My Mother co-signed on my younger brothers student loans that have a balance of around 70k. He could no longer pay them, so the loan company came after my mother as the co-signer. She cannot afford the 500/mth payment but has done so to keep them out of default and getting her check garnished. In less than a year she will retire and will have SSI and little retirement and will no longer be able to afford these payments for my brother. She will lose her home or car if she has to pay her sons student loans.
Will they garnish her SSI payment and retirement? Does she have any options to get out of paying for these and making my brother solely responsible? What should be her course of action?
Other Info: The payment has already been decreased, most of these loans are federal loans, with i think 20k being private.
Will they garnish her SSI payment and retirement? Does she have any options to get out of paying for these and making my brother solely responsible? What should be her course of action?
Other Info: The payment has already been decreased, most of these loans are federal loans, with i think 20k being private.
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