31 year-old Federal Student Loan Collection letter
31 years ago in California I recieved a Federal Student Loan in the amount of $2,500.00. I was a hippy/artist, then married, then single mom on assitance after becoming disabled..several legal name changes and 31 years later I recieve a demand for payment from a GC Services Colection Agency for the amount of $13,629.42!!!! I have managed in the last several years to buy a home and have great credit, although I am self-employed.
What can this GCServices Limited actual do to me? I have no idea how they could have located my address or phone number, as neither my first or last name are the same as they were 31 years ago.
From what I have been able to discover on-line, Federal Student Loans have NO SOL for collections or reporting...HELP!
Some advice would be greatly appreciated...soon. I am considering simply denying that I am she.
Thank you,
Ms. How-can-this-be?
Re: 31 year-old Federal Student Loan Collection letter
Quote:
Quoting Ms. How-can-this-be?
What can this GCServices Limited actual do to me?
They can sue you and then try collecting the judgment.
Re: 31 year-old Federal Student Loan Collection letter
Is there any agency that I can deal with that would allow me to reduce the amount to something closer to the original amount, since I have never recieved any other demand letter?
Re: 31 year-old Federal Student Loan Collection letter
Quote:
Quoting
Ms. How-can-this-be?
Is there any agency that I can deal with that would allow me to reduce the amount to something closer to the original amount, since I have never recieved any other demand letter?
No. You are responsible for paying the bill. They shouldn't HAVE to search all over for you, in order to get you to pay it. The paperwork that you signed, in order to get the loan, allows them to charge interest until the loan is paid.