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Just a vent, who knows someone may know something..

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  • Just a vent, who knows someone may know something..

    arents co-signed student loan..now at $50000,,,4 programs..no degrees...child is 24 and not attending school.

    Parents are now separated, 4 years later.

    24 year old is going thru something, moved away from everyone and everything she has known.

    She has just bought a very expensive used car....assuming the mom has cosigned the loan..

    She has literally informed her parents they will now be responsible for her student loan. so half each month....

    Anything parents can do...if they dont pay, hit on their credit score.

    They were both more then willing to pay til she moved out,,,no money..and now cant even pay off living and car expenses, when she lived in a rent free situation with both parents contributing

  • #2
    If she defaults on the payments it becomes the co-signers responsibility, that is what you take on as a cosigner. You can always try to recoup through small claims court but no idea how successful you might be.

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    • #3
      As a co-signer you are stuck with it. Be glad you aren’t on the car loan. Also fingers crossed that the other parent continues to pay their half of the other loan.

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      • #4
        Unfortunately he is stuck with it.

        Now, I know you love him but he has demonstrated over and over his stupidity with his ex and kid. I hope you are being smart and not paying these bills for him. This is another example of his mistakes. I don’t believe for a moment he was coerced or anything like that. His ex and his kid have walked all over him and he has allowed it. You need to do some serious thinking about your life with this man.

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        • #5
          No worries there..

          He hasnt spent a cent of the money from the house sale.....and his issue was hey...I trust my wife...she majored in math ..so one would think she could take care of money? She was a horrible money manager....and ya Im way too cheap to give him a cent...ever..that is his liability..not mine

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          • #6
            He needs to get his shit together and possibly meet with a financial advisor. They are normally included in your banking package wherever you bank. If he has debts like this popping up, he needs to figure out how he is going to pay them and how to get off of them.

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