Student Loan Servicing Lawsuit
“It feels like there‘s no winning.“
That’s how it always seems to begin — when the many individuals burdened by student loan debt call us, reporting everything from loan servicers that add unwarranted late fees, fines, interest, and worse.
“Are they out to get me?””This can’t be legal.”We’ve heard it all, and now, with recent reports by the Consumer Financial Protection Bureau, we’re starting to get a full picture of just how serious these threats may be.
If you are worried one of your student loan providers is behaving deceptively, contact a student loan lawyer at 866-226-6442 or contact us online. You may be able to receive financial compensation and even damages for filing a lawsuit against your wrongful loan servicer.
We’re all well versed in the news that no other advanced country in the world asks its students to take on heavy debt for an education. It’s as if our students all face this trade-off: Take on high amounts of debt for a college education, or risk low pay and mediocre career opportunities.
What we didn’t think we signed up for, though, was the enormous burden that may come with the enormous debt — a burden on borrowers that is not only unfair, but also extremely deceptive or even fraudulent for some. The fact is: The federal government contracts with the majority of student loan servicers. However, these servicers have a responsibility to taxpayers and borrowers to make sure that their communications are both clearly communicated and understood.
First it was a mortgage crisis. Now, we’re facing a student loan crisis. One thing is clear: Deceptive and misleading loan practices need to stop.
Deceptive Student Loan Practices 101
Our student loan lawyers are concerned that student loan servicers are making already burdensome student debt even more troubling. The largest student loan servicers are Navient, Discover Bank and Great Lakes.
You May Have a Claim Against Your Student Loan Servicer If Your Loan Servicer:
- Subjected You to Improper Late Fee Charges
- Misdirected or Failed to Record Your On-Time Payments
- Used Harassing Collection Tactics
- Miscommunicated or Failed to Communicate Need-to-Know Information
- Failed to Help Move You to a New Repayment Plan When You Were Falling Behind on Payments
- Failed to Inform You About All of Your Repayment Plan Options
- Failed to Inform You About Your Loan Relief Options or Failed to Provide Loan Relief
- Failed to Record Automatic Deductions
- Ignored Your Requests to Pay Off Higher-Cost Loans First
- Lost Paperwork or Repeatedly Requested Documentation They Should Have Had
- Misled You Into a Loan Forbearance
Because of the highly complicated nature of student loans, we encourage you to contact a student loan lawyer online even if you are not sure whether your troubles with your student loan servicer stem from one of the problems listed above.
Baron & Budd offers you free, confidential and expedient consult that can help you figure out your legal options. Our student loan lawyers will also be able to help you investigate your potential case — and we work on a contingency fee, meaning there is no upfront cost, and we will only be paid if we are successful in receiving compensation for you.
How Can a Student Loan Lawsuit Help Me?
- Financial Compensation. We may be able to help you get compensation for wrongful fees, interest and more — in addition, a lawsuit may be able to help you get financial compensation for damages to help you pay off your student loans even faster.
- Retribution. Holding wrongdoers accountable doesn’t only feel good, it also does good. Filing a student loan lawsuit can help you get the retribution you need to help you move on from your student loan debt nightmare!
- Create Change. It’s not always a cliché: Filing a student loan lawsuit against a servicer that failed you helps to make sure that students and borrowers won’t be similarly wronged in the future.