private student loan statute of limitations

[jameyone]

isnt there a statute of limitations on private student loans. Five years ago i filed bankruptcy and it just got released. So now Im getting Phone calls from Gatestone and co Saying that I/O them money for a private student loan I took out in 2011. They are a collection agency so I’m assuming the bank turned it over to them. They keep threatening my cosigner what are my options,I live in Lincoln Nebraska
please help
PS the amount of the loan was 5000

 

[quincy]

isnt there a statute of limitations on private student loans. Five years ago i filed bankruptcy and it just got released. So now Im getting Phone calls from Gatestone and co Saying that I/O them money for a private student loan I took out in 2011. They are a collection agency so I’m assuming the bank turned it over to them. They keep threatening my cosigner what are my options,I live in Lincoln Nebraska
please help
PS the amount of the loan was 5000

Did you include the loan in your bankruptcy filing?

 

[LdiJ]

Did you include the loan in your bankruptcy filing?

I suspect that the problem is that the cosigner has NOT filed bankruptcy, and is therefore being held responsible for the loan that they cosigned for.

 

[quincy]

I suspect that the problem is that the cosigner has NOT filed bankruptcy, and is therefore being held responsible for the loan that they cosigned for.

I suspect you are right.

 

[Taxing Matters]

Did you include the loan in your bankruptcy filing?

Unfortunately even if it was the cosignor that filed bankruptcy that would help because student loans are not dischargeable in bankruptcy without the debtor seeking an adversarial hearing in the bankruptcy court and getting the court to determine that the debtor could not repay the debt without “undue hardship.” This rule applies to both private and government guaranteed student loans. The U.S. Department of Education explains the bankruptcy discharge rule here:
https://studentaid.ed.gov/sa/repay-loans/forgiveness-cancellation/bankruptcy