Welcome to the Notice Website for the Class Action against National Collegiate Student Loan Trust 2007-2 et al. in the U.S. District Court for the Southern District of New York (Case No. 1:18-cv-1781).
This website contains information for those identified as a potential member of a class action in federal court on behalf of people with default judgments against them in New York state courts for non-payment of student loans. The potential class members were mailed notice of this class action on December 27, 2024.
- This federal lawsuit alleges that Defendants may have fraudulently obtained a default judgment against class members in a New York State court debt collection lawsuit by falsely representing that they could prove class members owed them money on a student loan.Defendants dispute these allegations.
- The lawsuit’s Defendants are: National Collegiate Student Loan Trust 2004-2, National Collegiate Student Loan Trust 2006-4, National Collegiate Student Loan Trust 2007-2, National Collegiate Student Loan Trust 2007-3 (together, the “Trusts" or “Trust Defendants”), Transworld Systems, Inc., in its own right and as successor to NCO Financial Systems, Inc., EGS Financial Care Inc., formerly known as NCO Financial Systems, Inc. (“TSI-NCO”), and Forster & Garbus LLP (“Forster”).
- The U.S. District Court for the Southern District of New York (the “Court”) has allowed this federal lawsuit to proceed as a class action titled Seaman et al. v. National Collegiate Student Loan Trust 2007-2 et al., and on behalf of:
All persons who have been sued in New York State court debt collection lawsuits from November 1, 2012 through February 27, 2018, where the plaintiff was one of the Trust Defendants, with TSI-NCO acting as servicing agent and Forster & Garbus as plaintiff’s counsel, and where a default judgment was obtained, but excluding any individual who appeared in state court to defend themselves and against whom the Trust Defendant named as plaintiff was awarded a judgment on the merits. - The Court has not decided whether Defendants did anything wrong and Defendants maintain that they did not. There is no money available now, and no guarantee there will be any money at any point in the future.
- Class members' legal rights are affected, and class members have a choice to make now:
CLASS MEMBERS' RIGHTS AND OPTIONS
Class members' options are explained in further detail in this notice. To ask to be excluded, class members must act before March 12, 2025.
The Class’s lawyers must prove the claims against Defendants in proceedings to be held on dates yet to be determined by the Court. Also, it is possible the two sides will settle the claims at some point before a final resolution on the facts before the Court. If class members remain in the Class, and money or benefits are obtained from Defendants, class members will be notified about distribution at that time.
Any questions? Please read on and visit the FAQ page.
DO NOTHING
Stay in this lawsuit and remain part of the Class, at no cost to the class member. Await the outcome. Give up certain rights.
By doing nothing, the class memeber keeps the possibility of getting money or benefits that may come from a trial or a settlement. Class members will not have to pay any legal fees as the lawsuit continues. But, class members will give up any rights to sue Defendants separately about the same legal claims in this lawsuit.
ASK TO BE EXCLUDED (A.K.A. "Opt Out")
Opt out of this lawsuit. Get no potential benefits from this lawsuit. Keep certain rights.
If class members ask to be excluded and money or benefits are later awarded or obtained in settlement, class members won’t share in those. But, class members keep any rights they may have to sue Defendants separately about the same legal claims in this lawsuit. Class members have to arrange for their own legal counsel to proceed on these claims on their own.