A friend of mine dealt with a creditor earlier this year on a private student loan that he defaulted on. The creditor harassed my friend and his co-signing mother and they took out a loan and paid off the debt.
Now, my friend has received another call from a creditor on another private student loan who is expecting payment on an even larger loan amount and again threatening to go after his co-signing mother. My friend has not received anything in the past 3 years on the loan and had lost track of it in the typical student loan nightmare in which we all think that what is one loan turns out to actually be about a dozen. The creditor claims to have been sending letters to my friend's old address--which is his parents' house where they still live. His parents aren't the type to have not passed on any mail he may receive to him so I'm doubtful this ever happened.
Can my friend rightfully expect to receive DV on this debt? I looked into the SOL in NY and I believe it's 6 yrs which would apply for private student loans so he's nowhere near the SOL on these yet. Personally, I think he should hire himself (and his mother) a lawyer to deal with this but I know he doesn't have the $$ to even do that. Although, considering they expect $40K immediately makes a lawyer sound like a steal to me.
Any advice? If I left out any pertinent information I will try to supply it upon request.
If the creditor is harassing, threatening, or lieing to your friend all those actions are illegal. As far SOL that depends on the state and the amount.