My question involves collection proceedings in the State of: Indiana
My daughter received a complaint (letter was tied to a tree on my daughters front yard) to respond to "Plaintiff's" (NCSLT) to promissory note of $9000 taken out with Charter One Bank on 8/2003. NCSLT now holds the note. During my daughter's five years in school, she took out many federal and private student loans. Looking at her credit report, loans have changed hands several times (but federal and private). Although she is current on federal loans, private loan were not current and we are not confident if or any payments have been made on those. It possible one or two payments may have been made along the way as a result of a collection call, but difficult to recall since over 5 years ago. Digging thru our records, we found an offer to settle for $6000 when the loan was in possession of another collection company. NCSLT wants full payment and interest.
My question regarding the private loan in responding to the complaint letter. On the note disclosure statement, payments are broken into two payment structures; one beginning 10/2003 and the second on 7/2007. My daughter doesn't recall making any payments at any time (was a waitress after college). Although her credit report shows a transaction in 2009, it might be possible that this was a "transfer" of collection agencies, not a payment on my daughters.
We know we need to respond in writing to the court within 20 days (even though document was tied to tree that included a copy of the promissory loan document) asking for verification of exact amount of debt, if payments have been made, how applied (since two payments are listed on agreement). My thinking is depending on verification of payments made and when, is the loan beyond the Statue of Limitations?
Another note although no fraud was intended at that time (my daughter had just turned 18 by two weeks), I signed her name on that document at the time because she was not available. I was at my mother's house and my mother (deceased now) signed as co-signer. We needed to get this faxed ASAP. If this is acknowledged in court, wouldn't I subject myself to fraud?
Whats are best options to proceed?

