Old Student Loan

by Dawn
(new york)

I have a student loan over 20 years old and the agency is now calling me and pressuring me to pay i want to know could they touch your bank account now.

Comments for Old Student Loan

Click here to add your own comments

Oct 22, 2010
old student loan debt
by: Gerri

Dawn,

Unlike other types of consumer loans, there is no statute of limitations for most student loans. In addition, these loans are very hard to discharge in bankruptcy.If your student loan is in default, you may be sued, your tax refund may be intercepted,or your wages could be garnished.

You may want to check out the National Consumer Law Center's student loan borrower assistance website for more information about your options for dealing with this loan:

www.StudentLoanBorrowerAssistance.org/

Please keep in mind debt collectors must still by the federal Fair Collection Practices Act one collecting student loan debt.


Mar 17, 2011
Old Student Loans
by: Anonymous

My friend just filed bankruptcy and his lawyer advised him to charge as much as possible of the student loan on credit cards, then file the bankruptcy on the credit cards. Perfectly legal.

Click here to add your own comments

Return to Debt Collection Questions.