Home > Tag Archives: co-signer

Tag Archives: co-signer

My Granddaughter Left College Just Months Before Finishing. I Cosigned.

Old man with headache.

Question: Dear Steve, I cosigned on student loans for my granddaughter. She left school months before graduating and has little or no income-she is living on her own and is not willing to communicate on a regular basis. She has student loans with both Sallie Mae and Wells Fargo. I know she has no regular job and most likely is ... Read More »

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


“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


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

break free from prison pressure or quit job running away towards

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

Ready to Collapse

“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

Ready to Collapse

“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

Ready to Collapse

“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

Ready to Collapse

“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

Ready to Collapse

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

Ready to Collapse

“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

Ready to Collapse

“Dear Steve, Is the cosigner responsible for pheaa students loans if death or disability of the student occurs? Ron” Dear Ron, Ultimately you’d have to look at the actual loan document. But since the cosigner is guaranteeing to repay the loan if the student did not I would have to imagine that if money was lent, the cosigner would have ... 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

Ready to Collapse

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

Ready to Collapse

“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 »

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