[CLBS] Student loan proof of claim with lost promissory note

[Tecla Markosky]

Hello all,

FedLoan Servicing filed a Proof of Claim in one of my Chapter 13 cases with
a letter from the "Assistant Vice President of Guarantor Investor
Relations" stating that FedLoan is unable to provide a copy of the debtor's
promissory note for the reason that "[t]he document was not provided to
FedLoan Servicing by the originating lender or servicer." The letter goes
on to state that "[a]lthough a copy of the promissory note is not
available, a summary statement detailing the outstanding principal balance,
accrued interest, and other charges has been included with this Proof of
Claim to support the debt."

Has anyone received a similar letter or had a similar issue regarding
student loans come up in practice? How did you deal with it? Did you object
to the proof of claim? Did you push on the creditor in another way? What
about a situation where the clients would just assume have their student
loans get paid down during their bankruptcy?

Thank you!
Tecla Druffel

Tecla Elizabeth Druffel, attorney at law

TED BK, PLLC

Lewis Clark Plaza Suite 101

111 Main Street

Lewiston, ID 83501

Ph: (208) 743-9569

Fax: (888) 877-4307


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