Legal Question in Credit and Debt Law in North Carolina
Sallie Mae is attempting to collect on student loans that my husband co-signed for, even though our daughter, the primary borrower, is making payment to Sallie Mae by allowing them to debit her checking account each month. The paperwork sent to my husband indicates the payment made by our daughter, and state that the payment is not 'sufficient' even though it is the amount agreed upon between our daughter and Sallie Mae, based on her income. How can Sallie Mae demand payment from my husband, the co-signer, if the primary borrower, our daughter, is already making the agreed upon payment?
1 Answer from Attorneys
it is a misunderstanding that a co-signer can't be sought until the creditor goes after the primary borrower. Unfortunartely, the creditor can go after the co-signer just as aggressively as the primary borrower. In this case, it sounds like Sallie Mae determined they could get nothing more from the daughter and are seeking payment from your husband.
Student loan are the ultimate debt...your husband should try to work something out with them that is beneficial for him.
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