I have not had much response other than what you say here. However, I have had a lawyer respond to me with this in reference to responding to the suit:
You must answer stating "Defendant denies the debt as stated, and pleads the statue of limitations of four years as a defense.' Defendand asks the plaintiff take nothing and defendant be awarded costs and for such other releif to which the court finds defendant entitled.
In your case, If you are in Texas, that loan is 7 years old, and I can't believe they are serious about suing you. That is way over the statues of limitations, and if they sued, I would definitely respond as such. Good luck, and just know that this too shall pass. And now that we know better, we will do better!