I am the consigned on mg granddaughter's student loans and have paid while she was in school for almost 5 years and fully paid for 2 years fully on her loans until losing my job, and now have entered into an agreement to pay 116.84 a month forever and they are still calling me on 2 other loans. She has never paid a,dime even though she works and I do not at this time. I am 63 years old and my husband and I have a one year old daughter to raise. I am unemployed and live on my husband's income who is not on the loans. My credit has suffered and my health is beginning to be affected. I want to know if I can be removed as the consigner and get these calls to stop
You should discuss with a Connecticut attorney, and I am not admitted in Connecticut.
However, you may be able to use Do Not Call laws, to stop calls:
And you may be able to file a complaint for harassing phone calls from a creditor:
You could also, theoretically, sue your granddaughter for the student loan amounts you have paid if she is the primary, or perhaps better discuss with her that she needs to pay the loan.
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The bad news is that you can not unilaterally remove yourself as a guarantor on these student loans. Even if you filed for bankruptcy, 98 percent of all student loan related debt is not dischargeable in bankruptcy so that is not a solution. The good news is that if your are drawing a pension check each month or social security, then they can not garnish these funds.
The other good news is that you can stop embarrassing and harassing calls from the debt collectors seeking to collect on the other two (2) student loans that you co-signed. You have rights even as a co-guarantor on a defaulted loan, and a good consumer rights attorney can help you to sue to enforce these rights and/or send letters to demand that the harassment cease. Assuming it is not the creditors themselves that are calling you on the other two loans (which would makes the analysis more complex), under the Fair Debt Collection Practices Act these debt collectors can only call you after 8am and before 9pm and they can only call no more than 8 times a day. There are also many other rules that they must follow. You can also send the debt collector a “cease communication” letter whereby you inform the debt collector that they may no longer contract you – in which case they will send you one final letter acknowledging your request.
I strongly recommend you speak with a experienced debt collections defense attorney in your city to fully protect yourself and your husband's assets.
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