Hope44

Hello,

I was wondering if anyone has been through a similar situation as this and if so, can you offer any encouragement or advice? Two years ago our daughter went to Hawaii to pursue her long-time dream of becoming a marine biologist. She came home, nine months later, a drug addict. She is now finishing up her second to last semester of college (living at home but not for much longer as we have told her she needs to find somewhere else to live by June 1st). The situation is this: here is/was a very bright girl who I highly doubt will be able to even BEGIN to pay off her school loans because the majority of her money is being spent on drugs. Since my husband cosigned her loans (this was back when she was clean and free and had all the world at her doorstep), we fear we will be stuck paying them, which means we will probably need to sell our home, etc. I don't even know anymore if she would think twice about dumping this on us. It seems so unfair, to us, to our sons who for all the grief they do NOT give us, suffer for her bad choices, AND to her. Her future was so bright. Like another poster to this forum had written... I have no hope left for her, but every hope in God to carry her (and all of us) through this.

CrackQuack

Unfortunately, the best thing to do, when the time comes, if she still has not gotten her life back on track, is to take her to court and sue her. When they come after your husband for the money, take her to small claims. I usually don't advocate suing family, but IF she hasn't gotten her junk together, maybe going to court will wake her up, or maybe not. Either way, start consulting an attorney now to see what can be done/avoided when the loans come due. Start keeping records and track of everything she does. This way it can be proven she is an addict, out of control, and not being responsible. Sometimes, tough love goes a long way. I am sorry you have to go through this.

86753091

There is a way to defer payment on a student loan. Put payment off to a later date. Check with "a" bank - not the one you got the loans from. This will give you the knowlwdge you need to work with your bank. I worked with people's credit reports for many years and there are always any number of deferred student loans showing up. I just don't know what the criteria is to get them deferred.

CB

SisOfAnAddict

I agree with the deferment idea. If you can't make the payments there is a way to defer them or lower the monthly bill. They want their money back and are usually willing to find ways to help you pay it back.

Carol Star

She needs the consequence of her actions. They say not to stop the bad stuff from happening to them, but you do have to protect yourself. This is a tough one.

JMFburns

Hope,

I'm sorry for your circumstances.

You could check into filing bankruptcy - I don't know if you can include student loans - and them reaffirm your own debts that you do want to pay (house, cars, credit cards, whatever is in your name only.) Will it be a bump in the road to your credit, yes. But not as damaging as having to sell your house to pay your daughters student loans.

Again, I'm sorry and hope that you are able to investigate some of the suggestions here and find something that works for you. Most lawyers will meet with you for an initial 30 minute appt. for free.