Legal Question in Credit and Debt Law in Texas

My father (cosigner) and I are being sued by National Collegiate Student Loan Trust 2007-1 for a private student loan. Papers were served Saturday evening and we have 20 days. What are my options? My dad is retired and I don't make very much. What are the possible outcomes?


Asked on 9/10/13, 3:48 pm

1 Answer from Attorneys
Roger Merrill Merrill & Associates

A judgment for the amount owed plus legal fees/expenses can be obtained. Best to either enter into an agreed judgment for the amount due or negotiate for an agreed judgment at a lesser amount or agree to pay a certain amount each month (something you guys can afford) and have an agreement concerning judgment where the judgment will not be enforced as long as you are making the payments.

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Answered on 9/11/13, 6:43 pm


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