Legal Question in Credit and Debt Law in Texas

Hello. Thank you for offering this free service. Here's my question: If I do not pay my student loans back, will my parents' property be taken away from me if they leave their property to me? I have $80,000 worth of student loans from 1993 to 1996 and I cannot even work in the field for which I attended school. The owner of the school I attended actually closed down the school a couple years after I graduated and opened a school for the VERY THING she assured all us students would never jeopardize the future of our chosen profession.

I did pay my student loans when I was financially able to do so. I paid them for the first three years, but I have not paid them in about 13 years. I simply cannot afford to pay, and even if I had the money, I would be paying for something that I cannot even do. So my question is simply: If I inherit anything, will it be taken since I have not paid back those loans? One of my CPAs told me years ago that they will come after me for 20 years or something like that. But from what I'm reading, that's not true. It seems as though this "debt" will follow me to my dying day.

Again, thank you so much for your assistance.


Asked on 10/05/12, 7:58 am

1 Answer from Attorneys
EDWARD KAZALEH KAZALEH & ASSOCIATES, LLP

After the Bush changes to student loans, they can not be discharged in Bankruptcy or virtually anything else. However, President Obama introduced some serious reforms that might help you. Also, he got rid of Sallie Mae and brought them all under the Federal government. I myself found thousands and thousands (over ten thousand) in fake/false charges added in that it took years to deal with. There are some discharge waivers for when the school closed down, especially if the school was just fraudulent. There are discharges if you still owe after 20 years and can't pay. You really need to contact the Department of Education OMBUDSMAN office in Washington and talk to them. You have virtually NO legal remedies, unless you find fraud and have the evidence/time to try to straighten it out. You are better off talking to the DOE. Best of Luck!

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Answered on 10/07/12, 6:43 pm


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