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STUDENT LOANS

Click here to read about Student Loan Audits   Ask for Shawn at Mortgage Audits Online if you're getting the forensic audit through that site.

 

The process for proving the bank does not own your student loan debt (and therefore can't collect on it) starts with a forensic audit.

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1. Prove they don't own the debt with a forensic audit

2. Send letters to bank outlining the forensic audit with a copy of it -- tell them they have forfeited all legal rights to the debt unless they can validate it (prove they own it). They will very likely ignore you or send you something that "looks" like they own it. Banks love to pretend you have not caught them and will just proceed as usual. 

3. Wait approximately 30-45 days and when they don't respond, you send them another letter saying they have agreed to not owning the debt through their tacit consent. Tacit consent means they did not respond directly to your request to prove they own it.

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For student loans, I have not done this. My thoughts about what I would do are as follows:

        Since they don't have a lien on a home or car, there's nothing to remove.  So then it becomes about the bank reporting it on the credit report -- which can be dealt with by sending a letter to the credit reporting companies with proof they don't own the debt. If the bank filed a motion with the court to get a payment judgment from you, you would simply reply with a Motion to Vacate that judgment and provide proof of all your letters and the audit proving they don't own the debt. 

Think about it: the bank doesn't want anyone to know this can be done.  Going to court is not something they want to do if they know you have proof they don't own the debt. Banks won't admit it, ever!  They will ultimately go away after you have beaten them through letters and paperwork.  You have to beat them with letters and paperwork until they go away.

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SOLAR PANEL LOANS

I have not found a forensic auditor that will do a forensic audit on my solar panel loan. But does that stop me? Never! I know the same fraud is going on, and I can't pay it knowing that. I am going to figure it out and share it with you. 

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So here is how I started the solar panel loan extinguishment process:

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1. I researched my solar company to see if any states' Attorney Generals have sued them - or if any class action lawsuits by consumers have won. On Sunnova, I found both!

2. It turns out, Sunnova illegally bundles fees they then take directly as cash into the financing part of the loan, and they don't tell you this (Truth in Lending, anyone?).

3. Sunnova also has been caught increasing fees and points that they do not disclose in the contract.  That's another Truth in Lending violation.

4. I sent them notice of billing dispute / validation of debt with the points and fees explained and validated in their books. I told them they are not to attempt to collect payments, etc, etc. That was in September. 

5. They continue to try to collect payment from my bank account but I have the bank set up to refuse it.  I have not paid since September. They ignored my certified letters. They have sent no letter asking for payment! Not one.

6. I just checked my account online this week and the balance due is $0.   IT SAYS $0.

7. They have a UCC-1 lien on my solar panels. If they attempt to collect my panels, I will have their tacit consent (since they didn't respond to my letters and I have that proof) that they didn't validate the debt, and therefore do not own it. 

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They have not sent me anything saying they are coming to get the solar panels. I am still researching how to remove a UCC-1 lien from my panels. So this is a work in progress! I may never hear from them again, or they may send me a notice that they are coming to take my panels.  I will keep you posted. In the meantime, my solar panels work perfectly and are still connected to the grid. I haven't made a payment since August.

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