How Long Does a Lender Have to Collect a Defaulted Student Loan
My question involves collection proceedings in the State of: I got a student loan in 1989 to go to truck driving school here it is 2014 and they are trying to collect from me can they do this i live in maryland
Re: How Long Does a Lender Have to Collect a Defaulted Student Loan
You're speaking of a federally guaranteed student loan?
Quote:
Quoting
brownj12
...if they cannot sue, and the account has been inactive long enough that it has fallen off your credit report, then while they can continue to call you or send letters they have little real ability to collect any money.
The key part of that statement is "if they cannot sue". If it's a guaranteed loan and not subject to a statute of limitations, they can sue. If it's not then, depending on the state and date of default, the statute of limitations may have run.