A Student Loan Lawyer Fights For You
Here is the main reason you need a student loan lawyer to fight for you and protect you against student lenders, such as Navient, Discover, National Collegiate Trust, etc. — there is A LOT of money exchanging hands in the student lending market. Whenever there is a lot of money exchanging hands in an industry, people tend to get greedy and break the rules. It is no secret that student lenders, servicers and collectors tend to break the rules.
The CFPB, the government’s financial watchdog agency, recently reported that the federal government’s own student loan debt collectors are breaking the rules. According to the CFPB, “Some of the debt collectors, who work under contracts from the Education Department and weren’t identified by the CFPB, threatened borrowers with lawsuits even though they had no intention of suing. Some used call scripts and letters that misled borrowers about the benefits of repaying their defaulted federal student loans. Misleading borrowers about their debts is generally illegal under the Fair Debt Collection Practices Act.” Read more here:
Or there is the story of the “Corinthian 15” who is protesting student debt because there for-profit school, Corinthian College, illegally pushed predatory loans on their students after lying to them about career assistance and job prospects. The government shutdown Corinthian College due to this fraudulent lending and collection scheme, but previous students are still being collected against.
Basically, there is A LOT of rule breaking going on in the student lending industry, which is why you need a student loan lawyer to fight for you and protect your rights. These lenders and collectors will definitely have lawyers on their side. It is in your best interest to have one as well.