Edit 3: Guys and gals, I appreciate the advice but everyone saying she's using me or not going to work are just making wrong assumptions about her. Since we've been together she worked 2 jobs or 2 shifts a day every day with almost no breaks and no vacations. She hasn't asked for a single dollar from me and always paid for her own stuff. Yes, she is irresponsible and she forgot about this loan (one way or another) but she is not lazy, not a gold digger and she's been with me when I was broke and almost on the street and she was the one to give me money then. It was a mistake not to pay this loan. I will deal with it myself because I am better with adult decisions than her. But please stop accusing her today for something she did 12 years ago. Edit 2: Here is the letter they sent us https://imgur.com/a/44QC9CF Edit 1: Thank you for all the advice. I did speak to a lawyer and she said the SOL applies to the state we currently live in, which is Illinois and is 10years. Her advice was to get payments and take care of it. We'll get a second opinion tomorrow. Her loan was a private loan, no co-signer and no collateral. *** Long story short my wife was a very irresponsible person in her teens. She took a 50k loan for college that she never used for the intended purpose (don't get me started on why). Years later, exactly 8, we receive this letter that says she owes $59,000 and if nothing is done in 30 days, they will come knocking on our door. Now I've met her in 2015 and she told me she'd had some debt, but I never thought it was for this much money. Now she's saying she forgot about it and she's sorry. Well of course she is... According to them it's a 7.5% APR loan and the minimum payment would be $500 a month. That would take a little over 10 years to pay off, I think. She doesn't work because she's pregnant and hasn't been working for a while. I'm a truck driver and I've been struggling with it and was thinking to quit before I found out about this. My question is, how do we proceed? Should we hire someone to try to negociate a settlement on that amount? How much could we expect to get them to lower that amount for? Will it affect my personal credit worthiness? TL;DR Wife has a 59k collection on her name from a loan that defaulted in 2011. Took them 8 years to find her. Any way to get out of it or lower the amount?