Can I Have My National Collegiate Trust Loans Dismissed?

Q: I have been having problems with National Collegiate Trust and a revolving cast of lawyers and debt collectors. I need to move on with my life and not have to deal with this. Can I consolidate and pay off my loans to get them dismissed or negotiate with them to lower the interest that they are claiming? I’ve even been told that my loans are not eligible for consolidation, which sets of my BSometer. All I want is my freedom!

A: I’ve heard the “Your loans are not eligible for consolidation” thing before. I am here to tell you that your BSometer is correct. I’ve said previously that once you pay off your loan, it doesn’t matter where the money to pay it comes from. It could be from a lemonade stand, the PowerBall, or a loan – paid is paid.

Let’s look at making a settlement with NCT. In the first place, you want to make sure that National Collegiate Trust is in fact the holder of your loan. Very often as the loan passes through many hands before it reaches NCT, there is a chance that paperwork has not been properly maintained, and that NCT cannot prove it is the holder of your debt. Unless they can produce the proper documentation, they have no right to sue you in a court of law for a single cent. If that paperwork is not presented on demand, you can ask for a dismissal. Additionally, there is a borrowers defense to repayment if your loans were entered into by fraud, and there is also a statute of limitation that kicks in after five years which could see your National Collegiate Trust loans dismissed.

NCT also has a shady history of not adhering to the Fair Debt Collection Practices Act or the Truth in Lending Act. Both are set up to protect consumers from predatory debt collection practices and from high-pressure lending sales tactics. Violation of these acts by National Collegiate Trust or any of its contractors or employees is illegal and can result in significant fines.

If you are considering negotiating with National Collegiate Trust, I would urge you to come into either our West Palm Beach or Fort Lauderdale offices, and sit down with one of our attorneys or myself. That way I can advise you better than I can through this medium. One thing that NCT counts on is that borrowers will not have access to legal advice in civil court as would be provided in criminal court. They want you to be unsure, and off-balance, and willing to fork over money that you may not even owe. We can take a look at your paperwork, guide you to the best consolidation loan from a legitimate provider, make sure that your rights are protected, and that you won’t be jerked around. We have dealt with the National Collegiate Trust before. They have attorneys on their side, and you should have us on yours.