very old college debt trying to collect
if you have a moment would you please advise me on my situation:
i was in a college from 1996 to 2000 on a student visa (then a foreign national). the university provided me with about 3500$ financial aid which i was not able to repay then,( i signed a promissory note only on that amount but then i did not even have a social security account). i then dropped out of school got a job and moved on. in the mean time I had become a us citizen, built good credit, and am about to attend med school, my loans are coming from the federal government for the school. Last time a collection agency tried to collect this college debt was in 2000/2001. today i received a letter from a collection agency in California. It was titled SECOND NOTICE and is asking to collect 38000 dollars in the name of the debt for this college.
What can I do? I opened the letter so I can't send it back. Should I reseal it and send back as undeliverable?
During all these years this college debt never came up listed on any of my credit files although inquiries from agencies who tried to collect this debt did show ocassionally over the years on my Experian. I am so very,very concerned about this and worried it might effect my school loans for medical school. please help
Was this a federal loan? There is no SOL on student loans, sorr
Was this a federal loan? There is no SOL on student loans, sorry to say. I'm assuming that you've not heard from them because you didn't have a ss# and they didn't have an address for you. You need to get this taken care of. Have you tried contacting the CA to get more information?
If this was for a public school, there is no SOL...it would be d
If this was for a public school, there is no SOL...it would be deemed state debt. Same would apply to a non profit school. I am assuming that this was an instutional loan....you are aware that you not paying your loan means that someone else will not get the funds.
It could come back to haunt you if they decide to file suit against you.
I
no, it was at a private for profit university and it was between
no, it was at a private for profit university and it was between 1996 and 1999 or so. why is it coming back now? it was not a regular loan. I was deep into the semester without my tuition paid so they gave me fin aid with that amount....what can i do now? also, the ONLY promissory note i EVER signed was for about 3 thousand, not almost 40 which they claim now:(
What school was it? Your transcripts would now be frozen due to
What school was it? Your transcripts would now be frozen due to the balance.
Your loan would be subject to interest, late fees and collection costs.With it being an institution loan, your interest could have been around 18%. Collection fees can run up to 50%, which you agreed to in the prom note. It can add up.....
it was a big private university.does the name matter? what can i
it was a big private university.does the name matter?
what can i do about it? i don't have 4o thousand to give them (and have tax return showing i never had it). how come it does not show up on any of my credit files ever?
what about it being too old to collect. I thin the prom. note was signed in 1997 (for those about 3500 only). what should i do now? contact the CA?
It's never "too old to collect." Past statute of limitations jus
It's never "too old to collect." Past statute of limitations just means you can't be sued. They can still try to collect on it.
I do believe, however, that private student loans are included in the statute of limitations. The school can hold your transcripts, so, they've kind of got you there but I don't think they can sue you for payment. It's kind of a catch 22.
hi, thx for helping me, i really appreciate it. my concern is wh
hi, thx for helping me, i really appreciate it.
my concern is what I should do now, if anything. i do not need the transcripts from that school any more or ever. should i just ignore the letter? send it back?how do i check if private college loans are included in the SOL? can they interefere with my federal loans which i am now getting for graduate school? this debt NEVER appeared on any of my credit files. maybe this is because i had no credit until 2000. and the address this letter reached me is in a transitory address which I will be at for a month only. I have no idea how they got my address here....
any advice and direction is much appreciated. thank you.
anyone knows if student loans from a private college are include
anyone knows if student loans from a private college are included in the SOL? i can't find any real info... please help if you have a moment, appreciated!
it is a big, private university in Massachusetts. does the name
it is a big, private university in Massachusetts. does the name matter here?thanks
When you applied to medical school, did you disclose you had att
When you applied to medical school, did you disclose you had attended this school? I think even the FAFSA requires you list all schools you have attended.
I wouldnt be asking the name of the school if it did not matter.