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Statute of Limitations And Lawsuit

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  • 05-22-2008, 08:31 PM
    Xanadu
    Statute of Limitations And Lawsuit
    My question involves collection proceedings in the State of: Alabama

    The collection agency in question is located in South Carolina. The loan took place in Alabama. I have reviewed SOL's for both Alabama and SC and it appears the SOL, no matter the classification, has run out.

    A family member received a voice mail with a message that they were attempting to contact me. Not really sure the connection there, as I have never used him as a reference and moved out of my parents home when he was still a minor. This debt is 15 years old. Furthermore, the school where the loan originated had my address wrong in as many years, therefore I have never heard a word about this debt until this week. I had other federal student loan debts from another school which were offset through my federal refund and any remaining loans are being taken out of Social Security benefits. I am now working with that agency to file a "Total, permanent disability" to have it forgiven.

    I only have one asset, a home which my name appears jointly on a deed.

    Assuming the SOL has run out and this was not a federally secured loan, what is the likely scenario? I certainly do not want to lose a home over a tuition fee that amounts to less than 2,000 dollars. Do courts normally throw out these cases when considering the SOL?

    I have a family member insisting that filing a quit claim deed to the property is the best option. Is this really the best thing to do? She also insists that a judgment could be filed without my knowledge and a lien placed on the property.

    I would appreciate help from anyone who could get her and the creditor off my back... and I promise to keep my financial woes to myself from now on.
  • 05-23-2008, 10:04 AM
    aaron
    Re: Statute of Limitations And Lawsuit
    Was this a federally guaranteed student loan?
  • 05-23-2008, 11:53 AM
    Xanadu
    Re: Statute of Limitations And Lawsuit
    No, I did fill out the financial aide forms and the advisor sent them back to me stating it contained errors. I guess I threw myself into studying for classes and such, I returned the forms too late and missed the deadline for the aide. I moved out of state briefly before the term ended and came back within six months but to a different address than I had when I enrolled. I guess this was where the address confusion came from, but upon talking to the loan advisor yesterday, she had an address for a city that I have never lived.

    The collection firm is trying very hard to get me to make a payment in order to "secure payment arrangements." I read on their website that they have "teams specially trained in attempting to reinstate statute of limitations, either by written agreements or the form of making a payment." I assume they know full well that the statute has run and this is their last resort. I actually feel bad about not paying this bill, but now that I am disabled and am on limited income, I cannot predict that my financial future can keep up with their payment demands. Therefore, if I do anything to reinstate the statute of limitations and fall on hard times, the home in which I am named on the deed would become an issue.

    Should I just go ahead and send the cease and desist letter? Thanks for you help!

    I called the collection agency for the last time to confirm whether or not this was a federally guaranteed loan. She confirmed it is NOT. I requested a break-down of the fees since I have never received any correspondence concerning the debt. Should I proceed with a cease and desist letter upon receiving their break-down or should I send it out right away? Thanks again.
  • 05-23-2008, 12:14 PM
    Mr. Knowitall
    Re: Statute of Limitations And Lawsuit
    Take a look at the sample letter in this thread.
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