The Long Legacy of Predatory Private Student Loans
21 Pages Posted: 26 Jan 2021
Date Written: January 15, 2021
Today, borrowers in courtrooms across the country are being sued for faulty or unsubstantiated private student loan debt. This is because predatory creditors are abusing the court system and intimidating people to pay debts they do not owe. The following report from the SBPC, the Maryland Consumer Rights Coalition, SEIU Local 500, and the American Federation of Teachers-Maryland provides additional data for the past year, covering the course of the coronavirus pandemic to date. Despite the devastating impact the COVID-19 crisis has had on Maryland and Maryland borrowers, and despite the ongoing public health risks, private student loan debt collectors have continued to drag these borrowers into court across the state.
Keywords: student loan, student debt, national collegiate student loan trust, dual-tracking, robo-signing, debt collection, debt crisis
Suggested Citation: Suggested Citation