If I co-signed for my grandson’s student loan but it is not being paid on time, what actions can I take to make sure this is paid on time?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
If I co-signed for my grandson’s student loan but it is not being paid on time, what actions can I take to make sure this is paid on time?
He is in the Marines. Can his wages be garnished?He has money taken from his check each month and put in a checking account to pay this bill. His mother spends the money and does not pay the bill. Need to have this put in an account he mother cannot touch. How can I do this?
Asked on June 12, 2012 under Bankruptcy Law, Maryland
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
Since you co-signed for your grandson's student loan, you are also on the hook with the lender to make payments on the loan if he does not comply with the terms of the loan.
One way to make sure that your grandson pays on the loan is to have his wages deposited into an account that you have access to and where you make the loan's monthly payments for him. Otherwise if the loan is not being paid, you will soon be contacted by the lender for payment on it.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.