Student Loan in Default - Cosigner Remedies
Date: Sun, 08/23/2009 - 07:50
Are the step grandchildren paying on the loans? Have you spoken
Are the step grandchildren paying on the loans? Have you spoken with an attorney?
There is one step-grandchild not paying. That is the loan in de
There is one step-grandchild not paying. That is the loan in default. AES has just exercised their option to demand payment in total. This loan is for 17k. I'll be speaking with the attorney next week.
BTW, CAM0 and CAO2 are the same person. I have 2 signons. I sh
BTW, CAM0 and CAO2 are the same person. I have 2 signons. I should have mentioned that the one step-grchild in default has three more loans coming out of forebearance. Another step-grchild was delinquent on 4 loans earlier this year but has brought them up to date. A third step-grchild is delinquent on a 12.50 payment by 67 days - and will go out of forebearance on 80k of loans by the beginning of the year. Total of all cosigned loans is about 290k.
Was he under Power of Attorney when he signed the prom notes? I
Was he under Power of Attorney when he signed the prom notes? If so, and the kids knew he was not capable of making his own decisions, I do believe this is some form of elder abuse...a financial one.
His wife was alive when he signed the notes (the grandmother).
His wife was alive when he signed the notes (the grandmother). All bank accounts were joint and she handled the finances. There was a POA in effect at the time - my father's wife had the POA. After she died, the POA went to me.