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Another co sign disaster

Date: Wed, 12/16/2009 - 19:18
Submitted by Joseph Thornton on Wed, 12/16/2009 - 19:18
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My wife did the unthinkable, and co signed a student loan for a teanage friend. No need to go into the particulars, but the loan has gone into default. Now I'm the bad guy because I want to cough up all the info about her FRIEND; which isn't much to get them off our backs. I am pretty much aware of all the legalities of what my wife has done. Right now I am just trying to figure out what I am up against. She does not recall the loan amount or even an approximate. And of course she did not hold onto any paper work, that makes it easier to keep the whole thing a secret. The two of them had been brushing this under the carpet for about three years and now the FRIEND is almost impossible to get a hold of, but we are still right here so guess who they are calling. I was told that I could access basic loan information at Sallie Mae's website with my wifes Soc #, but that doesn't seem to be working. I can not get anything out of the C.A. because of confidentility, and they only want to talk to people that might be or be able to pay. Can anyone help me with getting the current status of this loan (i.e. amount, payments made, etc.)


I think the status of the loan can be checked from the following link, but one may need to have a login id for that reason. Ask your wife if she has any access to the Sallie Mae account.

"http://www.salliemae.com/get_student_loan/apply_student_loan/checking_status/"

However, if the loan is in default and she happens to be the cosigner, the loan would appear in her credit report as well. Pull out her CR for confirmation.


Submitted by SC on Thu, 12/17/2009 - 01:01

SC

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If it is in default, the Sallie Mae online links probably wont work since it is transfered to a different division.

Call the CA and give them the information on how to reach the borrower, especially employment if you have it. Or fax it to them.

Current status would be default. There is no inbetween. And FYI....Sallie Mae does actively sue both parties.


Submitted by SOAPLADY on Sat, 12/19/2009 - 06:20

SOAPLADY

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( to add my '2 cents')..did your wife know what she may have been getting into when she co-signed? Goodness! You can look at the 'bright side'. SHE is the one who co-signed, not YOU. I know she is your wife, but,..you may want her to handle it herself..'tough love thing', I mean. I'm NOT trying to be cruel..just..it 'is what it is'.


Submitted by sdchargers_63 on Sun, 12/20/2009 - 17:20

sdchargers_63

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