brokedaddy
New Member
My wife cosigned student loans for my stepson. I was fine with it, but kept a respectful distance because of issues with the divorce. I trusted that they knew what they were doing. Big Mistake !!
Because we were cosigners, we did receive and routinely dismissed calls and letters from finance companies wanting to sell consolidation services. Some of these turned out to be delinquent notices.
Stepson cannot make payments and has requested a one-year forbearance on his loans. I understand that as cosigner my wife has an obligation to pay this loan if Stepson cannot. That's OK; he is a good kid just a bit over his head. But I still want to protect ourselves.
Here are my questions; can we take some sort of legal means to limit his credit? Can we take legal action to prevent his father from cosigning car loans for him? Can we force a collection agency to garnishee his wages first before coming after us? Can we garnishee his wages? Are there any other legal remedies that I am unaware of?
Because we were cosigners, we did receive and routinely dismissed calls and letters from finance companies wanting to sell consolidation services. Some of these turned out to be delinquent notices.
Stepson cannot make payments and has requested a one-year forbearance on his loans. I understand that as cosigner my wife has an obligation to pay this loan if Stepson cannot. That's OK; he is a good kid just a bit over his head. But I still want to protect ourselves.
Here are my questions; can we take some sort of legal means to limit his credit? Can we take legal action to prevent his father from cosigning car loans for him? Can we force a collection agency to garnishee his wages first before coming after us? Can we garnishee his wages? Are there any other legal remedies that I am unaware of?