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hello,

if anyone could offer an advice please help:

in 1997 I was in college in MA and signed a promissory note for about 3000$. I was poor and not able to pay off that loan as I left the college after they did not offer full finananical aid. somehow over the years they calculated those 3000 to have reached 28000. I never signed any additional documents. They were never able to get in touch with me but the debt has been sold over and over again as I had to ask in writing several credit collectors to stop harassing me since the debt was over SOL. now i live in FL and a few months ago I received a phone call into my voice mail from yet another new debt collector. I ignored it. This week they sent a person who seems to be a process server to my door. He has been relentlessly knocking on my door and windows.I was in shower once and he came up to my window, I asked what was the issue and he said he is looking for a missing girl and if I could come out the door. I am not sure what to do. It has been almost 15 years since the original date of the promissory note to (a private) college. Should I open the door and take the papers or what can I do? I need an advice since I am in real distress. Thank you. I appreciate your help, anyone:) early Happy Thanksgiving!:)




if anyone could offer an advice please help:
Quote:

in 1997 I was in college in MA and signed a promissory note for about 3000$. I was poor and not able to pay off that loan as I left the college after they did not offer full finananical aid. somehow over the years they calculated those 3000 to have reached 28000. I never signed any additional documents.


Who was the lender? The school? A bank? Did you get federal aid?

Quote:


They were never able to get in touch with me but the debt has been sold over and over again as I had to ask in writing several credit collectors to stop harassing me since the debt was over SOL.


Educational debt for the most part has NO SOL....you havent given us enough information on the debt. Also, student loans are NOT sold over and over again...they are assigned.
Quote:
now i live in FL and a few months ago I received a phone call into my voice mail from yet another new debt collector. I ignored it. This week they sent a person who seems to be a process server to my door. He has been relentlessly knocking on my door and windows.I was in shower once and he came up to my window, I asked what was the issue and he said he is looking for a missing girl and if I could come out the door.


How do you know it was a process server?

Quote:
I am not sure what to do. It has been almost 15 years since the original date of the promissory note to (a private) college. Should I open the door and take the papers or what can I do? I need an advice since I am in real distress. Thank you. I appreciate your help, anyone:smile: early Happy Thanksgiving!:smile:


If you dont answer the door, they can serve you by mail in Florida.

Have you logged into your county court website to see if their is a case against you?? You need to do some research.

Sub: #1 posted on Sat, 11/17/2012 - 06:50

SOAPLADY SOAPLADY
Moderators Cum Industry Expert
(Posts: 17319 | Credits: )

sopalady, thank you for your help.

the school , Northeastern University, gave me a 3000 dollar loan on a promissory note. no bank was involved, no federal aid was involved.
what do you mean exactly by "Educational debt for the most part has NO SOL". under which conditions it does have SOL?

I tried but failed in getting a search done for a court case under my name? Would you have a minuted to advise how that is done?

thanks again!

Sub: #2 posted on Sat, 11/17/2012 - 16:40

Unregistered


Quote:
the school , Northeastern University, gave me a 3000 dollar loan on a promissory note. no bank was involved, no federal aid was involved.
what do you mean exactly by "Educational debt for the most part has NO SOL". under which conditions it does have SOL?
Your school was private but non profit....no SOL. Would have been a institutional loan. Private FOR profit schools have SOL's.
Quote:

I tried but failed in getting a search done for a court case under my name? Would you have a minuted to advise how that is done?
Did you go to your local county court website and do a records search??

thanks again!

Sub: #3 posted on Sat, 11/17/2012 - 20:32

SOAPLADY SOAPLADY
Moderators Cum Industry Expert
(Posts: 17319 | Credits: )

thanks. where should i be looking for my case file? in MA or in FL records? i was able to locate florida court cases records (nothing comes up) but can't locate the one for MA. would you know how ot find that?
also, now since it has been 15 years since the promisory note was signed what are my options? can who ever handles the debt take me to court legally? is the original creditor (the university) involved still considering that, as you stated, school loan debts are not sold but assigned? the original debt was less then 3000 but somehow grew to 28000 which is unrealistic and not possible for me to repay....
what is the best way to take from here? does it matter that i was a foreign national when this promissory note was signed? thanks again, help is much appreciated.

Sub: #4 posted on Sat, 11/17/2012 - 21:28

Unregistered


Quote:
thanks. where should i be looking for my case file? in MA or in FL records? i was able to locate florida court cases records (nothing comes up) but can't locate the one for MA. would you know how ot find that?
Have you looked in the county court records that you used to live in??
Quote:
also, now since it has been 15 years since the promisory note was signed what are my options? can who ever handles the debt take me to court legally? is the original creditor (the university) involved still considering that, as you stated, school loan debts are not sold but assigned? the original debt was less then 3000 but somehow grew to 28000 which is unrealistic and not possible for me to repay....
what is the best way to take from here? does it matter that i was a foreign national when this promissory note was signed? thanks again, help is much appreciated.
The university can hire a law firm to sue you.
You have 15 years of interest with more than likely capitalizes on itself PLUS big collection fees which you agreed to pay in the prom note. (This makes more sense...you were a foreign student and a lot of school do have instituational loans for foreign students) And no, being a foreign national means nothing. They were in touch with you and you ignored the debt...you brought this upon yourself.

Sub: #5 posted on Sun, 11/18/2012 - 18:55

SOAPLADY SOAPLADY
Moderators Cum Industry Expert
(Posts: 17319 | Credits: )

thank you. i appreciate your help, however, i find your remarks at the end unprofessional. you are not aware of the full details of my situation and since i came here for help it is only fair if you provide an objective opinion and no moral judgments. nevertheless, i really do appreciate your involvement. and would further appreciate if you could tell me what you think is the best way out of this or what you predict might happen in this situation considering you were in this profession of debt management and have objective insight. thanks again.

Sub: #6 posted on Mon, 11/19/2012 - 21:06

Unregistered


and case records for MA, Suffolk county, seem not to be available freely to public.would you know how to get to them?thanks

Sub: #7 posted on Mon, 11/19/2012 - 21:07

Unregistered



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