What to do if I owe student loan from long ago?

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What to do if I owe student loan from long ago?

I have not been able to work for 5 years. I am able to squeak by on $470 a month social security because I built my own no-loan home. I got a letter from a collection agency and was astonished how much interest and fees were tacked on. Can they take my home or attach it?

Asked on January 16, 2013 under Bankruptcy Law, Washington

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

If you have not made any payments on the outstanding loan that you have written about for more than four (4) years there is a good chance that if there is no lawsuit filed yet that the claim for repayment may be barred by your state's statute of limitations on the matter.

As such, I suggest that you consult with a family law attorney to see what your legal options are on your matter.


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