Legal Question in Credit and Debt Law in Pennsylvania
I co signed a student loan for my Grandson. What can I do now that he has graduated and cannot repay the loan on his present income?
Asked on 12/20/16, 6:11 pm
1 Answer from Attorneys
What do you want to do? You are stuck. Co-signing was a mistake because what you are telling the creditors is "go ahead and make the loan because if grandson does not pay, I will." Grandson had better find a way to at least help make 1/2 the payments. Otherwise, you are going to be stuck making the whole payment unless you have exempt income (like Social Security) and this is not a federal student loan.
Answered on 12/20/16, 9:29 pm
Related Questions & Answers
-
Frozen bank account in pa. Asked 12/13/16, 9:46 am in United States Pennsylvania Credit, Debt and Collections Law
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
