Can a Private Student Loan Lender Still Collect After Ten Years? – Brad

I recently received a phone call from my ex wife stating we owe $14K on a private student loan that was taken out over 10 years ago for me to go to school. The loan was not paid and now we are in danger of being sued by the company that bought the loan.

Does the statute of limitations apply in my case since the loan is over 10 years old and the current company bought the loan back in 2005? I live in Arizona and my research has told me that the statute of limitations in AZ is 6 years. Can you help me with this question?


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14 thoughts on “Can a Private Student Loan Lender Still Collect After Ten Years? – Brad”

  1. This gets completely confusing. Some answers it say SOL on private student loans is in effect and other answers say there is no SOL on a private student loan. Can we get a proper answer about SOL??

  2. Hi Brad,

    I believe there is no statute of limitations for student loans. Unfortunately, you will need to pay the debt. Good luck to you!

  3. Most studen loan companies will work with you to set up a payment plan. I know ours did when times get tough. Good Luck.

  4. Hmmm…. two red flags:
    It sound like you do have a private student loan. Everything I’ve read so far states that PRIVATE student loans have a statute of limitations. Government Student Loans do not and they will own you forever. Look into that…

    Also, why is your ex-wife calling you? Is she just trying to hit you up for money?

  5. Hello I am so sorry you got this hit out of left field….I hope these folks allow you to work with them and set up a doable repayment plan Good Luck to you I wish you a speedy recovery!

  6. Brad,

    There is no statute of limitations on student loan debt. Federal law grants it special status and it never expires (until death) and normally cannot be erased in bankruptcy.

    I would suggest you work with the lender to set up a payment schedule. You may try to eliminate some interest and penalties through negotiations but you should expect to pay back the entire student loan.



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