Navient is under fire for more student loan issues—this time related to their overall business strategy.
One of the state attorney generals suing Navient said “[t]hese loans were designed to fail . . .”
According to new details from the state lawsuits, Navient allegedly used subprime loans as part of an overall business strategy. Subprime loans, notably, are part of what fueled the mortgage crisis in recent years.
[Read more…] about Lawsuits Allege Navient Issued Loans Designed to Fail
Student loan defaults increased significantly between 2015 and 2016.
According to data from the Department of Education, student loan defaults increased at least 17% between 2015 and 2016. And in terms of real consumers, with real loans, that represents an additional 600,000 borrowers that defaulted on their student loans.
Student loan collector GC Services settled a lawsuit that alleged it engaged in unfair and unlawful debt collection.
The lawsuit alleges that GC Services repeatedly contacted third parties about someone else’s debt and even continued to call after promising to stop calling. In addition, the lawsuit alleges that GC Services left improper voicemails for consumers that resulted in a consumer’s debt being revealed to other people.
GC Services and the Federal Trade Commission have agreed that GC Services will pay a $700,00 civil penalty as part of a resolution of the lawsuit. This is the second time this year that a major student loan collector has been in the news for debt collection of student loans.
[Read more…] about GC Services Sued for Improper Student Loan Collections
Debt collectors can only call you at work under limited circumstances. And once you tell a debt collector to stop calling you at work, the debt collector must stop.
Despite these restrictions under the Fair Debt Collection Practices Act (FDCPA), debt collectors calling a consumer at work can cause major problems. If you are receiving debt collection calls at work, here is what you need to know.
Navient and Pioneer Credit have been sued for their handling of student loans.
The complaint alleges that “Navient has failed to perform its core duties in the servicing of student loans, violating Federal consumer financial laws as well as the trust that borrowers placed in the company.”
[Read more…] about Navient and Pioneer Credit Sued For Student Loan Issues
Debt collectors and landlords go together like peanut butter and jelly. When a landlord has a dispute over rental debt, or damage to a rental property, a landlord will frequently turn to a debt collector to collect the debt.
Many times, the debt collector either misrepresents the amount of the debt, or what can happen if you don’t pay it. If you have been contacted by a debt collector about rental debt, here is what you need to know.