Student loan borrowers will be released from legal action resulting from unlawful practices by debt collectors, the New York attorney general’s office announced recently.
Among the changes Transworld has agreed to implement:
• “Cease identifying the National Collegiate Student Loan Trusts as ‘original creditors,’ stop identifying documents prepared for litigation as ‘redacted,’ end the obfuscating of entities involved in originating National Collegiate Student Loan Trusts loans, and discontinue the use of misleading language in communications with borrowers by implying that they cannot sue due to the expiration of the statute of limitations"
• Increased training for Transworld staff members.
• Agreeing not to file lawsuits after the statute of limitations has expired. To read more, click here