New York | Credit and Debt Law
Legal Question
Can they Legally Do this?
I have a student loan that went into default without me ever being notified that it was getting close to being in default. (I'm in still in school right now) Well this company called me up and told me that they had taken over the loan and we going to sue me as well as my cosigner if I didn't start paying on the loan. They told them I had to send them $5000 right away. And I did and since then I've been paying $1000 a month. Which isn't easy for me to do. Every month even before the payment is due they call and tell me I need to pay this month or they'll start proceddings to sue me. I tried to make a payment plan for a little bit less money. When I mentioned it they told me they would sue me instead and sue my co-signer. Can they do sue my co-signer? And is there anyway I can force them into making a different payment plan?
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