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Help on Scool loans?!!
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Posted by Floydg68 (68.236.31.41) on December 14, 2003 at 15:32:00:
Fourteen years ago I left college without finishing. I recently decided to go back to the orginal school I attended in Philadelphia and called them to find out about re-applying, transcripts etc. They informed me that I still owed a small amount of tuition from my last semester there and told me that I needed to pay the amount before transcripts could be released, which I was prepared to do. Upon going into the bursars office they informed me that I additionally owed $2800 in a federal Perkins loan. Needless to say I was shocked. As far I knew all my schools loans I paid back in full. The lady began to threaten me saying that the school will sue me etc. My question is this, the debt was from nearly 15 years ago. Am I still able to be sued? Can it possibly still reflect negatively on my credit report. I have a CR copy and the university is on there but for the tuition amount and it's listed a not-rated. Would it be in my best interest to consult an attorney. I'm asking all this because my wife and I have a goal of purchasing our first home in 2004 and are working hard to get everything in order. This may be a potential credit risk that would sink us. Any help would be greatly appreciated.
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