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Student Loan by The National Collegiate Student Loan
Nancy,
National Collegiate Student Loan Trust cases are private securitized loans
pooled and sold off in the bond market. They are funded by private banks
and guaranteed by The Education Resources Institute (TERI). TERI is a "non
profit" (allegedly) and they have previously filed for bankruptcy, so
they're no government agency if you ask me.
If the student loans are "Not Qualified" education loans under the
Bankruptcy Code, you'll still need an adversary proceeding to establish
that.
Besides the Undue Hardship test under Brunner, we also can assert the loans
are not qualified education loans under 523a8(i) and (ii).
You're right however, that the burden of proving a loan falls within the
parameters of 523a8 as our own Prof. Jon Hayes helped us clarify before the
BAP recently in a published case, Kashikar. I have yet to stop naming this
debt as "student loans" for the sake of a judicial admission by my client,
but that won't stop the post discharge pursuit.
I hope this helps. These cases are certainly getting more sophisticated.
Christine
Christine A. Kingston, Esq.
Law Office of Christine A. Kingston
5011 Argosy Avenue, Suite 3
Huntington Beach, CA 92649
Office: 714-533-9210
Fax: 714-489-8150
Email: christine@attorneychristine.com
Blog: www.attorneychristine.com
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