TBA Law Blog

Posted by: Amelia Ferrell Knisely on Nov 19, 2015

An increased number of private student loan lenders are taking delinquent borrowers to court, according to the Associated Press, despite less people missing payments. "Litigation is now an accepted collection effort," Christopher Koegel, assistant director of the Division of Financial Practices at the Federal Trade Commission, said. "In the past, it was rare. We're certainly seeing lawsuits we didn't see five to six years ago." Close to five percent of private student loans were delinquent in the first quarter of this year. The Bristol Herald Courier has the story.