Sallie Mae Loans

Posted by EqualExtreme7876@reddit | studentloandefaulters | View on Reddit | 4 comments

I’m thinking about strategically defaulting on my sallie mae loans that are $107,000. I have a co signer (my mom) and she knows about the situation. The SOL in my state is 3 years, private lenders also cannot garnish wages in my state. I have no assets in my name other than a car, my mom has a car and house in her name but struggles to pay bills on both and is not in the slightest wealthy. Would lawyers be able or even want to perdue and lawsuit, especially with only 3 years time?

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Odd_Investigator_736@reddit

Defaulting with a cosigner who owns a home is playing with fire. You guys are not judgment proof by far with those assets you've named. You should really research your state's consumer laws to have an idea of what can or can not happen to you if you default.

Odd-Barnacle-1241@reddit

Let them take you or you both to court. Even if they win and gain a judgement against you it sounds like there are zero assets to take so they would still have to collect and sounds like they wouldn’t get anything

TWOscore11@reddit

What about the house? Couldn't they put a lien on it?

EqualExtreme7876@reddit (OP)

that’s what i was thinking