ThickBurger

Have a question on a loan with a promissory note. Promissory note was executed in FL and the borrower lives in FL entire time. In the promissory note it is stated that "OH Law will govern this agreement" FL SOL on promissory note is 5 years. OH is 15 years. That's a huge difference. Which one applies?

On a KeyBank Alternative Private Loan - How can find out what the guarantor agency is? Is it possible that it does not have a guarantor? If it does, is it non-profit? I'm looking at a promissory not in front of me, and I see nothing about a guarantor agency or insurance or anything like that. Everything on there is between "KeyBank" US NA and the borrower/cosigner. Moreover, loan has been in default for 5+ years. Last payment was in ‘05 but account was “charged off/transferred” in ’06. In my state the SOL on a promissory note is 5 years. Does this loan apply to this SOL?

What stops SOL clock in FL? Being Sued or Being Served?

Hello. I’m in a pickle due to my own ignorance. I know I screwed up. It’s time to fix this. I’m ready, with your help. I have $72k currently outstanding in Private Student Loans. Defaulted in 2006. My mom is a co-signer. OC: Key Bank (Key Alternative Loan) CA: Sentry I can’t seem to find anything on whether or not this Loan is backed by the government. My mom is a co-signer, so her Credit went down hill as well. I’m at the point where I can make monthly payments on this. Is Rehab an option? Should I talk with the CA on the phone or only in writing? Mom talked with CA, they offered to settle for $40k, in one lump sum. I don’t have access to that kind of money. Since they offered a settlement, could this loan be discharged in BK? Original loan amount is $65k. I have never spoken/written to this CA about this. Any advice on how to proceed? I don’t have any assets, Have a car but still owe $2k on it. Mom owns a house, which is has about the same owed on it as what it’s worth. In addition there is a third party on the title due to a divorce she went through. Also a car, she owes about $3k. Any one have any success with these Loans from Key Bank? Looks like SOL (In FL) is 5 years on loans with a promissory note, which this was. Does SOL even apply to this “Private student loan.� TIA! ThickBurger

Hello. I’m in a pickle due to my own ignorance. I know I screwed up. It’s time to fix this. I’m ready, with your help. I have $72k currently outstanding in Private Student Loans. Defaulted in 2006. My mom is a co-signer. OC: Key Bank (Key Alternative Loan) CA: Sentry I can’t seem to find anything on whether or not this Loan is backed by the government. My mom is a co-signer, so her Credit went down hill as well. I’m at the point where I can make monthly payments on this. Is Rehab an option? Should I talk with the CA on the phone or only in writing? Mom talked with CA, they offered to settle for $40k, in one lump sum. I don’t have access to that kind of money. Since they offered a settlement, could this loan be discharged in BK? Original loan amount is $65k. I have never spoken/written to this CA about this. Any advice on how to proceed? I don’t have any assets, Have a car but still owe $2k on it. Mom owns a house, which is has about the same owed on it as what it’s worth. In addition there is a third party on the title due to a divorce she went through. Also a car, she owes about $3k. Any one have any success with these Loans from Key Bank? Looks like SOL (In FL) is 5 years on loans with a promissory note, which this was. Does SOL even apply to this “Private student loan.� TIA! ThickBurger