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Posted in Student Loans
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Question By
Samilou22

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co signer issues
About 10 years ago I stupidly got a private student loan. My father co-signed. A few years ago he filed for bankruptcy which means that I some how did too (on that loan) just because he was my co-signer. The loan went into collections despite that I was always making payments. My father recently died and i am wondering what happens with that loan? I do not see it on my report but I'm sure it's out there waiting for me collecting interest. Any ideas on what I can do?

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Loans do not go to collections when making your payments on time, so I have no idea where you are getting that or who you are trying to BS here. If the loan became delinquent more than seven years ago, then that is why you do not see it on your reports. Most negative information will only remain on credit reports for seven years. Check the Statute Of Limitations to be sued for debt in your state, most likely the SOL has expired on this debt, but check to be sure. All in all, you probably do not have to do anything. If anyone ever contacts you about this debt send them a "cease & desist letter" telling them to not contact you about the debt if it is outside the SOL to be sued for in your state. In the meantime, start reading as much as you can about credit.

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