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Government now relying on Law Firms to recover student loans

Lol pretty soon biglaw firms will be suing law school gradua...
Cobalt temple travel guidebook
  04/27/17
If these students can't pay, what's the point of civilly pro...
Charismatic Kitty Cat Hospital
  04/27/17
EXTRACT whatever you can.
Cobalt temple travel guidebook
  04/27/17
This isn't Haiti. Even proles can afford $100 a month.
electric psychic tanning salon
  04/27/17
lol, the CFPB literally sues student-debt collection firms i...
Self-centered Volcanic Crater Idea He Suggested
  04/27/17
The fuck? They arent selling the debt but are paying firms t...
electric psychic tanning salon
  04/27/17
while i love the idea of law firms going after deadbeat law ...
pontificating boyish water buffalo church
  04/28/17
ljl, gov't clumsily attempts to solve problem it caused, new...
Galvanic Duck-like Foreskin Parlour
  04/27/17
If I could get this business from them I'd quit my fucking j...
electric psychic tanning salon
  04/27/17
This is what I am thinking. Open up a debt collection mill
Comical black resort boiling water
  04/27/17
So is what is happening that whereas before the fed gov woul...
Comical black resort boiling water
  04/27/17
Debt collection lawyers are usually pure shit, don't have th...
Soul-stirring Ruddy Multi-billionaire School
  04/27/17
CR. they're also usually unethical as fuck until it bites t...
cheese-eating dun regret piazza
  04/28/17
obviously, the government should not be hiring private attor...
pontificating boyish water buffalo church
  04/28/17
biglaw aspies suing their law school classmates
tantric burgundy area hunting ground
  04/28/17
ain't it great?
pontificating boyish water buffalo church
  04/28/17
There should be a bar exam question asking if you can be for...
aquamarine stag film
  04/28/17
And the answer is yes in the context of clearing title on sh...
electric psychic tanning salon
  04/28/17


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Date: April 27th, 2017 11:00 PM
Author: Cobalt temple travel guidebook

Lol pretty soon biglaw firms will be suing law school graduates with hundreds of thousands in outstanding loans.

http://www.newsworks.org/index.php/local/education/102592-us-increasingly-hires-private-law-firms-to-pursue-long-overdue-student-loan-payments

From 2006 to 2014, the government had not sued more than 25 people a year in Philadelphia over student loan debt, and usually represented itself in court.

But that dramatically increased in 2015, when federal authorities — desperate to recoup a record $137 billion in student-loan defaults — brought an experimental strategy to Philadelphia that has been increasingly deployed nationwide: Using debt-collection law firms to sue borrowers, almost all of whom are low-income.

In the Philadelphia area, McNally and more than 200 other borrowers who had long ago defaulted on their student loans, have found themselves defendants in federal cases.

Already in 2017, the federal government is on track to more than quadruple the number of student-loan lawsuits, compared with the volume before private law firms were involved.



(http://www.autoadmit.com/thread.php?thread_id=3598119&forum_id=2#33181284)



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Date: April 27th, 2017 11:03 PM
Author: Charismatic Kitty Cat Hospital

If these students can't pay, what's the point of civilly prosecuting them? To impose "collateral consequences" to deter future risky borrowers?

(http://www.autoadmit.com/thread.php?thread_id=3598119&forum_id=2#33181301)



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Date: April 27th, 2017 11:04 PM
Author: Cobalt temple travel guidebook

EXTRACT whatever you can.

(http://www.autoadmit.com/thread.php?thread_id=3598119&forum_id=2#33181302)



Reply Favorite

Date: April 27th, 2017 11:10 PM
Author: electric psychic tanning salon

This isn't Haiti. Even proles can afford $100 a month.

(http://www.autoadmit.com/thread.php?thread_id=3598119&forum_id=2#33181344)



Reply Favorite

Date: April 27th, 2017 11:08 PM
Author: Self-centered Volcanic Crater Idea He Suggested

lol, the CFPB literally sues student-debt collection firms in federal court all the time.

(http://www.autoadmit.com/thread.php?thread_id=3598119&forum_id=2#33181329)



Reply Favorite

Date: April 27th, 2017 11:09 PM
Author: electric psychic tanning salon

The fuck? They arent selling the debt but are paying firms to collect on it? Are they mental? The reason you sell bad debt is because there are often very expensive servicing mistakes associated with your collection efforts pre-litigation that are costly as fuck.

When you assign the debt that shit becomes a no-go for the Defendant because the new entity doesnt have access to the last entities servicing notes. All they have is a payment history and the note the defendant signed. Discovery is then very straight forward and there are few if any counterclaims against the Plaintiff. The Defendant is welcome to bring in the last servicer but that wont help them with the current Plaintiff. This is why most bad debt is sold before they file a Complaint.

(http://www.autoadmit.com/thread.php?thread_id=3598119&forum_id=2#33181341)



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Date: April 28th, 2017 12:37 AM
Author: pontificating boyish water buffalo church

while i love the idea of law firms going after deadbeat law grads,

(http://www.autoadmit.com/thread.php?thread_id=3598119&forum_id=2#33181862)



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Date: April 27th, 2017 11:10 PM
Author: Galvanic Duck-like Foreskin Parlour

ljl, gov't clumsily attempts to solve problem it caused, news at 11

(http://www.autoadmit.com/thread.php?thread_id=3598119&forum_id=2#33181343)



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Date: April 27th, 2017 11:11 PM
Author: electric psychic tanning salon

If I could get this business from them I'd quit my fucking job and set up a mega collections firm. Whose dick do I have to suck to get 8 figures of this shit?

(http://www.autoadmit.com/thread.php?thread_id=3598119&forum_id=2#33181350)



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Date: April 27th, 2017 11:18 PM
Author: Comical black resort boiling water

This is what I am thinking. Open up a debt collection mill

(http://www.autoadmit.com/thread.php?thread_id=3598119&forum_id=2#33181391)



Reply Favorite

Date: April 27th, 2017 11:17 PM
Author: Comical black resort boiling water

So is what is happening that whereas before the fed gov would sell the debt, now they are keeeping it and hiring lawyers to enforce?

That's what it sounds like but the article is not clear:

"Engaging private contractors for debt collection has for generations been a favorite tool of the government in attempting to recover defaulted debt. Hiring private attorneys who specialize in securing liens and other ways of forcing repayment has been used far less frequently."

(http://www.autoadmit.com/thread.php?thread_id=3598119&forum_id=2#33181383)



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Date: April 27th, 2017 11:18 PM
Author: Soul-stirring Ruddy Multi-billionaire School

Debt collection lawyers are usually pure shit, don't have the time to do good work, or both.

If you're persistent, there's a good chance you can just run them into the ground.

(http://www.autoadmit.com/thread.php?thread_id=3598119&forum_id=2#33181395)



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Date: April 28th, 2017 12:28 AM
Author: cheese-eating dun regret piazza

CR. they're also usually unethical as fuck until it bites them in the ass.

(http://www.autoadmit.com/thread.php?thread_id=3598119&forum_id=2#33181804)



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Date: April 28th, 2017 12:41 AM
Author: pontificating boyish water buffalo church

obviously, the government should not be hiring private attorneys to collect these debts

they should be hiring/creating government lawyers to do this

that takes care of meanest's issue above

(http://www.autoadmit.com/thread.php?thread_id=3598119&forum_id=2#33181887)



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Date: April 28th, 2017 12:34 AM
Author: tantric burgundy area hunting ground

biglaw aspies suing their law school classmates

(http://www.autoadmit.com/thread.php?thread_id=3598119&forum_id=2#33181846)



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Date: April 28th, 2017 12:43 AM
Author: pontificating boyish water buffalo church

ain't it great?

(http://www.autoadmit.com/thread.php?thread_id=3598119&forum_id=2#33181894)



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Date: April 28th, 2017 12:37 AM
Author: aquamarine stag film

There should be a bar exam question asking if you can be forced to sue yourself.

(http://www.autoadmit.com/thread.php?thread_id=3598119&forum_id=2#33181859)



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Date: April 28th, 2017 12:45 AM
Author: electric psychic tanning salon

And the answer is yes in the context of clearing title on shit you have multiple liens on.

(http://www.autoadmit.com/thread.php?thread_id=3598119&forum_id=2#33181912)