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Studen Loan Co signer problem

Date: Sat, 01/31/2009 - 16:26

Submitted by anonymous
on Sat, 01/31/2009 - 16:26

Posts: 202330 Credits: [Donate]

Total Replies: 4

Studen Loan Co signer problem


I co-signed on a student loan for my brother approximately 3 years ago. He has defaulted on the loan with no intention of paying so now the Sallie Mae is coming after me. The loan started at about 37K and is now over 60K they refuse to work with me and I have been struggling to make the payment to try and salvage my already damaged credit. To make matters worse my husband has been laid off. It seems I have no options with trying to get rid of this loan it keeps growing and as much as I hate the idea of bankruptcy it wouldn't even help I guess because student loans are one thing you can't get rid of in a BK.....I am in desperate need of help.


Quote:

they are really no different than regular consumer loans except you cannot get rid of them in BK
Yep...SOAPLADY is right....can't BK them. The defaulted loan is in BOTH of your names..which means it will end up on BOTH CR's. Can you tell me, pls, who the lender is? Private or...?


lrhall41

Submitted by sdchargers_63 on Sun, 02/01/2009 - 07:21

( Posts: 1798 | Credits: )


....they can ALSO take out the Defaulted loan from your Tax Refund, Unemployment,etc. I know this doesn't seem fair when you are, at least, trying to take care of it. :cry:


lrhall41

Submitted by sdchargers_63 on Sun, 02/01/2009 - 07:23

( Posts: 1798 | Credits: )