SLM Private Education Loan Trust Lawsuit?
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Who is SLM Private Education Loan Trust?
Student loans can prompt complex financial questions from current and former students. It seems every year some new regulatory wrinkle further complicates what should be a transparent process. However, nothing compares to the confusion caused by trusts such as SLM Private Education Loan Trust. Much of the confusion stems from the oblique language used by Sallie Mae Bank to explain the trusts.
Associated with Sallie Mae, SLM Private Education Loan Trust operates as a Delaware-based trust. The Sallie Mae affiliate pools together numerous student loans to hedge against default risk.
According to the Sallie Mae Website:
“The asset-backed securities issued by the Trusts do not represent interests in or obligations of, and are not guaranteed or insured by SLM Corporation, Sallie Mae Bank, or any of their affiliates, in any capacity, or by the United States, any governmental agency, or any other entity. The asset-backed securities issued by an SMB Private Education Loan Trust listed herein are described in an offering memorandum containing information about the terms and conditions of the asset-backed securities, financial characteristics and servicing information related to the underlying student loan assets, trading information about the asset-backed securities, and other issuance details.”
If you have been sued by SLM Private Student Loan Trust, contact us at Weston Legal.
What Happens With a Judgment?
Your Bank Account Can Be Frozen and Emptied by Many Judgment Creditors
A Judgment Can Often Cloud Title on Your Homestead Property
A Judgment is Published on your Credit Report as a “Public Record”
With a Judgment, certain property can be sold at auction to pay towards the judgment
Do I Need a Lawyer?
The vast majority of collection lawsuits end up with a judgment against the consumer. This is primarily because the consumer did nothing to protect themselves or they attempted to defend the lawsuit themselves.
Most of our cases are dismissed by the creditor prior to trial or we reach a favorable settlement for our clients depending on the circumstances of their situation.
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