If you try to find the National Collegiate Trust website, you will see that they are a series of statutory trusts, made up of privately held student loans that were originated by other lenders. Since NCT is an actual set of trusts, it is not a company. The company that owns the NCT is called Turnstile Capital Management, which is in turn owned by a company called Goal Structured Solutions. Good thing that isn’t confusing at all, right? It gets worse.
Going down the rabbit hole starts with a simple Google search
Borrowers searching for a contact number for NCT cannot easily find one online – due to the fact that NCT is not a company, and the company that owns them is not quite as clear as they could be that they are the ones to contact if you’re trying to reach NCT.
I collaborated with Michael Bovee of the Consumer Recovery Network for an article that attempted to shine some light on the relationship between AES, NCT, Turnstile, and Goal Structured Solutions. That article, titled “American Education Services (AES) and student loans in collection“, was written in response to a question that Consumer Recovery Network received from a borrower with NCT private loans. The article lists the phone number for Consumer Recovery Network, which refers people to vetted, legitimate debt relief providers. I receive referrals from Consumer Recovery Network, and if you call their number and press option 4, it connects to me.
Since NCT does not have a readily accessible phone number from a Google search, it seems that people see the number for Consumer Recovery Network in that article and believe that this is actually the phone number from NCT – which in turn leads to me receiving calls from some people angrily demanding why I am garnishing their wages or negatively reporting to their credit. But, I am not a set of statutory trusts – I’m a debt negotiator based in Athens, Ohio. I don’t garnish anyones wages, or do credit reporting of any type.
Should you even be calling a private equity company that has basically declared war on student loan borrowers anyway?
If you need help with your NCT private loan, should you be calling a lender that is well known for being extremely aggressive and misleading? Should you contact their loan servicer, AES, which can only tell you your balance and decline any and all offers? Or should you speak to a debt collector from Transworld Systems, National Enterprise, or others whose job is to collect as much money from you and your cosigners through any means possible?
The answer, of course is D: none of the above. Contact a debt negotiator who has a plethora of experience in dealing with the various entities that make up the multi-headed beast known as the National Collegiate Trust. I have been settling NCT student loans for quite some time, with extensive data and past experiences to fall back on in determining the best route a client should take. If you have NCT loans and you’d like to settle them for a significant reduction, call me at 937-503-4680 today, or fill out my evaluation form here. If you’re being sued by NCT, I can’t represent you because I am not an attorney; but I can connect you with the top student loan defense attorneys in the country, who may even be able to have your case dismissed.
So let’s break down the entities involved with an NCT loan again, and also my role:
-The NCT is a series of statutory loans that are made up of private loan portfolios that their parent company has purchased from various lenders (usually lenders who have exited the private loan business) such as Chase Bank, Bank of America, etc.
-NCT is owned by Turnstile Capital Management, which is a subsidiary of Goal Structured Solutions.
-Goal Structured Solutions uses American Education Services to service NCT private loans prior to default. After default, GSS will assign the loans for collection to various collection agencies such as Transworld Systems, National Enterprise Systems, MRS Associates, and Weltman Weinberg and Reis Co. LPA; as well as many other smaller collection attorneys (when they are trying to pursue legal action against borrowers). NCT loans are not sold to AES or collection agencies – servicers and collectors are simply hired to service and collect on the loans.
-I’m the owner and operator of MyCreditCounselor.net, a private student loan negotiation company that has settled millions in these types of loans. I settle NCT loans often, but I have no relationship with them and no connection to them other than the fact that I negotiate with their collection agencies and attorneys on a regular basis.
-Consumer Recovery Network is a company that provides debt advice and credit card settlement plans, and refers borrowers to reputable debt negotiators and counselors – like me. CRN also has no involvement with or relationship to NCT.
If you really want to contact Goal Structured Solutions about your NCT private loan; their phone number is (866) 290-4222. But if you want actual help and objective advice from an expert, you should probably just contact me instead.