I made a huge mistake of co-signing with a grandson many years ago. Unfortunately, he does not know how to spell responsibility and has been forcing me to make
occasional payents to ease the pressure for non payment (Originally financed thru Sallie Mae and being handled by Naviant. I am now 83 have gone through pretty much all my assess and living primarily on Social Security. Once again he is way behind on his payments and I am getting the pressure.
Any thoughts I what I might be able to do – I know I am legally bound as a co-signer.
May 3, 2014
Unfortunately, if you cannot get your grandson to pay, you will likely be responsible for the debt.
Normally we suggest seeking a cosigner release or trying to get your grandson to refinance the loan without a cosigner, but at the point the loan is delinquent, these options are likely off the table.
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