I received a bill from a student loan from 16 years ago that I thought I paid. Do I have to pay it?

Question

I do not keep financial records for 16 years. I have moved often and do not even know the bank I used to write a check to pay the bill. Is there a statute of limitations on bills?

Answer 1

There is a Statute of limitations for regular debts, this varies from 3-7 years depending on the state and type of debt.

However, Student Loans are treated a bit different because they are usually guaranteed by some government agency. Because of this I do not think there is a statute of limitations for them to try and collect.

Here is a link from the Department of Education that basically states that the Statute of Limitations is no longer a valid reason.
http://www.ed.gov/offices/OSFAP/DCS/faqs.html#SOL


It's tough after 16 years but you may still have to pay it if you can't provide proof that you already did. If you made any payments on the loan the agency may have the banking information and you may be able to then figure out the bank you used. However, even after 16 years that bank may not even be able to pull up any records. But this could also work into your favor as if you ask them to provide proof of the debt they may have as much trouble.

Answer 2

No there isn't a statute of limitations on bills but you may notice that this is 16 years old so it may be the result of a year 2000 glitch! I and my husband's hospital bill for my son born in 1999 went into collection twice! Of course the problem was that we had received no bill because he worked for the hospital and they usually "forgive" employee's their co-insurance on procedures such as births! We had to call up the original people--the hospital--and they contacted the collection agency and explained the mistake. Amazingly this happened twice. It never appeared on our credit report though.

So ask the collection agency exactly who they bought the bill from and then call them up to question it.

Answer 3

I'd make arrangements to pay it. In the old days, they wouldn't garnish wages for student loans but now they certainly will.

Answer 4

There a statute of limiations. Please see the link below for your state's limit.