Public Mediation

S.G. vs. First Marblehead Corp

S. G. vs. First Marblehead Corp
1 Cabot Rd Ste 200, Medford, Massachusetts, 02155-5117, United States
Amount Involved: $3,000,007.99
Complaint(s): Bad business practices
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Statement of Claim
Claimant says:
"National Collegiate Trust uses First Marblehead as the financier but none of that information was disclosed. I found out that National Collegiate Trust sells packaged loans into investments which per Illinois law, they are suppose to disclose that information. National Collegiate Trust is a trust which means they have to disclose where the loans are, how they were financed and the amount that is actually owed. National Collegiate Trust never disclosed they purchased this debt and they use American Education Services for to collect on their debt. On several pieces of paperwork, they do not show National Collegiate Trust on all of the paperwork which is required by law in Illinois. I found out about First Marblehead Corporation via a consumer rights attorney here in Illinois. Per the trust regulations for National Collegiate trust, that relationship is suppose to be disclosed. National Collegiate Trust claims they are my lender when per Illinois law, they are 3rd party debt buyer of student loans. I never signed any agreements with NCT so they can't misrepresent that information without proof. First Marblehead Corporation is part of this agreement because you are part of this but this company is not on any of the paperwork which is required. National Collegiate Trust also sues people without proper documentation which is illegal. National Collegiate Trust and American Education Services have ruined my credit due to misinformation and poor paperwork which is illegal in the state of Illinois per a consumer rights attorney. This happened back in 2002 and I just found this out from an attorney here in Illinois."
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Additional Communication Between Claimant and First Marblehead Corp Hide
  • Apr 07, 2016, Claiming party added:
  • I am contacting you by email, my name is Shemonika Graham and I found out that First Marblehead Corporation was part of the financing back in 2002 which I was never notified about. I found out this information from a consumer rights attorney because National Collegiate Trust is trying to collect on a loan against me even though I was never notified the loan was sold. I had a loan with JP Morgan Chase but National Collegiate Trust never told how the loan was financed which is a requirement in Illinois. First Marblehead Corporation is not any of my paperwork showing who financed the loan from National Collegiate Trust is not a lender as they claim. National Collegiate Trust has to use National Collegiate Funding to hold the loan until it is funded but they had to use a financer to achieve this which is First Marblehead Corporation. I have already sent this complaint to the media as well because my credit is now ruined due to National Collegiate Trust. I want this matter resolved because I can't move to an area closer to my job because I have several credit marks on my credit. I am want this matter settled by 4/12/16. This matter has been going on for years and I was never told about First Marblehead Corporation at any point which I have a right to know. Please leave your response through your information here

What Claimant Wants Hide
1. Compensation: false information Apr 11, 2016 $1,000,000.00
2. Recovery of Losses: 10 years of misinformation Apr 11, 2016 $1,000,000.00
3. Credit: my credit is ruined and it is costing me money Apr 11, 2016 $1,000,000.00
4. Pay for claim posting cost Apr 11, 2016 $7.99
Just make me happy!
Claimant invites First Marblehead Corp to make a fair offer to resolve this complaint.
Cash total : $3,000,007.99
  • 0
Do you agree with the claimant’s demands?  (If you are a party to this claim, click here.)

Respondent's Counteroffer

There has been no response to this claim from First Marblehead Corp. This claim will remain posted until resolved
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