Legal Question in Credit and Debt Law in Pennsylvania

I co signed a student loan for my Grandson. What can I do now that he has graduated and cannot repay the loan on his present income?


Asked on 12/20/16, 6:11 pm

1 Answer from Attorneys

What do you want to do? You are stuck. Co-signing was a mistake because what you are telling the creditors is "go ahead and make the loan because if grandson does not pay, I will." Grandson had better find a way to at least help make 1/2 the payments. Otherwise, you are going to be stuck making the whole payment unless you have exempt income (like Social Security) and this is not a federal student loan.

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Answered on 12/20/16, 9:29 pm


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