Sued by National Collegiate Student Loan Trusts?

If yes, then you may be in a position to get the case dismissed, according to a recent news article in the New York Times. The article states that National Collegiate Student Loan Trusts, or NCSLT, can’t find the paperwork for tens of thousands of debts which show that the account had been assigned to NCSLT. The missing documents prevent NCSLT from proving to the court that it is the current holder of the account and that loan is owed to it. 

According to the news article, “National Collegiate’s lawyers warned in a recent legal filing, ‘As news of the servicing issues and the trusts’ inability to produce the documents needed to foreclose on loans spreads, the likelihood of more defaults rises.’ ” What that means to you the debtor is that you may want to take a stand against NCSLT’s lawsuit to make them either prove the debt is owed to it, or get the case dismissed.

NCSLT sues in the name of its trusts with names like National Collegiate Student Loan Trust 2007-2, or National Collegiate Student Loan Trust 2006-1. NCSLT has filed hundreds of cases in Arizona over the past six years. 

You may also have other defenses to the lawsuit, including statute of limitations, school fraud, wrong venue, etc. 

For a consultation about your NCSLT case, give BYBEE LAW CENTER, PLC a call at (480) 756-8822 to set up an appointment to review your individual situation.

National Collegiate Student Loan Trust Loses Arbitration on Statute of Limitations

In a case where National Collegiate Student Loan Trust sued my client in Maricopa County Superior Court to collect on a private student loan, the arbitrator found in favor of the Arizona consumer and dismissed the claim.

Arizona Six-Year Statute of Limitations Applies to Private Student Loans. 

The statute of limitations on a private student loan is the same as any other credit or contract obligation. Thus, if it is a written contract,  signed in Arizona, the statute of limitations is usually six (6) years.

Arizona Four-Year Statute of Limitations Applies to Private Student Loans Incurred Outside of Arizona.

The exception to the six-year statute of limitations is a loan which was entered into in another state other than Arizona. For example, if you signed for the student loan while living in Oregon, then the Arizona four-year statute of limitations should apply.

National Collegiate Student Loan Trust sues Arizona consumers under under several different names, such as NCSLT 2006-1, 2006-3, 2007-2 or NCSLT 2007-4, etc.