Are You Being Treated Fairly by Your Private Student Loan Servicer or Collection Agency?
The high cost of education and a
sluggish economy have caused people to struggle to pay off their private
student loans. Most people want to do the right thing and pay back what
they owe. But sometimes financial hardship and an unyielding lender can force a
borrower into default or wage and tax garnishment. Garnishment of 25% of a borrower’s income can
last a lifetime.
Social security can be
garnished if a solution is not negotiated.
Private student loan lenders like the Royal Bank of Scotland, Citibank
(RBS), Wells Fargo and Discover Card often give up on negotiating with a
borrower completely and sell the debt to National Collegiate Trust (NCT) who is
nothing more than a debt collector.
People often think that they can explain their situation to a collector
like NCT to help find a solution, when in return they find only obstacles and
misinformation. If this is happening to
you, it may be time to talk to an attorney.
The Student Loan Law Group represents
borrowers and defends them against aggressive collection practices and unfair
garnishments. There are strict laws covering student loans and how agencies can
collect on these loans. The laws are there for your protection. The Higher
Education Act, the Truth in Lending Act, the Fair Debt Collection Practices
Act, the Fair Credit Reporting Act are just a few of the laws in place to
protect consumers with student loans. There are also a myriad of state laws in
place for consumers as well. Student
Loan Law Group can make sure they follow the rules.
For example, are you having issues
with any of the following?
-Lost paperwork when applying for
-Incomplete information about your
-Errors not being corrected in a
-When switching servicers, lost or
improperly applied payments, insufficient communication
-Conflicting information from
-Harassing or threatening
communications from your collection agency or servicer
-Obstacles to repayment incentives
for which you qualify
-Difficulties releasing a co-signer
from the loan after successful payments
-Loan acceleration when you have
been making on time payments
-Not receiving your student loan
This is just a brief list of what
can be happening to you. As an advocate for borrowers, the Student Loan Law
Group wants people to know that just because they may be struggling with
student loan payments does not mean they deserve to be treated unfairly or
given the run around. We are here to help defend you against unfair collection
Because student loans are different than regular
loans and cannot be discharged in bankruptcy, it is important to speak to
someone who is knowledgeable specifically in the area of student loans.
They won’t just go away. If you cannot afford
your current student loan payment and your servicer is not helping you, or if
you feel you are being treated unfairly by your servicer, it's time to get some
outside help. Contact that Student Loan Law Group now.