National Collegiate Trust

[Anonymous]

Hi, everybody!
My husband currently has a private loan in collections, placed with National Collegiate Trust. In 2016, he received a notice that he was being sued for the amount. Fast forward to the summer of 2017, the Consumer Financial Protection Bureau is filing a lawsuit again NCT for illegal debt collection. They’re supposed to provide proper paperwork for all their accounts. We were in the the process of saving for a settlement for the loan because we’d like to buy a house. Now we are unsure of what to do. The collection account is no longer showing up on his credit report, but we haven’t received any paperwork and I haven’t read any updated information on the case. Do we just continue waiting/saving for a possible settlement? It’s a little frustrating because our oldest child starts kindergarten in August and we were hoping to have purchased a house by then. Thank you for any advice!

[RobertEG]

Filing of a lawsuit only means there is an asserted violation.

Has NCT either entered into an agreement that has terminated the civil action, in which they have agree to do certain things, such as delte reporting of collections that fall within the lawsuit, or has the civil action proceeded to a judgment?

Until one or the other of those results have occured, then there would be no formal basis for action.

Are you aware of any formal disposition?  Do you have a civil case number?