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MastiffStanley

Release Disabled Cosigner of Private Student Loan

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In 2005, my father co-signed my private loan for 1L year of law school and he is now in assisted living without control over his money.

 

My father is now 75, disabled physically and has a dementia diagnosis. Navient continues to send him computer generated letters, even after the account was brought up to date recently. They also call him when I am less than five days late. (They have a long history of calling him without calling me first.) He is probably not currently permitted to enter into any legal agreements due to his disability. He gets very emotionally upset each time Navient harasses him.

 

Can he be released as cosigner due to his permanent disabilities? Can another person be named cosigner? He cannot wait 12 months to be released.

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He gets very emotionally upset each time Navient harasses him.

 

 

 

Then get him a new phone number and don't give it out.

 

 

In 2005, my father co-signed my private loan for 1L year of law school and he is now in assisted living

 

Arrange to have his mail monitored for any correspondence from Navient and have it sent to you.

 

 

 

Can he be released as cosigner due to his permanent disabilities? Can another person be named cosigner?

 

That's up to Navient.

 

Though I can't imagine what kind of success you'll have getting anybody else to guarantee your performance given your financial difficulties.

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Warning: Legal issues are complicated. Explanations and comments here are simplified and might not fully explain the ramifications of your particular issue. I am not a lawyer. I do not give legal advice. I make comments based on my knowledge and experience. I guarantee nothing. If you act on my comments without the advice of an attorney, you do so at your own risk. 

 

Thanks for the disclaimer. I'm sorry you felt qualified to respond.

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Can he be released as cosigner due to his permanent disabilities? Can another person be named cosigner?

 

You can request that the lender do these things, but it has no obligation to do either of them.

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He is the co-signer. I presume the loan is actually in your name. the best way to make sure Dad isn't bothered is to pay the loan on time yourself. If you can not afford to do so, talk to them about modifying the terms or refinancing the loan. Complaining that the creditor is "bothering" the person who legally is responsible when payments are not made or are late is a non-starter.

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Your advisory that no one need reply again aside (this thread may be of interest to someone else).  Just because you (apparently) didn't receive the feedback you're seeking in the manner you wanted it (that someone does not tell you what you want to hear and/or has a delivery method not of a variety that pleases you) doesn't mean you're entitled to take offense. 

 

"He cannot wait 12 months to be released."

It's unclear what you intend to convey here.  If your father is in assisted living "without control over his money", this implies that he is legally incompetent. That may not yet be so, but ... Whether or not the situation pertains because he signed a durable power of attorney (and presumably also a living will as to health care matters, etc.) before he was incapacitated, why does the relevant party not ensure that he no longer receives phone calls at this place?  And why would he still receive related mail v. have the assisted living folks give such mail to whomever else? 

 

Also, why would he receive telephone calls at the assisted living place?  (Why would anyone hand that number out to them?)  Did he give someone a cell phone number, perhaps?

 

Whether or not he has control over his money isn't something the lender/creditor needs to worry about.  If someone's not operating under a durable power of attorney pre-dating his situation yet he no longer has control over his money or any other affairs (his personal situation, where he's living, etc.), is this a scenario where someone has been appointed his conservator?  I don't get that impression, but perhaps so.

 

Regardless of operation by DPOA or other, were I the party taking control over his finances, I'd write to the lender (legal dept) with (as/where available) certified copies of DPOA or whatever court order appoints me conservator and lay out his situation and point out that I'm the one who receives X.  (It won't make lender stop sending the notifications; whether or not your father's competent, his estate is a party to the issue as he is co-borrower or guarantor.)

 

"Can he be released as cosigner due to his permanent disabilities?"

 

COULD it happen?  Yes.  Will the lender do it?  Should someone step up to take his place.  I don't see lender agreeing the co-borrower or guarantor component.

 

 

 

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Excuse me... Newbie here! That doesn't mean I don't understand some things about student loan debt. At no time did you say whether Navient was the lender, or a collection agency. That missing piece of information means a lot in no matter what your subject you are discussing hen it comes to debt. This is onetime, when it would be wise to know if they are the original Lender, or a collection agency. Under the Fair Debt  laws, the knowledge of whether or not  Navient is a lender, or a collector means a world of difference. Although this is an interesting site to view what people believe. I have found, as a Legal Shield Member and Associate, I get much better information from my Legal Shield law firm on all questions. I would strongly urge MastiffStanley to contact a real attorney for answers to his questions. this is one time where knowing , where there is a staff around in case help is needed by the patient. the law is as well as how the law may be applied, happens to be a much needed necessity for a reliable answer to this question. There are over 85 different areas of the practice of law in the United States, as well as 50 States in which laws may be slightly different. If the gentleman is living on his own, which is the norm for people in assisted living, I worry about a possible Diagnosis of dementia, or even the onset of Dementia..

 

I also have to admit, the rudeness aside, MastiffStanley certainly did not make things easy. As I said before he needs a real attorney. he also needs to state he FACTS regarding his father. Possibly and may not and might do not help to get anyone to give a serious answer. Based on the framing of the question, I am left with no choice except but believing that MatiffStanley is attempting to get assistance by finding someone to agree so he may have support when he says "my father is in assisted living, may (or may not have dementia) may or may not have control of his money. IF there is an active diagnosis of Dementia, Dad shouldn't have control of his money. There had better be a Living Will and Durable Medical Medical Power of Attorney. It will be interesting to see what MastiffStanley says, he has alluded to the issues in his messages, yet he has not once given a definitive answer.

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