Legal Question in Credit and Debt Law in Maryland

10-year student loan debt

Shortly before we were married in June,

my husband began receiving notices

from a collection agency regarding

student loan debt (Federal Perkins and

Willard Hackerman Loan Fund) from his

undergraduate days (1993 - 1994). He

had not made any payments since

graduation, and despite working for the

university after graduation no collection

efforts were made. We want to ''clear

his record,'' but first want to make sure

that the debt is still valid, and

determine the way to pay that will

impact our credit the least, particularly

since we were hoping to buy a house in

the next few years. We're not even sure

whom to consult...a collections lawyer,

or a fee-only credit counselor? Any

advice would be appreciated. I believe

my credit is good, so the possibility of

me taking a loan to pay off his is an

option as well. Thanks!


Asked on 10/16/06, 10:54 pm

1 Answer from Attorneys
Daniel Press Chung & Press, P.C.

Re: 10-year student loan debt

There is no statute of limitations on federally-funded or guaranteed student loans, so if the debt for a Perkins loan was incurred and not repaid, it is still valid.

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Answered on 10/16/06, 11:41 pm


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