I’m writing today to ask you to sign a new petition to correct an enormous injustice by student loan company American Student Assistance (ASA).
Malissa only borrowed $17,000 for school, however; her husband had borrowed over $117,000 in student loans. During their marriage, they were encouraged by their lenders to consolidate their separate loans into one so as to lower their monthly payments. Seemed like a good idea at the time - until they got divorced.
Because of the sweetheart deals from Congress and the enormous collections powers given to student lenders, the divorce court refused to even consider the issue of their consolidated loan, leaving Malissa to fend for herself with a student loan company that doesn’t care about anything but getting paid.
When her ex-husband stopped paying on their consolidated loan, Malissa was left on the hook for the full amount of both loans, even though she only borrowed $17,000. Now, every month, $1000 of her income is being garnished before she ever sees a dime. What’s worse? ASA refuses to even give Malissa any information about the loans because her ex-husband has been uncooperative.
Malissa drafted this petition with the hope that public pressure upon ASA will force them allow her to separate her loan from that of her ex-husband’s. She’s already paid back over $13,000 of the $17,000 that she originally borrowed, yet, according to ASA, she’s fully responsible for the full $134,000. This is a huge injustice that epitomizes the abuses of the student lending industry and, together, we must ALL take a stand!
Rob, Natalia, Kyle, Aaron & The Student Debt Crisis Team