Tag: co-signer

Co-Signed Student Loan Nightmare: A Parent’s Dilemma
February 20, 2024 Off

Co-Signed Student Loan Nightmare: A Parent’s Dilemma

By The Admiral Staff

A parent co-signed a student loan for their 18-year-old daughter who then dropped out of college and now has $20,000 in debt. The parent, living on Social Security Disability, is concerned about being held responsible for the loan payments. The advice given is that the parent will likely be liable as a co-signer, particularly since these are likely private loans. Suing the daughter is discouraged due to her lack of funds. Instead, the parent should

Rebuild Your Credit: 5 Strategies After Repeated Rejections
December 13, 2023 Off

Rebuild Your Credit: 5 Strategies After Repeated Rejections

By The Admiral Staff

If you’re struggling to build credit due to past issues or lack of history, it’s possible to improve your standing. First, review your credit reports for errors and dispute any inaccuracies. Then, consider these strategies: open a secured credit card (using a small deposit as your credit limit), obtain a credit builder loan (where payments build credit before you receive the funds), utilize a rent reporting service, find a co-signer with good credit, or become an authorized user on someone else’