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Company Loan Type APR Est. Pmt.

Student loan and house lien

Posted on: 31st Dec, 2011 10:15 pm
Can student loan sue my cosigner/ put a lien on their house or property? He did not offer it as collateral but he does own it outright and im worried they will go after it. I am trying to settle payment arrangements.
Hi Lavonda,

If you cannot pay off your student loan on time, then the lender will contact the co-signer and try to recover the debts in full. If the lender gets a judgment against the co-signer, then he will be able to place a lien on his/her property.

Thanks
Posted on: 01st Jan, 2012 08:45 pm
hello lavonda,

If the person who borrowed the money owns a home and if the creditor sues in court for default and obtains a judgment lien.




:idea:
Posted on: 01st Jan, 2012 09:41 pm
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