I’m Being Sued for Private Student Loans After the Staute of Limitations

“Dear Steve,

I has several private student loans taken out in 2004-2005. I am being sued by collection agency representing the lender. The ny statute limitations is 6 years. They allege I admitted the debt on phone. I recently received a letter from collection agency to call them so we can work on a payment agreement and not have to go to court. I can’t afford a lawyer, I have no job or assets. I was already summons.

Should I settle or dispute the statue of limitations expired.”

It really depends if you want to hire a lawyer to fight this or you feel you actually did admit the debt on the phone and that would have extended the statute of limitations.

You could always let them sue you and try to defend yourself in court if you can’t afford a lawyer. This is probably the least attractive option.

If you think you can afford a payment plan, give them a call. But since you have no job or assets I’m not sure what kind of payment you can promise or afford. Can you afford any?

Do you have any other debt besides this one?

Please post your responses and follow-up messages to me on this in the comments section below.


You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.

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Damon Day - Pro Debt Coach

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Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.
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