What Are Your options if You Are a Cosigner for a Student Loan

[@leofama9079]

Hi is settlement an option prior to defaul

[@ArkovichLaw]

Not usually.

[@fightthebully3331]

My ex-wife signed my name digitally on a Sally mae student loan and after our divorce is when I found out I was a cosigner. I have the promissory note and it doesn't have my signature. I spoke to Sally mae and they said it happened before the divorce so I gave consent. It's been over 15 years and she has been dragging this loan allowing it to build up over 5k in interest and refuse to work with me to get my name off the student loan. Frustrating.

[@choochootrain7540]

Thank you for your information. 😀

[@ArkovichLaw]

My pleasure!

[@christinestumpf10]

​@@ArkovichLaw hi my sister husband co signed a student loan for his son my nephew for university 6 years ago my sister and her husband was going through financial difficulties loan was $35,000. They thought they would recieve money from settlement never happened He made very little payment in the beginning , he hasn't paid anything in 5 years ....... My sister and brother in law is making payments on loan for a piece of land my sister wants to know , once they pay off loan for land can they take their land it's in her husband name if her husband still owes money for university loan thanks

[@Melbelle-us6lo]

What about a 1099 C cancellation of the debt that the borrower can request and file it on their taxes as income. I have heard other student loan sites say this is an option for private loans. I have been on the hook for my son’s loan and I can’t even refinance my house because the delinquency is hitting my credit. I made more than 24 months of timely payments and it is just like you said one excuse after another why I can’t come off the loan as a co-signer. I have been trying for two years. I lost my job 18 months ago my son lost his job due to Covid and it would help me to refinance my home and I can’t even rebuild my credit with this issue. I have asked about the 1099 c since he has no income it would not be a huge liability to include in his tax return since he only worked the first couple months of the year. They act like I am speaking French and they have no knowledge of this process, but it does exist. Any thoughts on this?

[@magico5314]

awesome