Legal Question in Credit and Debt Law in Massachusetts

Promissory note collections after 7 years

In college, in Massachusetts, I was co-signer of a promissory note through the school to continue my education (my mother was the primary). I consolidated all of my student loans and am still paying on them faithfully. This summer I was contacted by a collection agency for the promissory note I mistakenly thought had been consolidated. I graduated in 1993 and was never billed once from the college. This did not show up on my credit report until a year and a half ago, but I didn't know at the time what it was for. This collection agency is now trying to collect 3 times the original amount of the note. Does the school have an obligation to send me a bill within a reasonable amount of time and on a regular basis? Is there a statute of limitations for this type of debt?


Asked on 3/07/01, 9:55 pm

1 Answer from Attorneys
Roy Weddleton Granite Law

Re: Promissory note collections after 7 years

Your message is a bit confusing but essentially there is no statute of limitations on most student loans. Depending upon the facts, you might owe the full amount but sometimes they will be willing to compromise some of the interest.

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Answered on 5/25/01, 7:31 am


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