An eerily familiar scenario is unfolding among those who find themselves swimming in unmanageable debt. Tens of thousands took out loans, but haven’t been able to keep up. And yet, those debts could be wiped clean because important paperwork is missing.
But this isn’t the housing crisis of 2008. It’s the student loan crisis of 2017.
The New York Times reports these troubled loans, valued at an estimated $5 billion, are the subject of a drawn-out legal dispute between students and creditors who have aggressively gone dogged those who have fallen behind on their payments. Debt defense attorneys recognize that prevailing in these cases requires a litigator experienced in going toe-to-toe with large banks and institutions. No student is going to be able to count on an automatic win in court, but there are strategies that could prove helpful. Continue reading