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Saturday, December 22, 2012

Bankruptcy Finally Ends Father’s 4-Year Struggle To Repay Dead Son’s Student Loan

Back in June, we told you about the California man who had spent years trying to sort out his late son’s student loans, only to keep running into dead ends and and roadblocks. Now, after four years of struggling to figure out how much is owed and to whom, he’s finally getting some relief.
ProPublica provides an update on the father, who earns around $21,000 a year in his job as a gardener.

When his son died only a few months after graduating college in 2008, the small amount of federal aid he’d received was discharged. But since the dad had cosigned on the remaining private loans, he was on the hook if the private lenders opted to keep the debt alive, which they did.

3 comments:

Anonymous said...

Why is this even news? Read the article...don't cosign a loan if you can't or won't pay it back. Duh.

Anonymous said...

Bankruptcy saved my credit rating and my home! I hated to do it, but I just had no other choices. Life situations change, and in this case, it did in a horrible manner. We all need to keep going in life, and this allows one to work his way back up the ladder.

Sacramento Bankruptcy Attorney said...

This is disgusting the loans and the debts should be cancelled by all parties upon his son's death - that these vultures are allowed to chase the father for the repayments without telling him how much he owes and who to just shows the depths of depravity a society can allow some of its 'institutions' to fall to - shameful.