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scholoanquestn

Guest
What is the name of your state? nc, although I lived in IL while I was in school. My predicament is - I recently received a letter regarding an old school loan that I didn't even know about until now ten+ years later. It included one promissory note for around two thousand but they are asking for payment of over eight thousand. They are "sorry" but they "lost my file along with a number of others of people who were not reachable during the mid-90's." They certainly had my address because I received alumni correspondence and contribution requests almost monthly for the last ten+ years at every address that I've lived at. If they can't verify that I owe this amount with accurate records then what are my options and rights?

To add a little more background - my husband just paid off a sizable bill with this same school, a private college that receives no federal funding, (in order to receive his degree (ten years later) which they would not release until this was paid off. After he paid off that bill, not a small effort, they informed him that there was this other loan (they had lost his file too) of a little over two thousand but they would be happy to charge it off if he chose to do so. He had them do just that. How can they not treat these accounts in the same manner? As stated these loans were not federally backed but private from the institution. What are my options? Thanks for any help!!
 


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Rainaraines

Guest
Sounds a little fishy to me. I would request a copy of the promissory note from them regarding that account. Also, just because they charged-off your husband's loan doesn't mean that they will never come after him for it. I would have them validate his loan also, especially if he doesn't know anything about it either. Furthermore, I would talk to them about lowering the interest on your account since they admittedly didn't contact you for over 10 years when they had a correct address... Just a suggestion.
 

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