Student Loans Have No Statute of Limitations

An appeals court in Albany, New York held, this week, that the New York State 20 year statute of limitations on student loans was preempted by a federal statute, and that there is no statute of limitations on collecting student loans.  Although this decision does not come from the highest court in New York State, an appeals court decision can be very influential across the state and can even influence decisions in other states. The circumstances in this case involved a loan that was 25 years... 

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Creditors’ Restraining Notices: There is a Limit

Creditors who obtain a judgment against consumer debtors have many ways to collect their money from debtors who fail to pay the judgment.  Unfortunately,  many of these debtors never even know about the judgments until their bank accounts have been frozen by the creditor.  Elsewhere I’ve written about how a creditor can get a judgment without a consumer even knowing that a lawsuit was started. In the first issue of The Legal Literacy Newsletter,  published this week, I discuss the... 

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