If Igot a student loan and then was incarcerated, can I get the 7% interest rate dropped due my incarceration status?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
If Igot a student loan and then was incarcerated, can I get the 7% interest rate dropped due my incarceration status?
I took out a student loan $2,500 in 1978; incarcerated 1979 until 2009. Was under the impression that father had paid this loan and was never notified nor was the bill forwarded to me. Found bill notice going through dead fathers estate 12/3/10. I called the Bureau of Student Financial Assistants, Washington DC on 1/10/11 and explained situation with no results. I owe $8,091.28. Besides not knowing I needed to follow through with this, I had no access to data or financial means to pay.
Asked on January 12, 2011 under Bankruptcy Law, Indiana
Answers:
MD, Member, California Bar / FreeAdvice Contributing Attorney
Answered 13 years ago | Contributor
You need to file a complaint with the state agency in your state that handles educational loan complaints. The fact this was a 1978 loan and nothing was done to send this to collections, sue you or find you is disconcerting. You may not be held liable to pay this back if you can show the educational loan institution had the ability to locate you or had the ability to sue and did not. The statute of limitations has probably run on this matter and considering the entity may no attempt to locate you should be a material issue to review in your complaint. Unless you were a minor when incarcerated, this is not your father's problem and that issue is not helpful to your case. On the flip side (playing devil's advocate), you could have resolved this matter through bringing it up to family who visited you, by contacting your father or even bringing up to your counsel of record to help locate someone with whom you could have spoken. Like I said, the statute of limitations may have run to now enforce this loan. Your other option is to file a complaint through the credit bureaus (review your report through the three agencies) to whom this loan was reported and fight it by mail.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.