There are two types of student loans. One is a Federal Student Loan
which is given by the Department of Education, also known as the DOE.
But because those funds are limited, many students supplement the
need for additional money for their education by taking out Private

Student Loans. The approach to dealing with problems should they arise
are completely different.

Private student loans originate from banks you most likely have heard of. Banks such as Chase, Bank of America etc. So the bank that actually makes the loan to you is called an originator. Shortly after making you the loan, the
bank transfers the loan to an entity called National Collegiate Funding, LLC.
This is similar to when you default on your credit card payments and the bank sells the debt to a debt collector. However, the big difference is that
the transfer of the student loan is not dependent on whether or not you default.

So, National Student Loan Trust, LLC does not service your loan or collect the payments you make. They simply hold the loan until it is transferred into a trust. But who collects the money? I mean who came up with ths convoluted means of handling money anyway? And, do they know the meaning of the word simplicity? . So by now, who actually owns the loan?

The owner is the Trust, again National Collegiate Trust, LLC. Yes, there are many National Collegiate Trust’s that exist and hold these loans. The loans are bundled together as financial instruments. These instruments are then sold to investors in the form of bonds and pay a return to them.

It is very difficult to say who actually owns your loan, in other words which of the many trusts actually gets the money. This ultimately works in your favor should you run into trouble keeping up with the payments.
If you go into default on your private student loans the creditor, and this applies to all unsecured debts, must be able to prove, among other things,
a- That you actually took out the loan.
b- That the entity suing you actually owns the loan and has the legal right to sue you.
c- That the amount of money they say you owe is in fact correct.

There is far more involved in challenging the collect ability of the debt.
What I am showing you is that rather than rolling over and playing dead if you are sued or run into trouble keeping up with the payments is that there is help available.

American Debt Enders offers an outstanding program to help you get debt relief from these loans should you need it. The program works in much the same way as our debt settlement program which forces the holder of the debt, supposedly, to prove that they even have a right to sue you and much more. This process is called debt validation, and simply applies the many consumer laws designed to protect you, the consumer, and while this is going on, places money in an escrow account so that should a settlement need to be made the funds will be available to make the lowest settlement possible, on your behalf. This is a very powerful combination approach that is very effective.

To qualify for this private student loan relief program, consumers must have a minimum of 7500.00 dollars of student loan debt, and be able to afford 1% of the debt amount as a monthly payment. In other words if the debt amount is 7500.00 dollars, the consumer must be able to afford 75.00 per month.

So, please, if you are burdened by private student loan debt, suffer no more. After all, the purpose of your education was to improve your situation, not make it worse. Feel free to call us or visit the American Debt Enders website to contact us for help. We have counselors who specialize in this program and would be more than happy to speak to you about helping to resolve your debt problem.
Yours Truly

Steven Ciantro
Consumer Advocate
American Debt Enders
Rated 3rd Nationally
Certified Credit Counselor
TalkShoe Radio Host
Member National Association of Certified Credit Counselors
Debt Expert for Gail Kasper‘s Top 1% Club
Top 1 Percent Club
Linkedin Profile
Author #1 Ranked Debt Relief Newsletter