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student loan debt collection

Lawsuits Allege Navient Issued Loans Designed to Fail

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 Increase in 2016

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.

[Read more…] about Student Loan Defaults Increase in 2016

GC Services Sued for Improper Student Loan Collections

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

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Recent Posts

  • Lawsuits Allege Navient Issued Loans Designed to Fail
  • Student Loan Defaults Increase in 2016
  • GC Services Sued for Improper Student Loan Collections
  • Debt Collectors Calling Work
  • Navient and Pioneer Credit Sued For Student Loan Issues

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