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My Private Student Loan in Default from Co-Signer Bankruptcy

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  • 11-15-2008, 11:24 AM
    brans
    My Private Student Loan in Default from Co-Signer Bankruptcy
    My question involves bankruptcy in the state of: Texas

    My co-signer for a couple of my private CitiAssist student loans filed chapter 13 bankruptcy in Texas which immediately put my student loans in default. Citibank was paid on them by the insurer and now the insurer is using a collection agency to collect on the debt from me in full. The first notice I was given about any of this was a collection agent calling me telling me I owe the full amount of my loan which is 16,500. I have no idea what to do. I have never missed a payment and have impeccable credit. I have talked to my co-signer's bankruptcy lawyer who has said that in her 22 years of practice she has never seen this happen before. She advised me to go ahead and give the collection agent my financial information and see what they come back with. Any advice on the matter would be greatly appreciated.
  • 11-17-2008, 10:45 AM
    dad1
    Re: My Private Student Loan in Default from Co-Signer Bankruptcy
    I'm on the other side of this. I had to file chapt 13 so my daughters loan went into default even though she's still in school. They offered me a plan to get the loan clear of default and back on track. I made the 5 payments they ask for but they then came back and said teri had filed bkrptcy and that the program was no longer available. Teri had filed bkrptcy 3 months prior to our arrangements. It's ironic they stopped the plan as I made the last payment. I too am trying to find out my choices. It's obvious I can't get 16k to pay off loan due to credit and economy toward any home loans.
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