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  1. #1
    Join Date
    Jun 2011
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    3

    Default Private Student Loan Statute of Limitations

    My question involves collection proceedings in the State of: Louisiana

    I took out a private student loan (not federally insured) with a variable interest rate in Louisiana. The law in Louisiana is that the SOL on an open debt is 3 years and that the SOL on a written contract is 10 years. Now, 5 and a 1/2 years after making my last payment, I am being summoned to court. Do I have an open debt or a written contract on my hands?

  2. #2

    Default Re: Private Student Loan Statute of Limitations

    My guess is you have a written contract. I don't see how this would classify as an "open account."

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