In the ever-evolving landscape of higher education, students are turning to alternative options to finance their enrollments as expenses have increased tremendously. One such option… Read More »Income Share Agreements – What Should Students Be Aware of?
Dealing with student loan collections can be a stressful experience for borrowers. While it is expected/necessary for you to repay student loan debt, you also… Read More »Student Loan Collections: Understanding Harassment and Protecting Your Consumer Rights
The COVID-19 pandemic meant that students in the United States who had just graduated from college were not greeted with a wide variety of jobs… Read More »Student Loans & COVID — What You Need to Know
Frequently in student loan and other collections cases, a person gets sued in Maryland, but the contract specifies that the law of a state other… Read More »The Law of the Forum and Maryland Student Loan Statute of Limitations
We have successfully defended many cases where the debt buyer plaintiff alleged that the statute of limitations was 12 years (not 3 years) because the… Read More »Statute of Limitations and Contract Under Seal in Maryland
At Holland Law, we have defended many lawsuits that were filed after the expiration of the Maryland statute of limitations. There are a few different… Read More »Maryland Statute of Limitations
The CFPB’s Fall 2014 supervisory highlights, covering supervisory activity between March and June, points to failings by student loan servicers and debt collectors. The highlights identified six failings by student loan servicers, including misleading statements to consumers and telephone harassment. Debt collectors’ misconduct included charging illegal convenience fees to consumers paying by credit card, false threats of litigation and improper disclosure to third parties.
Read More »CFPB Supervision Reports Highlights Failings by Student Loan Servicers and CollectorsThe CFPB’s Student Loan Ombudsman has issued a report on consumer complaints about student loans. Of particular interest is situation of private student loan borrowers, whose loans were securitized (bolding added by me for emphasis): While securitization is often closely associated with the mortgage market, securitization activity in the student loan market has also been… Read More »CFPB’s Student Loan Ombudsman Report Reveals Private Student Loan Securitization Problems
On September 16, 2014, The CFPB announced that it would sue Corinthian Colleges, which runs over 100 school campuses for falsely advertising of job prospects and illegal debt collection practices. CFPB has issued this notice to past and current students. The CFPB’s complaint is here.
Read More »The CFPB’s Action Against Corinthian Colleges, Inc.September 26, 2014
This report from the National Consumer Law Center examines the consequences of the Department of Education’s outsourcing of student loan collections to private debt collectors. The report reveals that the Department of Education does little to protect its borrowers from debt collection abuse, and points out that in some respects, the way the DOE pays collectors positively encourages abuses.
Read More »National Consumer Law Center Report: Pounding Student Loan Borrowers
