Art Institute Lawsuit The third, and typically last attempt, occurs around 45 days overdue . i counsel my clients that this could be the last attempt made by them. This attempt are often by phone, but should be in letter form. It should notify the customer of the overdue amount, also as reciting the dates and times of phone calls, voice mails left, and correspondence. Include an up so far invoice with all current charges. Lastly, inform the customer that ought to the quantity not be paid within a brief period of your time , like 5 to 7 days, that the account are going to be turned over to your legal counsel. even be bound to “cc:” your attorney at rock bottom of the letter.
If at now you’ve got not received any response from the customer, the owner only has two choices, pursue the monies legally, or just write it off. I also find that my clients like better to take these intermediary steps, albeit it does take some overtime and energy on their part. additionally to the success rate of collecting money in need of litigation, it also gives the owner the mental comfort of knowing that they did everything in their power to gather the cash before a lawsuit. It gives them the peace of mind to understand that they might not have done anything in need of litigation, which losing a customer like this is often not necessarily a nasty thing.
Type of Art Institute Loan ForgivenessThere is a glimmer of hope for students whose present and future financial conditions were affected by the recent closure of the Art Institute colleges. A large portion of students are getting loans forgiven under the Art Institute loan forgiveness programs. Students caught in the unfortunate incident of Educational Management Corporation’s demise can apply for loan forgiveness in two ways:
- The Closed School Student Loan Program
- The Borrower’s Defense against Repayment Program
Closed School Student Loan Discharge
The first student loan forgiveness program (The Closed program) is operational under the federal government’s long-standing intervention in the case of students from colleges that were closed down due to one reason or the other. Therefore, if your college closed down before you get the chance to finish your education, you may be eligible for this discharge program. Under this program, you must have left the school no more than 120 days before its closure, or you were still a student at the art institute before its close down.These are the two general eligibility criteria for students under this program. Former students can obtain the art institute loan forgiveness under these provisions.
Who Is Eligible?
There is a lot of information online about the Closed Program. Students can, at times feel overwhelmed with an avalanche of information. Hence, we have simplified the information so you know what to look out for and determine if you can benefit from the art institute loan forgiveness program. To make the best of this information, please take your time to review it before carefully applying for the program.As explained earlier, students get loans that they took during your study at The Art Institute written off if you meet two essential criteria.