt resolution.

Read 4568 times Last modified on Thursday, 28 July 2016 21:43
D.J. Rausa

With over 21 years of experience as a consumer bankruptcy attorney, D.J. Rausa stays on the cutting edge of Bankruptcy and Student Loan Law which enables him to provide vital information to his clients.

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Compassionate. No-nonsense. Great job. Saved me $85K!

I had three choices: two large groups, or Mr. Rausa. I chose Mr. Rausa because of his numerous excellent reviews from clients as well as other attorneys. Also, I wanted someone to provide personal service and have a vested interest in my difficult student loan case.

I certainly made the right choice. Mr. Rausa personally answered two of my phone calls and regularly answered my emails, even on one Sunday evening.

After 30 years of student loan "prison", he got me freedom AND he even got the US Dept. of Justice to dismiss 25% of my loans, which saved me $85K.

I feel like I have a new lease on life because of Mr. Rausa. I wish I could recommend 10 stars.

Posted by a client - September 25, 2018

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D.J. Rausa interviewed by the Wall Street Journal for article on Bankruptcy and Student Loan Debt.

Debt Doc's D.J. Rausa is recognized as a legal expert in Student Loan Debt Resolution and the associated Bankruptcy Laws.

Read what D.J. recently told The Wall Street Journal regarding the probable rise in Student Loan Debt Resolution through Bankruptcy.

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To whom it may concern,
Debt Doc's attorneys are extremely knowledgeable with the complexities of Federal Student Loans.
I went from a thriving career to full medical disability, ending with an SSDI placement. Unfortunately, I lost everything and became unable to continue making the student loan payments, so it was in deferment for over five years. When the SSDI settled I tried to negotiate an affordable payment plan with the loan holders but they refused my efforts, instead demanding over twice the amount I could afford.
I contacted DJ Rausa at Debt Doc and found him to be courteous, responsive and quick to assess my situation. He was sure he could help and took time to answer all questions, which relieved much anxiety. Within months he successfully resolved the debt! With much confidence, I highly recommend Mr. Rausa.
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