I defaulted on a MOHELA CASHLoan back in 2011 during a 3yr period of unemployment. The last payment I could send was in Dec 2010. Suddenly last month I started getting emails from MOHELA, who made no attempts to contact me since 2011-2012. I opened the notice and it stated that Kramer & Frank were assigned to collect on the defaulted loan.
I do not understand how after 5-6yrs of no contact, suddenly they can collect on this debt. If I remember correctly, it was a private loan. I assume that is correct since it states "cashloan" on the bill and I remember that being on of their options. Unforunately, I can't find any info on that type of loan thru google anymore. My concern is Kramer & Frank are notorious for wage garnishments and liens. I cannot afford for this to happen, as I am barely making it month to month as is. The statute of limitations in my state is 3yrs. Should they even be able to collect on this debt? If not, how do I stop it? I have made no contact other than to log in and view the notice.