If National Collegiate Student Loan Trust has sued you, has a judgment against you, or you feel threatened by their actions, we can help! Tariq Law defends consumers against lawsuits filed by National Collegiate Student Loan Trust and assists to protect your rights under the law. Both state and federal law gives you protections against unfair debt collection practices. The Fair Debt Collection Practices Act (FDCPA) and the Fair Credit Reporting Act (FCRA) give consumers significant legal protections. If the company is in violation of FDCPA, FCRA or any other applicable law, we can sue them on your behalf.

 

National Collegiate Student Loan Trust is one of the nation’s largest holders of private student loan debts. It purchases delinquent student loan debts from several banks such as Bank of America, JP Morgan Chase, and Citizens bank and sues the borrowers to collect those debts. It collects debts from borrowers using its loan servicer American Education Services, debt collection agencies and law firms. National Collegiate Student Loan comprises 15 trusts that hold 800,000 private student loans which in total amount to $12 billion. These trusts were created by a company called First Marblehead.

 

National Collegiate Students loan Trusts are associated with:

• National Collegiate Student Loan Trust 2004-1

• National Collegiate Student Loan Trust 2004-2

• National Collegiate Student Loan Trust 2005-1

• National Collegiate Student Loan Trust 2005-2

• National Collegiate Student Loan Trust 2005-3

• National Collegiate Student Loan Trust 2006-1

• National Collegiate Student Loan Trust 2006-2

• National Collegiate Student Loan Trust 2006-3

• National Collegiate Student Loan Trust 2007-1

• National Collegiate Student Loan Trust 2007-2

• National Collegiate Student Loan Trust 2007-3

• J.P. Morgan Chase, N.A.

• National Collegiate Funding, LLC

• Bank One, N.A.

• First Marblehead Data Services

• The Education Resource Institute, Inc. (TERI)

• NCO Financial

 

 

National Collegiate Trust owns only private student debt and not federal loans. Therefore, NCSLT loans are not eligible for the Public Service Loan Forgiveness programm, income-driven repayment plans, or any other perks that the Department of Education provides to its borrowers.

 

Although National Collegiate Student Loan Trust, LLC denies that it is a debt collector, the trust does qualify as a debt collector under the Fair Debt Collection Practices Act (FDCPA) because it effectively purchases defaulted debts in order to collect them. It also owns the account.

 

National Collegiate Trust has a reputation for using aggressive and illegal tactics to collect debts. The Consumer Financial Protection Bureau ("CFPB") in September 2017 penalized the National Collegiate Trusts and Transworld for $21.6 million for pursuing illegal debt-collection lawsuits. The CFPB discovered that Transworld and the National Collegiate Trusts had filed lawsuits against consumers in state courts for alleged debts that they were either unable to prove were actually owed or that were too old to sue. 

 

If you are falling behind in paying your student loan payments that National Collegiate Student Loan Trust purchased, then you may be sued for collection of those loans. If you receive court summons or judgments from National Collegiate Student Loan Trust, contact us right away. We can help you settle your lawsuit with them and can guide you through the process. Depending on your situation, we can assist you to have the judgment vacated, stop the garnishment of your wages, or perhaps settle your debt by a significant amount.

 

Call us at 718-674-1245 or email us at info@tariqlaw.com for further guidance.