Anderson, SC asked in Consumer Law, Contracts, Civil Litigation and Collections for South Carolina

Q: I am currently being sued by debt collector trying to sue on a private student loan from 2008. Isn't the SOL 3 years?

This loan was taken out in 2008 through BOA and no payment was even made because it was fraudulent. Now in 2020 this collection agency is suing. E despite the SOL being 3 years and from the evidence I have from the CFPB (Consumer Financial Protection Bureau) says that the SOL begins upon the first missed payment which was in 2008. Also does the collection agency have standing to sue since they have not submitted any evidence of payment to own this debt? Shouldn't they also have to show that they own this debt and what they paid if anything for this debt. Also Bank of America charged off this debt in 2008 so wouldn't that start the statute of limitations? Thank you in advance for your help as I have a plaintiffs motion for summary judgment coming up in 2 weeks.

1 Lawyer Answer
Bruce Alexander Minnick
Bruce Alexander Minnick
Answered
  • Collections Lawyer
  • Tallahassee, FL

A: Don't know about the SOL in South Carolina; but in Florida the SOL for this kind of debt is either 4 or 5 years, depending upon certain circumstances.

Rather than spending time asking lawyers here on Justia you should spend your time gathering all the evidence needed to show (1) the debt is way over 10 years old; (2) the collection agency is knowingly attempting to collect a debt that cannot lawfully be collected because of the SOL; (3) the collection agency cannot prove that any payments were made on this alleged debt at least since 2008, or any other time within the SOL; and (4) the collection agency should be sanctioned for bringing this spurious claim into this Honorable Court.

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