i signed 3 private student loans for my adult dau

i signed 3 private student loans for my adult daughter. she has defaulted and the loans have gone to collections. i was in mid 60s a working nurse and felt it was something i could do. i was diagnosed with breast cancer /surg/chemo !! then jan 2008 had neck surgery the instrument slipped and i am now an incomplete quadreplegic, total disabled. i am unable to pay, my husband has end stage liver disease plus he didnt know i signed he was in navy in okinawa. help

4 Answers

Sorry to hear about the condition you are in. But, as you are in such a complex situation and you can do nothing about it, there is only thing that you can do. You will have to ask your daughter to pay off this debt. However, can you please let us know when the last payments were made?

Really sorry to hear about your present state! :( Yes, debts are something that are keeping you worried but since your daughter has defaulted on the loans, you should ask her to take the required steps to get out of debt. Tell her to contact the private student loan lender so that she can help you enter into a hardship plan to repay your debts with ease. Remember that her creidt score is of utmost importance as most employers check the score nowadays.

Are you the co-signer on the loan? If yes, then you're equally responsible for the loan. But at the present condition, I don't feel that it will be possible for you to pay off the debt. In such a situation, you should ask your daughter to pay off the student loans asap. 

It is your daughter who now needs to take the initiative in order to pay off the debts. As they are student loans and have been sent to collections, she will have to contact the collection agency and try to set up a payment plan on your behalf with them in order to pay it off.

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