Do I have legal recourse against the ex student of a defaulted student loan. I'm the co signer?

Do I have legal recourse against the ex student of a defaulted student loan. I'm the co signer. The attorney general has contacted me by mail demanding payment in full.

I do understand that I am responsible and will contact the attorney general to set up payments. Can I sue the student and have his wages garnished? Also with the lending institution take less if it is a lumps sum repayment?

Asked by sweetwilliam 40 months ago Similar questions: legal recourse student defaulted loan signer Business > Financial Services.

Similar questions: legal recourse student defaulted loan signer.

Talk to an attorney, but I wuld say it depends on the statute of limitations in your state and when the loan went into default. The government can garnish wages of a defaulting student loan, but you, as a private citizen might find this a tad more difficult.. I think this is going to be one of those "lessons learned" situations - it's unfortunate that someone you trusted chose to screw you over like that. I'd also, at this point, consider working with an attorney..

I am sure you can I am pretty sure you can sue the student, but whether or not (s)he will pay you back is a different story. Why don't you call up the lending institution and ask them if they will take less if it is in a lump sum payment. Years ago when I got very sick, I was able to pay less on a charge card if I paid them in a lump sum.My girlfriend and her husband separated but the car he defaulted on was in her name, so she did the same thing, as I did and as you want to.

Ask them and negotiate with them. You got nothing to loss..

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I am a co-signer on a Sallie Mae student loan. The principal borrower is not making payments. When I make the payments.

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