My question involves collection proceedings in the State of: California
I obtained a private student loan ~ 8 yrs ago, went to National Collegiate Trust/AES [I am supuer confused, is AES and NCT the same thing?] from the original Lender and then to "A" C.A. I was doing monthly payments to this C.A., then suddenly they dissapeared, then a new C.A. "Law Offices of Patenaude & Felix" in California bought this loan. Now, they are suing me.
I talked to them yesterday and they told me that I have different options for them to put the lawsuit aside, one is to get myself on a payment plan and one is to do a settlement. I have 30 days to do this since I received this lawsuit papers 4 days ago. The amount is for ~$12-000-13000
I am very confused on what to do here. Do such Private Student Loans have a Statue of Limitations?
Should I contact National Collegiate Trust/AES and see if they can work with me now that I have a job and work on a payment plan/settlement? Should I work a payment plan with the new C.A. or do a settlement?
How much should I offer them? Is there a document I can read on settlement stuff?
I dont want this sue to go on, so I want to do something in the next week. As I said, I am pretty clueless on which option to take here. What would you guys recommend?
Thanks in advance,