At the Law Office of Simon Goldenberg PLLC, we take great pride in the
results we help our client’s achieve. Although results vary, we
strive to attain the maximum reduction possible in each client’s
unique situation. If you’ve been sued for a student loan debt in
New York or New Jersey, call us to learn how we can defend the action
and potentially settle the debt for less then what you owe.
Student Loan Debt Reduction Lawyers
Call Today: (888) 301-0584
Lawsuit from National Collegiate Student Loan Trust
Our firm was recently hired to assist a client with resolving a judgment
originating with a private loan from
National Collegiate Student Loan Trust 2007-1. With interest and fees,
the balance exceeded $60,000. After the defaulted loan debt was reduced to a judgment, it was assigned to
Transworld Systems, Inc. The lawsuit was brought in the Superior Court of New Jersey, County of
Middlesex. The judgment creditor assigned the debt to the law firm of
Houslanger and Associates PLLC for post-judgment collections. Todd Houslanger is reputed for his success
in being able to locate and seize bank accounts belonging to judgment debtors.
The borrower was unaware that a private student loan lawsuit was brought
against him until he saw the judgment appearing as a public record on
his credit report. He did not acknowledge receiving the summons, complaint,
or notice of entry of the judgment. After identifying the judgment information
on his credit report, he promptly sought the assistance of our student
loan lawyers to explore his resolution options.
Negotiating a Reduction on a Private Student Loan
As part of our negotiations, we dedicated time to gather the borrower’s
hardship information so we can help the creditor understand why he’d
be unable to repay the debt in full. The borrower had an unfortunate bout
of unemployment which was followed by a period of underemployment. He
had very little savings, and lacked any significant assets such as real
estate. It is typical practice for a creditor to conduct some level of
due diligence on a debtors financial profile when considering a settlement
Since our Client had very little money to offer, he was fortunate to have
a friend willing to lend him a lump sum to settle his student loan lawsuit.
After several rounds of negotiations, the attorneys for Houslanger &
Associates PLLC were able to get approval from their client to accept
a settlement of
$15,000 in full satisfaction of the debt. The reduction was so substantial that our client was able to borrow the
funds in full to take advantage of the deal.
As a result of this settlement, the borrower:
Saved over $45,000 from the debt owed to
National Collegiate Student Loan Trust
- Reduced his Student Loan Debt by 75%;
- Avoided potential wage garnishment and bank restraint.
The Stipulation of Settlement also provided that upon clearance of the
settlement payment, the Plaintiff’s would issue a Warrant to Satisfy
Student Loan Lawsuit Attorneys
Just because you’ve been
sued for student loans doesn’t mean that it’s too late to get help. In fact, it might
be a great opportunity to get an attorney involved to defend you and to
conduct settlement negotiations. Even if you've missed the time to
obtain defense from the lawsuit and already have a judgment against you,
it still may be possible to negotiate a debt reduction. Our attorneys
provide defense from student loan lawsuits in NY & NJ brought by:
- National Collegiate Trust;
- Arrowood Indemnity;
- United Guaranty;
- And nearly every major lender and debt buyer.
Stop losing sleep over your student loan lawsuit. Contact our legal team
to learn your options for relief.
Call us at (888) 301-0584 to schedule your free evaluation with a student
Results vary; prior results do not guarantee similar performance. While
we strive to maintain accuracy and provide relevant case histories, in
order to protect the confidentiality of our client(s), all numbers are
approximations and are offered for illustrative and general informational
purposes only. This page does not purport to contain any legal advice.
Call us for an evaluation of your situation