Category Archives: Co-Signing

How Do I Make Nelnet Remove My Father as a Cosigner. – Steve

“Dear Steve, I have a private loan through Nelnet with about $24k (from $35k) left. My father is in the process of buying a business and needs me to take him off as a cosigner but when I called Nelnet they would not do this because I was 15 days late on a payment back [...]

I Cosigned for a Private Student Loan and The Loan Has Gone Missing. – Jan

“Dear Steve, I cosigned a private school loan for someone, and upon being due she defaulted and I have been paying the payment now for about 1 1/2 years each month to the prior loan servicer AES. She never paid a payment, and has recently filed Chapter 13, and when I went into the AES [...]

Cosigned for Sisters Car. Collection Company Put Bad Debt on My Credit Report. – Harriett

“Dear Steve, Collection agency have placed a bad debt on my credit report because I co-signed for my sister. I co-signed for a car for my sister. she lost her job and the car was repo, since i have received letters from the collection agency for this debt. During that time I was not aware [...]

An Old Bank of America Loan Has Surfaced And I’m Being Threatened With a Lawsuit. – Nancy

“Dear Steve, 56 yrs old getting a divorce, left with much Irs debt from husband have to go back to school to refresh my nursing skills. Selling my house to pay off Irs and morgage and car. Will have to start all over (small apt, work full time ect.) My bank of america loan from [...]

I Co-Signed for a Sallie Mae Student Loan for an Ex-Boyfriend. – Lisa

“Dear Steve, When I was 18 I co-signed a Sallie Mae loan for my boyfriend. I am now 29 and we broke up about 2 years ago. He has fallen on hard times and stopped paying his loans and they are coming after me for the money. It is damaging my credit and I may [...]

Sallie Mae Said They Were Willing to Release Me as a Co-Borrower. – David

“Dear Steve, I’ve cosigned 3 Sallie Mae loans and had my signature forged on a fourth loan original principal was $32k. Now with interest, penalties, etc. the balance is about $50K. I’ve no idea where the primary borrower is and his mother (an ex-girlfriend) is somewhere in Florida, but not responded to any phone calls, [...]

I Co-Signed for a Car for an Ex-Girlfriend. Now They Are Coming After Me. – Chase

“Dear Steve, I co-signed for a car loan for an Ex-girlfriend about a year and a half ago. She has been late on at least 50% of her payments, wrecking havoc on my credit. A point to note is that, though I went in with the intention to co-sign, they made me co owner without [...]

I Co-Signed for a Car Loan But Now I Need to Get One. – Wanda

“Dear Steve, In 2011 I co-signed on a loan for my daughter. A few months later her fiance totaled the car. The insurance took care of everything. She was able to get another car, but I also co-signed for this one too. She’s good at making the payments. I have a 2005 Honda Element and [...]

We Don’t Make Enough Money to Repay Our Debt. What Do We Do? – Melody

“Dear Steve, I started out with nothing graduating from a private christian home. However I have accrued a $3,000 or more student loan. The first college I tried going to was a big money racket but i didn’t know that, now I do. I have about a $1,500 credit card debt that is already in [...]

Sallie Mae is Threatening to Garnish My SSDI Income. – Trudy

“Dear Steve, A few years ago I co-signed two private student loans for my son through Sallie Mae. I am disabled and receiving SSDI. My son has now defaulted on the loans and Sallie Mae is demanding payment from me. The loan is now with a collector who is threatening judgement. I live in the [...]

Can I Get My Truck My Father-In-Law Cosigned For In The Divorce? – Daryll

“Dear Steve, Can I get the truck my father in law co signed for me, now that my wife and i are getting a divorce? Daryll” Don’t miss our free Get Out of Debt – “How To” Guide Series on a number of topics, for loads of practical advice, tips, and help to beat back [...]

My Wife is Getting Garnished for a Federal Student Loan She Cosigned For 23 Years Ago. – Robby

My wife was married to her ex at the age of 20. It only lasted a year, but during that year she cosigned the joker’s student loans. They are fed loans. My wife is now 43 and with in the last six months they started drafting her paychecks. At first it was a huge amount, [...]

How do I stop being liable for my sons student loans? – Suzanne

I’ve co-signed on several of my son’s student loans. I have been making payments for several years on these loans while he was in graduate school. He recently moved out of the country and is still not earning a steady income. I don’t believe he has any intention of ever making payments. Is there any [...]

I cosigned Sallie Mae student loan and now they are coming after me. – John

I cosigned student loans for my son for 3 years. He went for a loan for his senior year of college and they refused because it was up to $100,000,00. He had to quit ollege and they immediately made him start repaying back. (this is a Sallie Mae Loan). He cannot pay it and now [...]

I Cosigned on My Son’s Car Loan. Now They Want Me to Pay. – Ellen

“Dear Steve, I got behond on my cerit cards and signed up for careone. its been going great till now. I am in a credit counsiling program with careone which is going great till recently ive got a call that my son lost his car I co-signed for and they are now wanting to put [...]