[BROKESTUDENT]

I signed a STUDENT LOAN NOTE in 1991 when I was 17 with the AMERICAN LEGION SCHOLARSHIP FUND which my parents co-signed. It was to be interest free until graduation, anticipated 1994, then interest will be charged with late payments each month no payment is made. In the note it states that it is my responsibility to notify them when I graduate or leave school. I wound up continuing to grad school where I finally graduated in 2001. During that 10 year period (1991-2001) I consistently received notices from my other student loans but nothing from this one; that is until last week. Last week I received a nasty phone call at my job demanding I pay over 2 1/2 times the original loan. All my undergraduate loans were paid by my parents but they no longer have records of any payments of that period. They may have paid them but do not remember. Does anyone know what recourse we may have? If this loan is still owed, we want to pay but a fair amount. Does any of this fall back on the lender for letting this go for 17 years?

[Fr_Chuck]

Well after 17 years of interest and late charges 2 or 3 times is a legal amount, and I am sure to the fund seems very fair.

Fair is in the eye of the beholder, If you have enough money in the bank or can borrow the money, you may want to make an offer in settlement.