Co-signer ISSUES!!
Date: Wed, 10/21/2009 - 14:56
Co-signer ISSUES!!
My husband Co-signed a Student loan for my sister... 3years later all the extensions are gone, she's not in school and the loan is about in default.. What can we do about this? Will taking her to court do any good? P.s. She doesn't have a job. She told our mother that her credit is already shot. and if my husband wants to save his - he should be making the payments!! HELP
Your husband is legally responsible for the payments on the loan
Your husband is legally responsible for the payments on the loan...cosignors are held just as responsible for the debt as the borrower.
I am assuming this is a private loan. They will sue if it defaults. And if it is about to default, this is already affecting your husbands credit.
