I cosigned on a student loan for my Son earlier this year. Is this an issue in BK? Is it considered a debt of mine? The payments will not even start until 12.
So many questions
So many questions
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If you co-signed, then it is a debt of yours and the student loan lender needs to be listed as one of your creditors. Student loans can't be discharged in bankruptcy so one of you will be making the payments when the time comes anyway.Originally posted by 325Falcon View PostI am not a lawyer and this is not legal advice nor a statement of the law - only a lawyer can provide those.
06/01/06 - Filed Ch 13
06/28/06 - 341 Meeting
07/18/06 - Confirmation Hearing - not confirmed, 3 objections
10/05/06 - Hearing to resolve 2 trustee objections
01/24/07 - Judge dismisses mortgage company objection
09/27/07 - Confirmed at last!
06/10/11 - Trustee confirms all payments made
08/10/11 - DISCHARGED !
10/02/11 - CASE CLOSED
Countdown: 60 months paid, 0 months to go -
As a co-signer, you are liable for the debt and must list the creditor on your BK.
I am guessing that if a co-signer was required, this loan is not your standard federal student loan and is some sort of private loan, correct? Since you did not receive the educational benefit in questions, you might be able to get this debt discharged. However, as it stands right now, your son will be liable for the debt and will probably never be able to discharge the debt in BK.Comment
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No its a Salliemae federal loan.Originally posted by HHM View Post
Thats what I was thinking. He got a lower rate because I cosigned so I wonder if he will keep that rate?
I understand student loans cant be discharged so I am not sure if I would be disharged from it or not.
even know I am just a cosigner. Not to worried, the Army will be paying the loan anyway.
This question is going on my list.
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