With a likelihood that the injury could be redressed by the court's decision.
The note is in default.
With the advent of the digital age, the use of electronic promissory notes present new obstacles in proving the existence of a signed promissory note. Nevertheless, electronic notes must be stored and able to be retrieved electronically. Lack of a signed promissory note, whether electronic or paper, could prove to be fatal to the defendant's case in a student loan suit.
The second required prong of the test to establish a prima facie case for recovery on a defaulted student loan is proving the plaintiff is the present holder of the note. If the promissory note has been sold or assigned to a new entity, only the assignee would have standing to sue on the defaulted note.
Finally, the plaintiff must prove the defendant has defaulted on the student loan in question in order to survive a motion for summary judgment and establish a prima facie case.
If you are being sued over a defaulted student loan you should explore your legal options immediately before taking any action. If you have any questions or comments, please feel free to contact us.