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SOL private loans(non-profit backed) vs gov't backed


quepasoksl
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Ok, so there is no SOL for a gov't backed student loan. BUT, how about loans that are funded in whole or in part by a non-profit institution?? As per the bankruptcy laws, these aren't dischargeable, but what about the SOL for collecting?? It would be a promissory loan or written contract so depending on the state you are in would there be a SOL for collecting???

Anyone know for sure? Or how to find out? Thanks in advance.

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Ok, so there is no SOL for a gov't backed student loan. BUT, how about loans that are funded in whole or in part by a non-profit institution?? As per the bankruptcy laws, these aren't dischargeable, but what about the SOL for collecting?? It would be a promissory loan or written contract so depending on the state you are in would there be a SOL for collecting???

Anyone know for sure? Or how to find out? Thanks in advance.

My understanding is that there is no SOL....if the school is tied to a school they can hold the transcripts until paid. I know we had one student who borrowed in the early 60's and still had to pay to get his transcripts in 2000.

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Ok, so there is no SOL for a gov't backed student loan. BUT, how about loans that are funded in whole or in part by a non-profit institution?? As per the bankruptcy laws, these aren't dischargeable, but what about the SOL for collecting?? It would be a promissory loan or written contract so depending on the state you are in would there be a SOL for collecting???

Anyone know for sure? Or how to find out? Thanks in advance.

My understanding is that there is no SOL....if the school is tied to a school they can hold the transcripts until paid. I know we had one student who borrowed in the early 60's and still had to pay to get his transcripts in 2000.

The loan has nothing to do with the school. It was obtained thru Consern which is now part of Wells Fargo( do not believe it was always Wells Fargo, but can't find anything showing differently even though I think I would have remember refererence to Wells Fargo even from way back when). I've read the fine print of the contract and in referencing the possibility of bankruptcy is states it is funded 'in whole or in part by a non-profit institution therefore it is not dischargeable in bankruptcy proceedings'. So my question is still, is there a statue of limitations on a loan that is backed by a not for profit institution??

Thanks

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