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Everyone-
We finally have a good bankruptcy bill to fight for. With only a month before the election, we need to give this bill our full attention for the next couple of days. Republicans in a House subcommittee are key for this. To that end: Will you please do this critically important action? Start a petition
The two largest groups (besides ours), in fact, are either business partners with the student debt collection industry, who’ve wanted to see a mass default on student loans with bankruptcy rights remaining gone for years, or they are using their group as “hunting grounds” for defaulted and distressed borrowers, who they make money from by selling them into loan rehabilitation, loan consolidation, or other processes (like the “Fresh Start” Program or SAVE Plan), even though they know that the outcomes of these programs for the very large majority of borrowers are horrible. Both of these groups have been tellingly silent on returning bankruptcy rights for many years, and viciously opposed it (both publicly, and behind the scenes) at critical times. They are not what they appear. They are what’s called “Astroturf”, despite all their pleasant sounding words. The LAST thing they want is to actually solve this problem. That would kill their whole deal. They have caused massive damage to you and your livelihood, and I cannot understate that. All their work is now coming to fruition as we plunge forward, defaults soar, bankruptcy rights remain gone, and the collection industry/Department of Education gets back to business as usual. We’ve tried to warn people about them- again and again- over the years, but word obviously didn’t get out enough, and they’ve persisted. I’ve hoped/trusted that their members would spot their corruption, and they would fall of their own weight. Some did, to be sure, but not most. Not enough. People need to wake up to these dark forces. I write this note because both of these groups are poised for massive growth as we go forward. They will surely see greatly increased influxes of funding, and inject even more distractive noise into the student loan space. We’ve never done, and will never do deals with the bad guys. The ONLY way we get the funding we need is through donations from normal people, as you well know. Our group has never been, and will never be corrupted. No matter what the cost, and it has been great to this point. FULL STOP. I hope that you recognize and appreciate the importance and value in this fact. If you care about actually getting your loans solved, integrity is really the only thing that matters. I TRULY HOPE you will stick with us through the dark days ahead and spread the word, both about us, and about the corrupted groups poised to dominate this landscape. We are it, and we all have a lot riding on it. God Speed, Alan
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