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Tag Archives: co-signer

How Can I Get My Father Off My Private Student Loans as a Co-Signer?

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“Dear Steve, I’m about $80,000 in debt in private student loans. I’m behind on my payments and my credit is a mess. My father co-signed on my loan with his perfect credit. I was wondering if you had any advice for me. Is there any way to consolidate private student loans without adding a co-signer? I am trying to consolidate ... Read More »

    How to Get a Co-Signer Off a Private Student Loan

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    Private student loans are bad news all by themselves but when you add in a co-signer, things can get very financially messy. Co-signers think they are doing a nice thing for their relative or child when they co-sign. They think they are helping to further the persons education and give them a hand-up in life. But often what they are ... Read More »

      Letters to Release Co-Signer From Private Student Loan

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      Sample Letter on How a Borrower Can Release a Co-Signer You may use the sample letter on the next page to ask your loan servicing company for more information about how to release a co-signer. How to use this sample letter: Read the background below. Fill in your information on the sample letter and edit it as needed to fit ... Read More »

        Sallie Mae is Coming After My Son After His Co-Signer Passed Away. – Diane

        Certain death

        “Dear Steve, My father-in-law had co-signed sallie mae student loans for my son approximately seven to ten years ago My son has been paying interst only on these loans of 68,000 dollars. 40,000 dollars is the portion that was co-signed. In April of this year my father-in-law passed away and know sallie mae is telling us that this money is ... Read More »

          My Son Co-Signed a Car Lease With a Girlfriend. Is He Liable? – Rebecca

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          “Dear Steve, My son (now 30) co-signed a car lease with a girlfriend in 2006. It is her car. They have since split and she traded the car in on a brand new one. Nissan Motors is owed $1800 for mileage overage and misc. Her last payment on this was in Jan 11 for $5.00. It needs to be paid ... Read More »

            I Cosigned for My Sister’s Truck and Now She Can’t Make The Payments. – James

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            “Dear Steve, Hello..my question is I co signed on a lease for a truck for my sister..dumbest thing I’ve ever done. It’s got bout 10 payments and she cannot Pay it either can I. What are my options what can I do to not hurt my credit anymore? Screwed and regretful Anything I can to not have keep making the ... Read More »

              My Bankruptcy is Impacting My Son’s Credit. – Kathy

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              “Dear Steve, We filed bankruptcy in January 2009 and we are paying it back through the courts. The question I have involves my son, I was cosigner for him on a charge card from a bank that was included in the bankruptcy the lawyer I used said I had to include eveything that had my name on it but that ... Read More »

                I Guaranteed a Loan for Another Business. Will They Come After Me? – Vernal

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                “Dear Steve, Self-employed, Signed on some loans for another person’s business, that person is not paying. Now they are coming after me and have put a lien on my property. And another loan, they got a judgement and zeroed out our bank accounts, have no money. everyone is coming after me. I own 2 pieces of land and a house ... Read More »

                  Will My Friend that Cosigned for My Motorcycle Be Stuck With My Debt When I Go Bankrupt? – Tommy

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                  Tommy “Dear Steve, Currently have two accounts opened with Honda Card Services, financed through GE. On one of the cards I was charged for a motorcycle which later got stolen (No gap, no insurance), and the other card was used for maintenance of the bike (oil changes, etc). Both cards were co-signed with one of my close friends and I ... Read More »

                    I Don’t Want to Ruin My Cosigners Credit But I Need Help! – Joe

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                    “Dear Steve, I hope you can lead me in the right direction. I am in serious debt trouble. I don’t know were to go from here. My debt is out of control with 2 bank loans 5000 a piece, 1 credit card $16,000 which I have a cosign on and have never been late. 2 student loans one 20,000 the ... Read More »

                      Would a Cosigned PHEAA Student Loan Be Forgiven By Disability? – Ron

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                      “Dear Steve, Is the cosigner responsible for pheaa students loans if death or disability of the student occurs? Ron” 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 debt. – Click Here The Answer Dear Ron, Ultimately you’d have to ... Read More »

                        Chloe Ruins Credit of Daughter With American Express

                        American Express Card

                        Chloe “Dear Steve, My daughter opened an AMEX card for me since my credit is fair. She got me a card in my name off of her account to be used for emergencies For the first 8 months of the card I was able to pay the bill however in mid July I came upon financial hardship and wasn’t able ... Read More »

                          Will They Go After My Son for the Car I Co-Signed For? – Dawn

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                          Dawn “Dear Steve, I co-signed for a car for my son. He wasn’t able to make the payments anymore because the engine blew up on the car. I know I’m responsible as a co-signer and all I can afford to do at this time is to turn it back into them. Is there any protection besides Bankruptcy from the amount ... Read More »

                            My Father Cosigned for Our Truck. He Doesn’t Know He Owes the Debt. – Jami

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                            “Dear Steve, Hi. We have run into quite a bit of problems. It has been one thing after the other, and some rather bad choices. In 2004, we had a car with a small payment. Only $284 per month. My husband decided that he would like a van for our family since we have 4 kids. (The first car was ... Read More »

                              I Don’t Want The Car In My Driveway, I Can’t Afford, to be Repossessed or Effect My Credit. – Brandy

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                              Brandy “Dear Steve, I signed a car loan for an ex, now he is not paying…What do I do next? In November 2008 my boyfriend of 3 years and I went to a auto dealer. We traded in both are vehicles for a 2005 Jeep Liberty (for him) and a 2004 Nissan Murano (for me). He was not able to ... Read More »

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