cosigner on an old loan -- agency wants us to pay
Date: Wed, 09/20/2006 - 21:32
My sister thought she was helping a friend 9 years ago when she cosigned a state student loan (not Federal), though my sister claims her friend misreprented the form (she thought it was for a reference). The borrower never paid the loan, now the collection agency is threatening to take us to court. Can they do this?
The debt is from 1997, there is little documentation including what the amount of the loan is. The loan application says it was to be used in 1997, but the money was given out in 2001. The only paperwork is an old application.
Is the collection agency just trying to get money from her because they found a paper with her name on it?
The debt is from 1997, there is little documentation including what the amount of the loan is. The loan application says it was to be used in 1997, but the money was given out in 2001. The only paperwork is an old application.
Is the collection agency just trying to get money from her because they found a paper with her name on it?
The SOL on student loans never expires. Since your sister has be
The SOL on student loans never expires. Since your sister has been involved wrongly in the loan application form, you should take some legal advice before making your next move. The debt collector has papers in which your sister's name is put, so they have chances of filing charges against her. I am not sure about this, you should consult an attorney.
