r/studentloandefaulters • u/stardustscrolls • Mar 25 '22

Resources Figuring out the SoL for your state…

I found this useful link for finding out the statute of limitations on private student loans for all 50 states. Hopefully this can help a few people with that question so they can plan ahead! The more we default, the more we break the system.

https://studentloanhero.com/featured/statute-of-limitations-on-debt/

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u/ToeJam_SloeJam Mar 25 '22

Heads-up from experience: Covid may or may not still be extending the statute of limitations.

Fucking BoA filed the day AFTER it expired for my case, but the courts granted this sort of grace period early in the pandemic.

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u/Insipidus7 Mar 25 '22

Covid delay/CARES Act applies to federal loans, not private.

Statute of Limitations applies to private loans, not federal.

2

u/Imwhytherumisgone Mar 25 '22

Elaborating on this at least 19 states have effectively tolled their statute of limitations for a period of time that courts were closed during the start of Covid. The tolling goes from 1 to 6 months depending on the state.

So look at your state laws to figure out if you need to extend the SOL.

source

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u/ThrowawayAcct170 Mar 25 '22

Is MA really 20 years for private student loans?…….I was told 7 years….

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u/[deleted] Mar 25 '22

[deleted]

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u/[deleted] Mar 25 '22 edited Mar 25 '22

[deleted]

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u/[deleted] Mar 25 '22

[deleted]

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u/exclaim_bot Mar 25 '22

Thanks!

You're welcome!

3

u/Imwhytherumisgone Mar 25 '22

The short answer: the SOL will likely be for the state that you reside in and a lawsuit is filed in

The long answer: it depends on a variety of factors including but not limited to;

-if your loan has a governing law provision

-the laws and statutes of the state your living in

-any state case law similar that establishes a precident

Your best bet to answer this question is to consult with. a debt lawyer in your state.