Duncan Law Blog
A statute of limitation sets a time frame to let a creditor know how long they have to try an come back and sue you for a debt that you owe. As discussed before, there are different statute of limitations depending on the type of debt that is owed. Unfortunately with student loans, there is no statute of limitations. Most student loans are Federal student loans which are backed by the Department of Education, in which they can come after you indefinitely for the debt that you owe. Under very rare circumstances, you may qualify for a cancellation of debt if you happen to become permanently disabled. Even more rare, you may try to discharge student loans within a bankruptcy if you fall within certain guidelines.