Student Loan in Judgment

Hi, welcome to the site.

You could probably make arrangements, but you'd more than likely have to pay more than the 15% you would be getting garnished. Since they've already obtained a judgement, it doesn't make much sense to pay more, since it's already going onto your credit report as a negative.

I hate to add to your worries but...student loans are no longer dischargable in BK...under the new reforms of 2005. And, they can also attach your future social security benefits...even disabled veterans...wonderful huh? Just no that you are not alone...there are thousands of us facing these very same problems.

Private loans will not appear on NSLDS.

Since TERI is a private lender, not government backed, they CANNOT attached social security income.

Hi unclebonald....don't give up yet....please take a look at this site.
http://www.naca.net/know-your-consumer-rights/

This site offers links to Attorneys listed in every state who specailize in Student Loans and the first consultation is free. I recently had my first...free of charge...and this guy gave me about an hour or more of his time free of charge. And, I did get some very helpful information. Now I myself am disabled and cannot work. However, my husband's income varies between $49 to $54 a year. Now we have very little debt except for my student loans(which don't count as mine are thru DOE), and, we have no dependents living at home. And, even with very little outstanding debt versus income....the information we recieved from this attorney said we would still qualify for chapter 13....which wouldn't wipe it away...but, certainly might make it easier for you to get things re-organized and much more affordable to pay. It's worth a shot and I hope this helps some.

As I was getting ready to leave the office today, I got a call from our legal department informing me that they have been subpoenaed by Cohen and Slamowitz for information about my salary, my insurance, my bank accounts, etc. and stating that they won a judgment against me for a student loan in the amount of $15k+. I mentioned this judgment on this forum in 2007 (they won the judgment in 2005) and expected the wage garnishment to come anyday. This is the first I've heard from them since that time.

I did some digging around to see if I could find any information that would help me to find cause to request that the judgment be vacated. It is my understanding that the statute of limitations on collection of private student loans (this was a Citibank Grad Assist Loan) in NY state is 6 years. I don't have any information about the date on which it was actually disbursed, but I signed the promissory note in November of 1995. So, let's say it was disbursed within 6 months of that, putting the disbursement date at May of 1996. I actually finished school in May of 1996, so I would have been required to begin repayment within a few months of that. I do not recall having made any payments on this loan, though i was paying some loans at the time. I certainly did not make payments on more than a few occasions and certainly none more than a year from that date. That puts us at May 1997. If that's the case (and I think that's a stretch), the CA would have had to file a suit against me by May 2003. Based on the information I've found, the judgment was filed in February of 2004. I know that's cutting it close, but I think that's just outside of the statute of limitations.

It's Cohen and Slamowitz, so chances are, they bent the rules. I can imagine it's hard to have a judgment vacated, but since C and S have not been in contact with me, I tend to believe it's worth a shot.

Has anyone had any experience with that? Any advice?

Has anyone had a judgment won against them by this firm and had success in having it vacated? Has anyone challenged an SOL after a judgment has been won?

I really can't afford to begin paying this now as I am paying several other loans.

Thanks!

The SOL starts from your default date, not when the loan went into repayment. So dispursement dates really have no bearing at all. You would need to find out when you actually went into default.

Were you served? If so, did you answer the summons? If you did not respond and were properly summoned, you are going to be SOL on fighting it now.

Any suggestions on how to find out when I actually went into default?

I was not properly summoned. My inclination is to go to the county court and file a request to vacate, even though it is several years later.

What is not properly summoned? You either were summoned or you were not.

I was not summoned. I was never served a summons.

Then you will have to go to the court and check how they and where they summoned you. I believe in NY they can simply attached to your door.

If they attached it to a door it wasn't my door. I'm probably going to go to the courthouse on Friday and see what I can find out. Thanks for your help.

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Indie...you got private or federal loans??

There is no SOL on federal student loans.

I have 1 or 2 federal student loans :-/

Thus no SOL indie...plus they can garnish without a court order.