Statute of Limitations on Sallie Mae Private Student Loans

[Mr. Knowitall]

If the statute of limitations is federally preempted, state laws and borrowing statutes are irrelevant to the enforcement of the loan outside of the state statute of limitations.

[DuvalJim]

If the statute of limitations is federally preempted, state laws and borrowing statutes are irrelevant to the enforcement of the loan outside of the state statute of limitations.

That's true if the particular private loan is federally guaranteed. With Sallie Mae loans, that is usually the case but I don't know what kind of program this loan originated within.

With Wells Fargo and Chase private student loans, more specifically from the early 2000's, those do not carry any federal backing. Their direct-to-consumer loans that don't carry school certification also don't pass the sniff test as qualified education loans.

This all depends on if the OP has a federally-backed private loan or a non-backed loan.

[wasteoftime]

it is not federally backed. The Dept of Education has no record of the loan or anything in my name or SSN for that matter.

Again, does anyone know of or have recommendations for lawyers with experience with these cases in South Florida? Or is all I need to do is file a summary judgement against Sallie Mae?

[Rosalynn200]

Contact a Consumer Lawyer in Florida. If you need a referral, ask your local Bar Association or perhaps the National Consumer Law Center out of Boston. Here’s their non-legal advice on Private Student Loans.: http://www.studentloanborrowerassist...ions/lawsuits/

You mentioned a Summary Judgment, but you didn’t indicate that you were sued or if you were sued, that the promissory note was attached to the pleading which would indicate a potential “choice of law” issue. The SOL is a defense that the defendant must prove and you may not have the facts yet to prove your defense. You might want to go through discovery or the pleadings process to at least get the promissory note and proof that the person suing you is actually the holder of the note. Definitely consult with an attorney. A copy of the National Student Loan Data screen without your private loan on it would be good evidence for a SOL defense, but not necessarily enough to win on a summary judgment, so that’s why you need an attorney if you want to win. Also ask your attorney if you can amend your answer to include a FDCPA counter-suit if the collector had procedures in place that he/she knew the debt they were suing upon was time-barred. That might get you $1,000 and attorney’s fees.

[Iknowit sucks]

@wasteoftime
Have you sent a Request for Validation of Debt Letter? Have you heard of this before?