Is this possible?
2006-09-12 03:16:06 · 7 answers · asked by phaser8 1 in Business & Finance ➔ Personal Finance
The original loaner probably sold your account to a collection agency and I have heard that they never give up on student loans,but 25 years! Even armed robbery has a shorter statute of limitations...wouldn't you think they'd consider an outstanding loan less dangerous?
2006-09-12 03:22:07 · answer #1 · answered by jidwg 6 · 1⤊ 0⤋
This sounds like a government backed student loan. If this is the case, then yes I believe they can do this. The federal government has taken a more aggressive approach to collecting on defaulted student loans, including using outside collectors.
If this is not a government backed student loan, then the following article may help:
2006-09-12 03:41:01 · answer #2 · answered by Anonymous · 0⤊ 0⤋
It should've fallen off your credit after being in default status for 7 years (7 years right?). If I was you, I would do a credit check, to see if this is still an issue. If it isn't, I'd tell the obscure firm to piss off and stop harassing you.
If it is on your credit, then it's kind of up to you.
2006-09-12 03:23:51 · answer #3 · answered by audemars 3 · 0⤊ 0⤋
Do you have a student loan? Could be that it was turned over or sold to another company. Check it out.
2006-09-12 03:25:36 · answer #4 · answered by blueyes2001 4 · 0⤊ 0⤋
Possible and probable. Hopefully you can find your own paperwork on the loan and make sure it's legit.
2006-09-12 03:23:18 · answer #5 · answered by parsonsel 6 · 0⤊ 0⤋
i would look into it and maybe seek legal advice, call a lawyer and get some free advice or look online to chat with one
they are probably hurting your credit scores so I would take care of the matter one way or another
2006-09-12 03:24:14 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Yes. I would need to know a little more to tell you what options you have, such as was it issued by the government or someone else?
2006-09-12 03:23:03 · answer #7 · answered by NETTA M 3 · 0⤊ 0⤋