Collection Agency ?
Date: Tue, 11/20/2012 - 20:20
I've been contacted by Allied Interstate Inc in reference to a Sallie Mae loan I co-signed for. The young man I helped and his parents are refusing to pay the loan, so the rep says to me from the looks of my credit report I pay my bills on time so they would be pursuing me for the debt. I said the young man works, just moved to an apt, and bought a car $400 mo payments, why aren't his wages being garnished? He said I appear to be more responsible. He gave me an option of paying $11000 and being removed from the loan, or paying $1000 with $178 mo payments for the life of the loan, I said so this kid gets off scott free? He suggested I borrow the money from family/friends. My income from my understanding is judgement proof, (VA benefits/SSD). Can they seize my bank account or attach a lien to my car?
Legally as cosignor you are responsible for the loan. However y
Legally as cosignor you are responsible for the loan. However your income is exempt. However if you own a home you will probably find a lein on it.
Option...send them a cease and desist letter with the other parties phone, number, cell number, work number and his parents number.
