Legal Question in Credit and Debt Law in New York

Student Loan Collection Debt

Back in 1992, I received a judgement against me for a federal student loan payment because I defaulted on it. Is there a statue of limitations for collecting on this. Why do I ask? I am currently under a wage garnishment order and I did not receive any notice of this action. Thank you.


Asked on 7/27/03, 3:12 pm

1 Answer from Attorneys
Guy Lewit Guy Mitchell Lewit, Esq.

Re: Student Loan Collection Debt

Assuming you are providing the correct information, a judgment is good for 20 years. If you did not receive notice you MAY be able to vacate the judgment IF the court did not have jurisdiction over you...but you will still probably have to pay the Federal loan. Since only one garnishment of wages can take place at a time, the judgment creditor of the Federal Loan has to wait for you to pay off the prior judgment...all the while interest is accruing on the unpaid Federal Loan judgment at 9% per annum. You should IF YOU CAN, try to make payments on that loan since paying now will save you money in the future..you have to face it...

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Answered on 7/27/03, 7:56 pm


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