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Almost every generation grew up (or is growing up) in challenging economic times. Throughout the United States, however, one actual financial problem faced by any number of individuals is that of student debt. In student loans, over $1.4 trillion is owed by American borrowers. With little to no consumer protection, private student loans equal roughly $100 billion.

A company that goes by the name National Collegiate Trust is a private student loan company that is the nation’s largest holder of this type of debt. Unfortunately, it has a reputation for collecting on its loans using unscrupulous and/or aggressive tactics.

If the National Collegiate Student Loan Trust has initiated collections against you, what can you do? Against their strong-armed collection tactics, do you have any defense?

Trouble for National Collegiate Trust

If you thought you were in trouble with National Collegiate Trust for being behind on your student loans, here’s a little something that might bring a smile to your face: Because they went after borrowers in connection with legally uncollectible loans, National Collegiate Trust experienced legal problems of their own. It seems they were suing borrowers of student loans for loans that couldn’t be proven or for loans in which an expired statute of limitations existed.

What happened?

  • For refunds to approximately 2000 student loan borrowers, they had to set aside $3.5 million.
  • In penalties alone, they had to pay over $19 million because of their actions.

Will this directly affect you? It may or may not. The whole point is that you do have the ability to fight back against aggressive loan holders. You may even win. One of the most important factors here, of course, is having the right kind of legal representation on your side. It’s best to contact an Austin, TX debt resolution lawyer if you find yourself in trouble regarding student loans or any other collectible debt.

What to Do?

If you receive a collection lawsuit from National Collegiate Trust, what should you do?

  • Hire a student loan debt attorney
  • File an answer in response to the lawsuit you received
  • Demand that documentation be provided that proves ownership of your student loan by National Collegiate Trust
  • When you file your answer, as a defense, assert the Statute of Limitations if applicable. In regard to your student loan, there is every chance it has run out

You may be able to receive dismissal of your entire loan debt.

Could you use some assistance and advice regarding a National Collegiate Trust Collects Action Lawsuit? Here’s who to talk to…

The Debt Defenders by Ciment Law Firm, PLLC Can Help You Win Your National Collegiate Trust Debt Lawsuit

For assistance with a National Collegiate Trust settlement, or to fight a lawsuit from the National Collegiate Trust, your best bet is to contact the trustworthy professionals at The Debt Defenders by Ciment Law Firm, PLLC. If you’re unsure of how your circumstances relate to a lawsuit, call us for a free initial case review. At the very least, it’s a positive move in the right direction.

Contact us today at 866-493-1308 for an appointment. You can also fill out our convenient online form to begin communication.