Defeated National Collegiate Student Loan Trust 2003-1 today in Williamson County District Court

We defeated National Collegiate Student Loan Trust 2003-1 today in Williamson County District Court.  The hearing on our motion for no-evidence summary judgment was not going well for their lawyer, J. David Roberson of Regent & Associates, so he non-suited the case in open court.

In the course of discovery in this case, we have learned that National Collegiate Student Loan Trust 2003-1 does not have the bond required of debt collectors in Texas, in violation of the Texas Finance Code.  They claimed they are not required to post one because they supposedly acquire student loan debt before it goes into default and thus are not “debt collectors” but their own documents filed with the court showed that the assignment occurred after the date of the alleged default.  Their affidavit to the contrary was a “sham affidavit” and was a fraud upon the court.

They also filed this case past the statute of limitations, which is a violation of the FDCPA.  They were untruthful about this in their discovery responses, but again, their own documents and their own affidavit prove they filed it after the statute of limitations ran.  Being that this is private student loan, not guaranteed by the government, state statute of limitations apply, unlike guaranteed student loans.  We will be bringing separate lawsuits against them and their lawyers for this unlawful conduct.