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Private Student Loan

Date: Tue, 06/29/2010 - 15:18

Submitted by anonymous
on Tue, 06/29/2010 - 15:18

Posts: 202330 Credits: [Donate]

Total Replies: 8

Private Student Loan


Can a collection agency sued for a private default student loan, if the financing agency and school was sued for fraud by an Indemnity Insurance Company.


Back story, "Franklin, the operator of 33 truck driving schools, was charge in U.S. District Court for the Western District of Kentucky in 2004 with racketeering for operating a loan mill. Franklin steered financially hard-pressed students into loans with the Student Finance Corporation (SFC). The finance corporation then purchased credit risk insurance from Royal Indemnity." Now how do I fit in this mess. I co-signed a loan for my son to go to this school in 200l. He was unable to get a job in that field, and now he is unemployed. So the collection agency got a judgement per their Attorney in court against me. Now they can garnish my wages. My possible recourse, to file Chapter 13 Bankruptcy, and to challenge this in court.

P.S. Read story about Decker College.


lrhall41

Submitted by anonymous on Sat, 07/03/2010 - 16:04

( Posts: 202330 | Credits: )


Court Case: Royal Indemnity company v Pepper Hamilton LLP, W.Roderick
C.A. No. 05-165-JJF
Article, www.villagevoice.com - Bill Weld's School Daze The GOP candidate's troubled term at a construction training college.

www.post-gazette.com - Suit alleges big law firm let Ponze scheme unfold

www.tmcnet.com - Microsoft News Headline: Students offer glimpse into Decker's recruiting

Sorry I don't know how to link.


lrhall41

Submitted by anonymous on Sun, 07/04/2010 - 16:26

( Posts: 202330 | Credits: )


Court Case - Royal Indemnity Company v Pepper Hamilton LLP C.A. No. 05-165-JJF

Articles:
www,villagevoice.com - Bill Weld's School Daze The GOP candidate's troubled term at a construction training college

www.post-gazette.com - Suit alleges big law firm let Ponzi scheme unfold

www.tmcnet.com Microsoft News Headline: Students offer glimpse into Decker's recruiting

The loan company was SFC with Wells Fargo Bank as trustee.


lrhall41

Submitted by anonymous on Sun, 07/04/2010 - 18:25

( Posts: 202330 | Credits: )