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co-signer for neice's student loan

Date: Mon, 07/19/2010 - 15:33

Submitted by anonymous
on Mon, 07/19/2010 - 15:33

Posts: 202330 Credits: [Donate]

Total Replies: 3


Yes, I did a stupid but well-intentioned thing many years ago; I co-signed for my neice's first two years of college. She has never paid back a penny and I am diligently paying the collection agency every month. After having my paycheck garnished for over a year, I made an agreement with them to pay directly and have kept my word. They say they have tried to find her to garnish her paycheck but because of the huge backlog of defaulters, it hasn't happened. Now I find out she is losing the only job she has. I have also been told that at the rate I am repaying,and the interest that is acruing daily, the loan will outlive me. If I ever can accumulate anything to leave my children as an inheritance, will this loan be repayed first? Also, the collection agency seems to be content getting money from someone (me) and not terribly concerned with getting more money from her. Is there any recoarse for me to get her to pay what is still owed plus pay me back for the $4500 that I have already paid?


Her mother(my sister) is "sorry that you are having issues with her" but "poor _________is losing her job". She is basically useless. Her father, my ex-brother-in-law, used to talk to me about it but since he was being garnished for her third and fourth years of college, and now conveniently has lost his job, he stopped taking my calls and doesn't respond to letters. My neice doesn't ever empty her voice mailbox so no one can ever leave a message. I am considring writing to my congressman, for lack of a better optiom.


lrhall41

Submitted by on Tue, 07/20/2010 - 06:23

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