KEY BANK IS SETTLING

[ATA_victim]

Hey guys,


I was at ATA for only my private ground class which lasted about 2 weeks. I was actually the FIRST one to post the closing of ATA on this site!!!

I should be getting a phone call from Key Bank within the next week or to to start the negotiating after about 1 year of waiting ...Ill let people know whats up as soon as I do...

[Tim]

Good luck and I hope you get all you can get from them and the Williams family

[ATA_victim]

to be honest..I really dont care about the williams family I canre about Key Bank..I just dont wanna pay back 55,000 dollars!!! im about to turn 21 and a 55,000 dollar debt is not cool.

I remember when I met the williams family and they told me how lucky I was to join such a school!! ...bunch of cons!!!

[Tim]

I got suckered there also but got out about a year before the fall..

[hammer]

They may be talking about settlements but it isn't anything special ... from what I've heard (I was a student there) the max they are offering is about a 20% discount off the total loan. For those of you that lost $60,000+ and never got a minute of training, that isn't that appealing. The settlement discount goes down if you got your flight hours ... guys towards the end of their training may be offered a 1-4% discount. You also must sign a release saying you will never sue if you reach a settlement.

[ATA_victim]

who told you about the 20% discount???? because Key Bank just started to make phone calls last friday to settle...

[Phil2016]

There have been some private settlement talks prior to Key starting to make the phone calls (if that is indeed what they are doing). From those, the largest offer that allegedly came out (and I have no real proof of this other than word of mouth) was 20% discount.

As one of those who paid 100% and received about 3% of training (or whatever 3 weeks of instrument ground school is worth), paying 80% of my loan back isn't very appealing.

[ATA_victim]

damn.......