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Technically there are several National Collegiate Student Loan Trusts. A company called First Marblehead bought private student loan debts, transferred the loans to various trusts, and then sold bonds backed by the loans to investors.
But I know this is not the information you are really looking for. Basically, if you break it down, what you are coming up against is a debt buyer that buys student loans and sues students delinquent on those loans in an effort to make a profit.
The point is, that this is not the federal government, is not your original lender, it is not your college or university, and is not even the guarantor of whatever loan it is that you may have taken out.
Does this mean you should ignore them? NO! This is what will get you into trouble. I have encountered many students that ignore National Collegiate Student Loan lawsuits with catastrophic results. If you ignore the lawsuit the National Collegiate Student Trust will almost certainly get a default judgment against you.
Judgments are enforceable in Florida for up to 20 years. See Fla. Stat. 95.11. And, if a collector gets a judgement against you they can enforce it against your property. This means they can do things like garnish your bank accounts and wages, take certain property, and sometimes even place a lien on real estate titled in your name.
I have also seen a lot of students try to defend the lawsuit without the help of an attorney. In all the cases I have reviewed, I have never seen this turn out well.
Now please don’t take offense at this. I know you are very intelligent. But, successfully defending these cases takes both legal knowledge and resources. It would be like me studying up on mechanics and purchasing tools and a lift to fix my car when it broke down.
Yes, I could do it. But by the time I did I would have spent hundreds of hours learning and thousands of dollars on equipment. I would probably also have to hire a mechanic to teach me. Unless I enjoyed this as a hobby, it would not make economic sense.
Now remember, time is of the essence. If you have already been served, you should immediately contact an attorney. Don’t wait until the 20th day. The longer you wait the worse you make your situation.
It is even better to contact an attorney before you are served. But, even if the 20th day has already passed, still reach out to an attorney.
How I can help you
Your situation may seem hopeless, but it is not. I am happy to give you a free initial consultation. I can quickly look at the complaint and tell you about potential defenses. In some circumstances, I may be able to get the case against you completely dismissed. In some circumstances, I might also be able to force the other party to pay your attorney fees.
While your situation may seem overwhelming, talking to me now may give you relief for years to come. As is generally the case with student loans, doing nothing is the most expensive and time consuming choice you can make.