Pretty much as it says. I have had no lukc finding a job to pay off one of my private student loans. The cosigner for one of my loans is handling one but the otehr has not doen a thing. So pretty much my family told me to just write a letter stating I cannot pay but will pay once I find a job. They keep telling me it will be fine and eventually they will start to go after my cosigner after it goes on my credit.
Personally I am not sure and was wondering if anyone knew anything about private loans. I have tried to get it deffered but the cosigner for one loan screwed up the application and other factors have prevented me from deffering. Pretty much the bank won't let me because one payment was late. I just feel like my family is wrong and my lif is ruined now.
Your life is ruined? Fuck that.
Some folks out there were nice enough to cosign for your loans and you are complaining about how one of them handled it. And now they must suffer for their good nature. It's your damn loan, you handle it.
Why can't you get a job at a chain store or fast food outlet?
For the rest of you, learn from the mistake this one's friends have made:
http://articles.moneycentral.msn.com/Banking/YourCreditRating/WhyYouShouldNeverCoSignALoan.aspx
I did not condemn them nowhere above did I say they must suffer for messing up the application. Okay you have no idea what I have experianced and to inform you I have looked I have applied everywhere even store outlets and fast food. I am handling the loan the best way I can okay.
> Okay you have no idea what I have experianced
Sorry, go ahead and explain
> I have looked I have applied everywhere even store outlets and fast food.
Link to your resume and cover letter (minus all personal information) and I'll offer you whatever advice I can
> They keep telling me it will be fine and eventually they will start to go after my cosigner after it goes on my credit.
They're most likely right, if that's all you want to know. But I'm sure that this will affect your credit rating for a long time. Generally the loaning party goes after whoever has the assets to repay the loan, whether than be you or the cosigner...
As for the bank loan I actually talked to some people who know more legal stuff and from what they told me I will be fine. besides if they sued me they would be wasting their time.
As for me trying I have basically pounded the pavement. followed leads. It has just been frustrating especially when you have a good interview and their like "Oh we really liked talking with you shake hands" then the next day "Oh sorry we picked someone else. Maybe Iam being a bit too dramatic since there are plenty of people worse of then me. Epecially in this economy.
As for the resume thanks for the offer but I feel a little wary posting stuff like that here even with the personal stuff taken off. However I have recently applied for classes that offer training in job search tecniques and build my skills such as resume wriitng. Personally I think I need the training.
Now that I read my first pot I think I may have worded that bit about the cosigner a bit better. I was just repeating what others have told me would probably happen. My cosigners are trying their best as well. I am jsut goign to try these classes out and if the laon does deault I will work with the bank to resolve this. Thank you.
Most loan companies will work with you, if you can prove you're looking for a job. Alternatively, you can apply for extensions. Just give them a call and tell them what's up. It won't be any story they haven't heard five times already that day, with the economy in the shape it's in (I'm assuming you're American, sorry if I'm wrong). If they're not chasing you down yet, nothing bad will come of calling them. You might even be able to file an extension!