Debt Relief Lawyers
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National Collegiate Trust Student Loan Debt Reduced by 75%

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


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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 reduction.

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:

  1. Saved over $45,000 from the debt owed to National Collegiate Student Loan Trust
  2. Reduced his Student Loan Debt by 75%;
  3. 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 the judgment.

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;
  • Navient;
  • 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 loan lawyer.


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

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