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What is the statute of limitations on having to pay a bank Back for a student loan?
Wiki User
∙ 16y ago
Most student loans have no statute of limitations, even if issued by a bank.
Wiki User
∙ 16y ago
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What happens when you dont pay your student loans and financial aid back on time?
Most loans have programs for deferral and for lowering your payments when you are unemployed or not making much money. So, the best idea is to call them and make arrangements when you need the help. However, at some point you will need to make serious plans for repayment. Look at your loan agreements. For regular loans, they can take you to court and you may end up having your pay garnished or otherwise diverted. For federal loans, there is no statute of limitations; you must pay them. Tax returns and credits can be accessed for payment. Both types of loans are reported on your credit report.
I have not paid on my home loan in 20 years. The lender has never sent any notice. Do I have to pay it back or is there a time limit on the lender requesting the money?
The answer depends on the following:Did you sign a mortgage? If so, was it recorded? If not, does the lender have a signed original?What is the statute of limitations for a mortgage in your state? In Massachusetts it is 35 years.If the lender has no proof of the loan then they may be out of luck. We need more details.If it was a private loan and you never made any payments you may have placed the lender in an uncomfortable position of not wanting to have to demand payment from you. They may be asking now because the statute of limitations is coming up. If that is the case, you must pay up.The answer depends on the following:Did you sign a mortgage? If so, was it recorded? If not, does the lender have a signed original?What is the statute of limitations for a mortgage in your state? In Massachusetts it is 35 years.If the lender has no proof of the loan then they may be out of luck. We need more details.If it was a private loan and you never made any payments you may have placed the lender in an uncomfortable position of not wanting to have to demand payment from you. They may be asking now because the statute of limitations is coming up. If that is the case, you must pay up.The answer depends on the following:Did you sign a mortgage? If so, was it recorded? If not, does the lender have a signed original?What is the statute of limitations for a mortgage in your state? In Massachusetts it is 35 years.If the lender has no proof of the loan then they may be out of luck. We need more details.If it was a private loan and you never made any payments you may have placed the lender in an uncomfortable position of not wanting to have to demand payment from you. They may be asking now because the statute of limitations is coming up. If that is the case, you must pay up.The answer depends on the following:Did you sign a mortgage? If so, was it recorded? If not, does the lender have a signed original?What is the statute of limitations for a mortgage in your state? In Massachusetts it is 35 years.If the lender has no proof of the loan then they may be out of luck. We need more details.If it was a private loan and you never made any payments you may have placed the lender in an uncomfortable position of not wanting to have to demand payment from you. They may be asking now because the statute of limitations is coming up. If that is the case, you must pay up.
Which advantages are offered by the Discover student card?
There are many different varieties of advantages that come as a result of having a Discover student card. These advantages include, but are not limited to, cash back on things one buys and a low interest rate.
Father died 11 years ago and will settled now solicitors say you owe them money as too much paiddo you have to pay it back?
You should speak with another disinterested attorney before you pay over any money. The statute of limitations during which the solicitors can bill you may have passed.
If you owed money on a student credit card but have now settled it will that affect your credit in the future?
You did not provide enough information for a specific answer to your question. In general: Settled debts show as (now) paid derogatory items. No creditor wants to take a loss after wanting longer than the original term of your loan to get their money back. So a derogatory loan that is settled for less than full balance is shown with that type of notation, and continues on your credit report until its' governing statute of limitations expires.
What is the statute of limitations on coming back and collecting money owed for a loan that the balance was zeroed out but money never taken out of a checking account electronically?
There is no statute of limitations on federal student loans under any circumstance.
What is the statute of limitations on a personal loan to a friend?
There is no STATUTE of limitations on any loan. You will always be responsible for paying it back. Statutes of limitations is only for laws.
What is the statute of limitations for collecting back rent in Massachusetts?
6 years
Is there a statute of limitations of misdominer violation of probation?
Violation of probation is not subject to a statute of limitations. Once a violation has taken place, they can be taken back to jail to finish their sentence.
What is the statute of limitations for failure to appear in Washington state?
The statute of limitations is the set amount of time an individual or state can press charges. In a civil case the statute of limitations for theft varies from 2-3 years depending on the circumstances.
If your parents gave you a large amount of money and now they are demanding it to be paid back what is the statute of limitations?
I am not a lawyer, but to my knowledge their is no statute of of limitation as it isn't a crime. Statute of limitations is a time period in which a person can be prosecuted of a crime. As this isn't a crime, there is no limitation.
How far back is statute of limitations on a deceased will?
Statutes of limitations are related to bringing law suits for civil or criminal charges. They do not apply to a will.
What is the statute of limitation for unemployment compensation fraud in Texas?
The statute of limitations restricts how far back the commission can go when collecting past due taxes and quarterly reports. Section 213.033(a) specifies that the commission cannot go back further than three years. An employer may voluntarily report and pay tax on quarters outside the statute of limitations, but they have no legal mandate to do so. When in contact with an employer, inform them of the statute of limitations if asked, but do not advise them to pay or not to pay for periods outside the statute.
Is there a statute of limitation if you left parole with 82 days left in GA?
There is no such thing as a statute of limitations related to violating parole. The reason for a statute of limitations is related to bringing a law suit. You can be arrested at any time for the rest of your life.
What is the statute of limitations on a guaranteed student loan from 1983?
Quoting from a footnote to the Fair Credit Reporting Act...(located in Subsection 605, regarding statute of limitations) "The reporting periords have been lengthened for certain adverse information pertaining to U.S. Government insured or guaranteed student loans, or pertaining to national direct student loans. See sections 430A(f) and 463(c)(3) of the Higher Education Act of 1965, 20 USC 1080a(f) and 20 USC 1087CC(c)(3), respectively." The FCRA does says that, in general, statute of limitations is 7 years or "until the governing statute of limitations has expired, WHICHEVER IS THE LONGER PERIOD." For federally guaranteed student loans, that governing statutue is much longer than the typical 7 years. There is no statute of limitations on old student loans but they can be discharged under a few circumstances - death, total and permanent disability, military service, teaching, and bankruptcy - ONLY if you can successfully prove that repayment of the debt would cause "undue hardship" as defined by case law in your jurisdiction AND the first payment of the loan was due over 7 years ago. See website: http://www.ed.gov/offices/OSFAP/DCS/loan.cancellation.discharge.html I found this information because I, too, have a loan from the 1980s. I have not worked since 1989 because I got fibromyalgia and PTSD. I am now getting SSI and they keep harassing me and my neighbors. The new bankruptcy laws (Fall 2005) may change this information.
Do you still have to pay child support arrears before 1985?
You need to look up your state statute. In Tennessee there is no statute of limitations on back child support for example.
You got arrested for speeding in Colorado 103 in 65 Do the points carry back to Wisconsin Statute of limitations on traffic violations can they come get me or just don't go back for a year?
The statute of limitations doesn't apply for any period in which you are not in their state, so to "not go back for a year" simply extends the limit for another year.
