20+Yr Old Student Loan Can U Help?

[debtfreeplease]

I have a 20+yr student loan that is in the court system,(NYC/judgment)orignal loan was about 2500.00 , i have made sporatic payments totaling approx $4000.00

I am currently not paying on this,but the attorney generals office still

sends me letters every couple of months still looking for money,and still

threatening me, bad enough they take my tax refund every year I file.i haven't seen a tax refund in many years due to the student loan.I did try to settle with

them yrs ago ,to just pay 2500.00 even though i paid a lot already,they turn me down,(attorney general office)Does anyone know how i can fix this once in for all.The school i was with at the time cheated me,i was 17yrs old at the time(im now 43)can some one help me with this.I'm thinking that i shouldn't have to pay

anymore money because of the age of the loan,and amount that has been paid already.

 

Thanks

[Cosmos Human]

Sounds like you did your best to work with them. Can't you just increase your deductions on your withholding and you would npt get a refund or owe a little bit?

 

I am not giving legal advice here...not a lawyer...but if it was me....

[LynnInMN]

I have a 20+yr student loan that is in the court system,(NYC/judgment)orignal loan was about 2500.00 , i have made sporatic payments totaling approx $4000.00

I am currently not paying on this,but the attorney generals office still

sends me letters every couple of months still looking for money,and still

threatening me, bad enough they take my tax refund every year I file.i haven't seen a tax refund in many years due to the student loan.I did try to settle with

them yrs ago ,to just pay 2500.00 even though i paid a lot already,they turn me down,(attorney general office)Does anyone know how i can fix this once in for all.The school i was with at the time cheated me,i was 17yrs old at the time(im now 43)can some one help me with this.I'm thinking that i shouldn't have to pay

anymore money because of the age of the loan,and amount that has been paid already.

 

Thanks

<{POST_SNAPBACK}>

 

Age cannot be used as defense for student loans.

 

How did the school cheat you? If this is the case you would have to sue the school. This is no different than taking a loan out for a car. If the car ends up being a dud, you cant hold the bank responsible. You would have to sue the dealership of the manufacturer.

 

If this is a judgement account, you will have to pay it. Age of the loan doesnt matter...their is no statutue of limitations. Your loan may originally started out at $2500 but you have 20 years of interest plus collection costs and legal fees. By my calculations that would come to over $12,000! They will not be content in just taking your taxes...with a judgement in place they can garnish your bank accounts and not to mention garnish your wages. With a judgement in place, I do believe they can go higher than the standard 15%. My suggestion is, start working with these people, not against them. They will collect the balance.

[RedRockClimber]

I would think that if you were 17, that you cannot legally be held to a contract... you were not an adult. But it may be too late to use that as a defense, as it has become a judgement. i agree with unhappymom... donm't give them anything to take. But I'm not a lawyer, either.

[LynnInMN]

I would think that if you were 17, that you cannot legally be held to a contract... you were not an adult.  But it may be too late to use that as a defense, as it has become a judgement.  i agree with unhappymom... donm't give them anything to take.  But I'm not a lawyer, either. 

<{POST_SNAPBACK}>

 

 

As I said before, age cannot be used as a defense for student loans...the following is from the DOE site.

 

 

Defense of Infancy

 

Student loans cannot be avoided on the basis of a borrower's age. Section 484A( of the Higher Education Act of 1965, 20 U.S.C. § 1091a(, bars this claim for Federally-reinsured loans, and State law typically does so as well.

[MamaLou]

I have a 20+yr student loan that is in the court system,(NYC/judgment)orignal loan was about 2500.00 , i have made sporatic payments totaling approx $4000.00

I am currently not paying on this,but the attorney generals office still

sends me letters every couple of months still looking for money,and still

threatening me, bad enough they take my tax refund every year I file.i haven't seen a tax refund in many years due to the student loan.I did try to settle with

them yrs ago ,to just pay 2500.00 even though i paid a lot already,they turn me down,(attorney general office)Does anyone know how i can fix this once in for all.The school i was with at the time cheated me,i was 17yrs old at the time(im now 43)can some one help me with this.I'm thinking that i shouldn't have to pay

anymore money because of the age of the loan,and amount that has been paid already.

 

Thanks

<{POST_SNAPBACK}>

 

I was kind of in your boat... Few loans, made a couple lump sum payments but the balance simply wouldn't go down...

 

I finally called the DOE Ombudsmen's Office. It took them a couple weeks to get back to me but they finally did. For some reason, this office is a big secret.

 

http://www.ombudsman.ed.gov/

1-877-557-2575

 

They agreed some interest should be removed. They also offered me a "settlement" offer where you have 90 days to pay the amount due (which has some interest removed.) and it's done. I saved $1500 in interest doing this. Some they removed because they felt the interest was excessive and some due to the payoff. I was in the lucky/unfortunate position that my mother died and I was left some money. But, you can still set up a reasonable payment plan and that goes a long way towards them being off you back... I was in tears by the time I called them, so tired was I of the crap the people at the various offices put you thru. Some of these studen loan collection officers are major _______ (fill in the blank) and I couldn't get anyone to have a civil conversation with me.

 

CAll the DOE Ombudsmen's Office. They can really help...

 

Also, before I had paid them, they sent me to collections accidentally. I called them to have it removed from my bureau (the CA, not the DOE) and someone goofed and removed the DOE also (and they were removed BEFORE I paid them off)

[TxQuiltGirl]

Around here, the ombudsman's office isn't a big secret, it's our secret weapon!

[LynnInMN]

The Ombudsmans office really should only be used when you have tried to make a valid attempt to pay your loan volunarily. Also since the OP states it is a judgement account, the Ombudsman wont get involved since it is a court matter now.

[mickfoely]

I have a problem. Anyone know if the Ombudsman can help get me a custom mortgage letter, and faster than 14-20 days?

[MamaLou]

The Ombudsmans office really should only be used when you have tried to make a valid attempt to pay your loan volunarily. Also since the OP states it is a judgement account, the Ombudsman wont get involved since it is a court matter now.

<{POST_SNAPBACK}>

 

Uh, mine was a judgement account/amount... Not only did they get involved, they helped me get it taken care of.