Results 1 to 4 of 4
  1. #1
    Join Date
    Jan 2011

    Default Statute of Limitations and Sallie Mae

    I have been doing some research and I understand that you can’t walk away from federal loans. But there is a SOL on private loans. I have around 75,000 in private student loans that have gone past SOL for my state (They are Sallie Mae). The problem is that Sallie Mae also has control of my federally consolidated loan. This shows on my credit report as UNITED STUDENT AID FUNDS. The woman at “national student loan data systems” explained that the company that has my loan is owned by Sallie Mae, In order to make payments on that I would need to call Sallie mae. So I now understand that I have about 25,000 in federal loans. I want to pay my federal loans but I’m afraid that if I call Sallie Mae that they might show a payment attempt and then restart the SOL on my private loans.

    What is the best way to cover myself? I have the loan numbers and all the information about the federal student loans.

    Also I noticed my federal student loan shows 22,000 then it shows a new balance of 38,000. What fees might sallie mae be adding to that?

  2. #2
    Join Date
    Sep 2005
    Behind a Desk

    Default Re: Statute of Limitations and Sallie Mae

    We can't look at your bill or accounting to figure out your present balance. The most common things that increase a balance are interest, late fees, penalties, and (as permitted by law or contract) legal or collection fees.

    If the private loans are federally backed, and Sallie Mae loans usually are, then the state statute of limitations is preempted. Were your private loans federally guaranteed?

  3. #3
    Join Date
    Jan 2011

    Default Re: Statute of Limitations and Sallie Mae

    There is only one that is federally guaranteed. The rest are all private.

  4. #4
    Join Date
    Mar 2011

    Default Re: Statute of Limitations and Sallie Mae

    I'm a paralegal, and sometimes I have to file a pro se lawsuit. This is my son's student loan, so he'll have to represent himself, and it's good experience. He was a victim of student loan fraud, and we got all the documents to prove the case. Federal investigators were here, and they're dragging their feet. I'm just going to file pro se in Federal Court and end this right now.

    My son wants to take out another student loan to finish college, and was turned down because this old fraudulent loan is still out there.

    So does anybody know if there is a statute of limitations when you are refused a student loan because of a student loan fraud on the part of the school?

    It's an Estoppel issue, just not sure where. Ideas?

    1. Sponsored Links

Similar Threads

  1. Collection Lawsuits: Statute of Limitations for Debt, Non-Community Property State, No Borrowing Statute
    By msnerd in forum Debts and Collections
    Replies: 2
    Last Post: 09-05-2010, 08:32 PM
  2. Student Loans: Statute of Limitations on Sallie Mae Private Student Loans
    By wasteoftime in forum Debts and Collections
    Replies: 14
    Last Post: 06-24-2010, 06:29 AM
  3. Property Division: Statute of Limitations
    By callmerae in forum Divorce, Annulment and Separation
    Replies: 1
    Last Post: 11-29-2008, 08:17 AM
  4. Child Abuse: Statute of Limitations for Child Abuse
    By forresearch in forum Abuse and Neglect
    Replies: 1
    Last Post: 11-24-2008, 02:54 PM
  5. Collection Lawsuits: Statute of Limitations
    By Train46 in forum Debts and Collections
    Replies: 3
    Last Post: 11-17-2008, 10:26 AM
Sponsored Links

Legal Help, Information and Resources

Forum Sponsor
Stop Collection Abuse
Fight back against abusive debt collectors. Easy to use letters and forms.