Thanks for all your work and info. I am trying to determine the SOL on my loans have defaulted with last payment date in 2010 but I believe got put into deferment then last activity reports in 2012. I am wondering if you have any new info on the SM Tuition Answer predatory loans in general and if the date of last payment reported on my credit bureau is my SOL start (2010) or if it’s the date of default (2012). If date of default is it month 1 (30 days) or at the point of 180 days where they assume harm though the real initial non payment was the first 30 days? Do you have any resources you can recommend to review regarding in depth info about determining the SOL start date?
The Statute of Limitations (SOL) is a tricky issue. Just because your loans might be outside the SOL does not mean you can’t be sued on the loans. It just means you could raise that as a defense. And even outside the SOL, collections can still take place.
I once thought this was straightforward and easy to calculate. I was wrong.
There are so many little events which can cause the SOL to start and stop that the only way to get a definitive answer would be for you to consult an attorney who is licensed in your state and have them review you specific debt.
The start date on the SOL would be the date you last made a payment, made a promise to pay, admitted the debt was yours, or entered a payment agreement.
But Tuition Answer loans have their own issues that might make them dischargeable in bankruptcy. Read this.