Settlement Structure: Claims Made
Active: Closed
Closed Settlement Statement:
According to court documents, the claim submission deadline has passed. Please contact the claims administrator if you have any questions.
Case Summary:Transworld Systems, Inc. (TSI), Weltman, Weinberg & Reis, Blitt and Gaines, NECO Financial Systems (EGS Financial Care, Inc.), and other National Collegiate Student Loan Trust (NCSLT) entities have agreed to settle a lawsuit alleging that they violated state and federal laws in the process of trying to collect student loans. For the purposes of this settlement, NCSLT includes the following trusts:
- National Collegiate Master Student Loan Trust-I
- National Collegiate Student Loan Trust 2003-1
- National Collegiate Student Loan Trust 2004-1
- National Collegiate Student Loan Trust 2004-2
- National Collegiate Student Loan Trust 2005-1
- National Collegiate Student Loan Trust 2005-2
- National Collegiate Student Loan Trust 2005-3
- National Collegiate Student Loan Trust 2006-1
- National Collegiate Student Loan Trust 2006-2
- National Collegiate Student Loan Trust 2006-3
- National Collegiate Student Loan Trust 2006-4
- National Collegiate Student Loan Trust 2007-1
- National Collegiate Student Loan Trust 2007-2
- National Collegiate Student Loan Trust 2007-3
- National Collegiate Student Loan Trust 2007-4.
15-CV-7755
Company: Transworld Systems Inc.
Filing Deadline: April 2, 2018
Objection Deadline: April 2, 2018
Exclusion Deadline: April 2, 2018
Final Approval Hearing: April 25, 2018
Proof of Purchase:No, but the settlement is presumably relying on defendants’ records.
Eligibility:You may be eligible if defendants’ records show
- You have an address in the state of Illinois,
- You owe on a defaulted NCSLT loan, and
- Your loan’s date of delinquency or last payment was made less than ten years before the date of this agreement.
Settlement awards are not cash payments; they include the deletion of credit report entries for the loan, reduced or limited interest rates, a temporary suspension of interest charges, and the ability to enroll in the Higher Education Loan Program (HELP) for additional assistance.
Typical Settlement Amount:Settlement awards include the deletion of credit report entries for the loan, reduced or limited interest rates, a temporary suspension of interest charges, and the ability to enroll in the Higher Education Loan Program (HELP) for additional assistance.
Total Settlement Amount: Unknown
Class Representative Proposed Incentive Fee:$1,500
Law Firm:
Edelman Combs Latturner & Goodwin LLC
Claim Form: Transworld Systems Student Debt HELP Enrollment
Case Name: Eul, et al. v. Transworld Systems Inc., et al.
Settlement Website: Transworld Systems Student Debt Website
Claims Administrator:
Dahl Administration
Emiliya Gumin Farbstein
20 South Clark Street, Suite 1500
Chicago, IL 60603;
Telephone: (312) 917-4504
Facsimile: (312) 419-0379