crash5050 Posted March 21, 2012 Report Share Posted March 21, 2012 I just recieved some paperwork from Weltman, Weinberg, and Reise Co., LPA regarding a student loan for my daughter, that she has not had the means to pay back. It seems that Charter One is not a government subsidized lender, so there was no backing from the Government on this loan, it was just a loan. Go figure. It was a GATE loan provided by Charter one, haha they can go pound sand. David Link to comment Share on other sites More sharing options...
StudLoanGuru Posted March 22, 2012 Report Share Posted March 22, 2012 Be careful with those private loans. If you are receiving a letter from this law firm then you are probably a cosigner on the loan which would make you just as liable for the debt as your daughter. Usually by the time a law firm is involved it is because the lender intends to litigate the account.Litigation is no picnic. If it determined you have assets, like a new Dodge Ram or a house, they can seize your assets and/or get a court ordered wage garnishment.It is always better to pay back debts rather than run from them, especially in the student loan world. There are just too many consequences that could really end up hurting you one way or another. Link to comment Share on other sites More sharing options...
mandidad Posted May 21, 2012 Report Share Posted May 21, 2012 are student loans from Charter One Bank Government subsidized? my Daughter open a Loan in 2007, and now an attorney is threatening to sue. I understand if it is a private non-subsidized loan than bankruptcy is an option?> Link to comment Share on other sites More sharing options...
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