Category «student loan debt»

Statute of Limitations for Private Student Loans

Private student loans are the worst debt in America, bar none.  Lenders have flocked to making private student loans, knowing there are few legal protections available to borrowers.  I can get rid of IRS debt in a bankruptcy easier than I can student loan debt.  One of my clients was told his payment would be …

Trap for the Unwary-Student Loans Under Seal

Unlike federal student loans, private student loans have a statute of limitation.  Some student lenders attempt to extend the statute of limitation to as long as 20 years by inserting language in student loan contract claiming it is one being executed under seal.  A contract under seal is an arcane concept derived from colonial times …

Have You Been Sued by National Collegiate Student Loan Trust?

One of the more notorious private student loan businesses in America is National Collegiate Trust.    National Collegiate Trust is an organization that specializes in the collection of private student loan debt in New Hampshire,  Massachusetts and elsewhere.    Since your loan is one of thousands of student loans transferred multiple times, this can create a real …

Using the Claims Objection Process in Chapter 13 to Resolve Student Loan Disputes

With student loan debt going back years, if not decades, having to disprove a billing error can be a daunting task.   Old payments on older student loans can become important only after assignment to a new servicer when a problem first comes to light.  Even if a borrower finds old canceled checks, how those payments …

Court Sanctions Student Loan Monitor, ECMC, For Abusing the Bankruptcy System

Student loan borrowers won a significant battle when the federal first circuit found ECMC, a student loan monitor, abused the bankruptcy system in its collection of student loan debt.   Hann v. ECMC, 711 F.3d 235 (1st Cir. 2013).  Finding that Hann owed nothing,  both a bankruptcy judge panel and the First Circuit Court of Appeals …