I attended college directly after graduating from high school in 2005. Having a full scholarship, I did not have to take out any loans for my undergraduate degree.
However, my mother took out a private student loan in the amount of $27,000 with me unknowingly as the cosigner.
I learned of this loan this past year due to collection calls as the loan is now due after gaining my master’s degree.
I requested a copy of the loan papers to confirm that my actual signature is on the loan. The payments are close to $500 a month and I simply cannot afford that at this time.
I have paid a $50 fee for 3 months of forbearance, but the loan is now due again. My mother is currently unemployed and has tried to ruin my credit in the past, but I have always been able to pay off the balance of a small checking account, etc.
However, this loan is too large for me to pay. I don’t remember signing the loan and she claims that she didn’t know I was a cosigner.
What can I do to get out of this loan? I am willing to sue my mother, but I want to make sure it is worth while before pursuing this action. My husband and I have our own student loans to deal with and are trying to move forward without this haunting us.
If you have a credit or debt question you’d like to ask just use the online form. I’m happy to help you totally for free.I Am Willing to Sue My Mother Over My Private Student Loan. - Elaine by Steve Rhode