Student Loans

24 Aug Student Loan Servicer Wolves

Debtors who successfully convince the court that they meet the stringent three-part Brunner test for hardship discharge of student loans may not be out of the woods if their loan servicer is Educational Credit Management Corporation also known as ECMC. ECMC is the default servicer for loans in bankruptcy in a long list of states, and serves as the primary servicer for Stafford and Plus loans in Virginia and Oregon. It is chartered as a nonprofit corporation that, according to its website, exists to provide a unique range of services to students, schools and lenders participating in the Federal Family Education Loan program. That appears to be just part of the wooly mantel for this wolf.
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