Liabilty for Student Loans Where the School Shuts Down Before You Attend Classes
My question involves collection proceedings in the State of: NV
Hello and thank you for reading my post.
I attended National Pilot Academy, a Part 141 flight school in NV, in conjunction with attendance at Utah Valley University under the professional pilot program. I received 3 private student loans in order to receive flight school training. My tuition for training was paid to National Pilot Academy and before receiving the training I paid for the owners fled with all the students tuition and later filed bankruptcy. I did not receive any of my paid tuition from the bankruptcy proceedings and the resulting class action lawsuit. The owners are currently in jail.
Unfortunately I owe a significant amount of money for training I did not receive and I have a cosigner which means I can't file bankruptcy as the lenders would go after my cosigner. That's not something I'm willing to do.
My question is do I have any legal recourse or options beyond bankruptcy or simply hoping to pay off the loans over time? I have read online that if one does not receive benefit for the loans that they may be forgiven? I do not know if this is true. The only lawyer I talked to only recommended I file bankruptcy.
Thank you.
Rob
Re: Did Not Receive Benefit for Loans
Read this and see if any of the described circumstances applies to your situation: http://studentaid.ed.gov/repay-loans...s-cancellation
If not, then you are a victim of theft/fraud. What has the lender said about your situation? If the school stole your money that did not come from loans you would still be out the money, so you might not have much in the way of recourse except for bankruptcy, and that will not let your cosigner off the hook.
Re: Did Not Receive Benefit for Loans
How long ago were you supposed to attend?
Re: Did Not Receive Benefit for Loans
Thanks for the link, but it does not help much because I didn't take out federal student loans, they were private loans. When I contacted the lender they basically said tough luck, but I doubt they were going out of their way to help me.
As far as when I attended the flight school it was in 2008 when they shutdown, however the loans were disbursed through Utah Valley University which I have been attending since then through spring 2013.
Re: Did Not Receive Benefit for Loans
Re: Did Not Receive Benefit for Loans
Quote:
Did Not Receive Benefit for Loans
show me something that allows you to put that upon a 3rd party lender that is not a party to the contract such that the lender would be required to accept the loss.
in other words; provide some support for this statement of yours:
Quote:
I have read online that if one does not receive benefit for the loans that they may be forgiven?
there are situations where one does not have the benefit of the bargain within a contract that would allow a defense to repaying it but in this situation, you have a lender that had nothing to do with who you chose to pay the borrowed money to .
Re: Did Not Receive Benefit for Loans
Quote:
Quoting
jk
show me something that allows you to put that upon a 3rd party lender that is not a party to the contract such that the lender would be required to accept the loss.
in other words; provide some support for this statement of yours:
You must not have read my whole post. The following sentence reads, "I do not know if this is true." If I had evidence that were true I wouldn't be asking for help.
Re: Did Not Receive Benefit for Loans
Quote:
Quoting
RS Reaver
You must not have read my whole post. The following sentence reads, "I do not know if this is true." If I had evidence that were true I wouldn't be asking for help.
I did read your whole post.
since you don't like subtlety:
no, it isn't true, at least in your situation.