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You can't legally collect on another individual.
You can however take them to court: You will need proof that the person took a loan from you, this can be a written and signed document or a verbal agreement with a third party witness. You can then take the person to a small claims court.
What else can I help you with?
Can you settle a defaulted student loan?
In the US, if the student loan is Federally Guaranteed then the answer is no. The Dept of Ed. and it's collection agencies will not negotiate or settle a debt. If the student loans are private, then the answer is yes. If you need help with your defaulted student loans, the company listed at the bottom of this text box can help you.
Can you sue the borrower if they defaulted on loan if im the cosignor?
Yes, you can sue the borrower and receive a judgment if they defaulted on the loan. They can also sue the cosigner.
Does ACS offer different repayment options for loan consolidation offers?
ACS limits the types of consolidated loans that are eligible for an Income Based Repayment (IBR) loan. Any consolidated loan that include a defaulted loan, a private or alternative education loan or Parent Plus loan, are excluded.
What are your rights in dealing with collection agencies for a defaulted student loan?
Your rights are extremely limited. If you have a specific question, please repost. The previous person who said that cannot collect after 3 years was completely incorrect; federal student loans have no statute of limitations whatsoever, and ED is still collecting on loans from the 1960s. Collectors of defaulted federal student loans will not negotiate, collectors of private student loans will negotiate.
How credit union collect bankruptcy loan that discharged?
If a loan from a credit union has been discharged in bankruptcy court, that credit union cannot collect and must write the loan off.
What is the benefit of getting defaulted loan off of credit report versus paying off defaulted loan?
ask an asian.
Can a cosigner on your college loan sue you?
Yes, if you defaulted on the loan.
Can you settle a defaulted student loan?
In the US, if the student loan is Federally Guaranteed then the answer is no. The Dept of Ed. and it's collection agencies will not negotiate or settle a debt. If the student loans are private, then the answer is yes. If you need help with your defaulted student loans, the company listed at the bottom of this text box can help you.
Can you sue the borrower if they defaulted on loan if im the cosignor?
Yes, you can sue the borrower and receive a judgment if they defaulted on the loan. They can also sue the cosigner.
Can a bank reposses a vehicle if the loan is not defaulted on?
No. Not unless some other clause in the contract has been breached.
What is a sentence with the word defaulted?
If you have defaulted on a loan in the past, your request for a second one may be denied.
Does ACS offer different repayment options for loan consolidation offers?
ACS limits the types of consolidated loans that are eligible for an Income Based Repayment (IBR) loan. Any consolidated loan that include a defaulted loan, a private or alternative education loan or Parent Plus loan, are excluded.
What do you do if you want to pay on defaulted loan?
Send in a payment.
What are your rights in dealing with collection agencies for a defaulted student loan?
Your rights are extremely limited. If you have a specific question, please repost. The previous person who said that cannot collect after 3 years was completely incorrect; federal student loans have no statute of limitations whatsoever, and ED is still collecting on loans from the 1960s. Collectors of defaulted federal student loans will not negotiate, collectors of private student loans will negotiate.
How do you get a loan without a cosignor?
I am in college my mom defaulted on bankruptcy how can I get a loan to go to school?
How credit union collect bankruptcy loan that discharged?
If a loan from a credit union has been discharged in bankruptcy court, that credit union cannot collect and must write the loan off.
If you catch up a defaulted loan can you get a another student loan?
In the US, yes you are eligible for additional student loans if you rehabilitate, bring current, or consolidate your defaulted federal loans. If you need help with the consolidation of your defaulted loans, click the link below.
