Student Loan Co-signer and BK

[mijd]

I'm sure this questions may have been asked before, so please forgive me in advance. Like an idiot I co-signed on a student loan for my nephew two years ago. He has been in the repayment mode now for almost a year. I understand the SL is not dischargeable but it was listed on my BK.
I'm curious to know if anyone has been in a similar dumb situation as mine.....if the payments stay current from the start of the loan will this help me to rebuild my credit? I realize I'm just a co-signer but I'm legally obligated to pay on this loan if my nephew does not.
Thanks in advance for any replies.

[debee]

I don't the answer to your question, but we're in a similar boat: we cosigned a student loan for a friend's son. He's still in school though and will be for another few years. I don't know if it was stupid of us or you, really. Sometimes people need to help each other and take risks. I don't know what the world would be like if people didn't do that now and then. You did a good deed. Kindness is inspirational. I'm glad there are aunts like you in the world.

[mijd]

Debee, Thanks for the inspiration. The one good saving grace of all this is as long as he is current (and I will make sure he is) this will help out my credit score. He is struggling to find work after school and hasn't found one in the field for which he studied. On the other hand he can't seem to keep track of when these payments are due. In the course of my bankruptcy, I received more calls for payment from his student loan than I did from all my creditors.

*LOL Debee, I'm an Uncle... My user name is inverted (Jim D.) LOL, I get that a lot, have to start thinking of a better one.

[AngelinaCatHub]

My own grandfather would not sign for a car for me. (he remembered the depression era). I now see why as I signed for a car for a "friend". He bellied up and of course the timing was right, I bked for other reasons. I got off on that but he got sued.

Unless it was money I would "willingly" lose, I would not sign for anyone. It is like a loaned book. You call a loaned book a "gift". 'Hub

[debee]

One of my uncles wrote me a big check when I was a student. I still have a photocopy of it. It made me want to help someone else. I know the experts say it's stupid to cosign, but I'm still glad we did it. Maybe that makes me doubly stupid.

Jim - maybe you could just create a signature to clarify your gender. "I'm a man, dammit! I'm a man!"