July 2, 2015 | dan Please contact us if one of the National Collegiate Student Loan Trusts is trying to collect a loan from you in Illinois. NCT files about 125 lawsuits per month in Cook County alone, and more in other counties. Do not allow NCT to get a judgment against you by failing to respond to a summons and complaint. NCT has obtained hundreds of judgments against people who did not bother to defend themselves. If you fail to respond, they can get a default judgment against you and then garnish your non-exempt wages, seize your non-exempt assets and put liens on your property. Also, do not agree to a judgment with an agreement that you will pay a small sum per month for six months or so. NCT tries to get people to agree to this. If you do this you have waived your right to dispute the debt and at the end of that period the judgment can be enforced against your nonexempt assets and up to 15% of your wages. Judgments are enforceable for 20-27 years in Illinois, and bear interest at 9%. Some of these agreements don’t even pay the interest on the judgment. Any agreement should completely resolve the debt, with a substantial discount. Don’t make the mistake of calling NCT or its attorneys or debt collectors before speaking to an attorney. NCT cases often have problems with them for a wide variety of reasons NCT sometimes cannot prove that it has the right to collect on the student loan debt at issue. Sometimes it cannot prove the amount due. Some suits appear to be filed beyond the statute of limitations. NCT loans are actually serviced by NCO Financial/ Transworld, an organization which has a long history of consent orders and government investigations; this casts doubt on the accuracy of any records it produces. We have lots of experience defending NCT cases, and have also brought a number of affirmative claims challenging NCT’s collection practices. If you are currently being sued by NCT, or anticipate a lawsuit in the near future please call us immediately.