[wizardofsnog]

back in the late 80's I attened one of the National Education centers school of electronics. These schools later were labled "student loan farmers", and had one of if not the highest defalut rates in the nation. NEC was sued by a number of state over the years according to my Google search.

The company no longer exists. It was bought out by Olympia. I found this out recently, as I was considering suing them for fraud.

Over the last 20 years, I have filed chapter 7 bankruptcy twice. The first time I thought the loans were removed due to financial hardship. Apparently they were not.

Over the years I have asked DEPT of Ed to send me copies of the records. Only recently have they done so. Like in the last 30 days.
At one time I had the State of Michgian willing to pay off my loans and take them over even though they were in default status. I even paid for a 3 way call between Michigan Direct (as it was called back then) and the Dept of Ed, and again DOE refused to cooperate.

I still live in Michgan, the state that has one of the worst economies in the nation.

The most recent copies of the so called "promisary notes" do not show a valid signature. Where the signature goes, is covered by various stickers and stuff. If there is no valid contract, how can they file a claim?
Can I challenge their claim for lack their being able to show a valid contract?


The loans are growing faster than my paycheck, and for me to pay the minimum, would be the equivilent to my housing costs. I cannot afford to do both.

I have an IRS garnishment on my check and the government is taking nearly 1/3rd of it. Any more and I might as well quit trying.
Now they are threatening garnishment and from what I have heard, it doesn't require a court order first.

It angers me that our government is wasting millions of dollars on illegals, and other things, yet can't forgive a measly 20k or less (orginal amount) loan.


Any help apprecated.

[Mr. Knowitall]

You can try to dispute the validity of the contract, but it seems like a fool's errand given that the contract is real and you have an established history of payment (and nonpayment) stretching back over decades.

[wizardofsnog]

You can try to dispute the validity of the contract, but it seems like a fool's errand given that the contract is real and you have an established history of payment (and nonpayment) stretching back over decades.

And how do you know that they are real?
The US Dept of Education can not even provide a readable complete copy of the original contracts.

Without a readable contract, how is either of the parties to know what responsiblities, and/or options they have available to them?

After reseraching the internet, I have discovered that there is a gap, a hole if you will, that contains thousands of people in simular situations like this one and nothing is being done to help them.

I guess the only way to solve this is to sue the original school, if that is possible, or its parent company, or to get a new law passed that would help people like us. Otherwise we are doomed to having a growing debt that can never be repaid looming over our heads untill the day we die. Such a debt will prevent many of us from being able to save for retirement, thus creating another class of people who when they get older and can no longer contribute to society, to become burdens on that society.

Way to go, Good job America. NOT!

[Mr. Knowitall]

Now you're just arguing. I know the contracts are real because you implicitly told us that they are real.