trw Posted March 20, 2013 Report Share Posted March 20, 2013 I am being sued in California for two private student loans that I defaulted on. Loans were originally done through Bank of America in 2004 and 2005 and sold to National Collegiate Trust. Through lifes up and downs I was unable to finish school and never made a payment on the loans. My credit report shows I defaulted on the loans in 4/09. Since a payment was never made would that mean the SOL falls back to 2004 and 2005? When I lose my cases and the Plaintiff receives a judgement against me can I file bankruptcy? Would the money owed still be considered non dischargeable because it originated from private student loans? In a bank account garnishment, can the creditor take funds out of my account more than once? Or do they only have one shot at whats in the account at that time? Link to comment Share on other sites More sharing options...
1stStep Posted March 20, 2013 Report Share Posted March 20, 2013 Your default would have occured sometime in 2009 - when you quit paying on the loan... in that case, they are within statute. File an answer and demand a bill of particulars - my guess is NCT is a debt buyer and may not be able to prove standing to sue... which means if you outmaneuver them in court, you will win. Link to comment Share on other sites More sharing options...
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