AboutBobbi Buehl Expertise Home mortgages is my expertise
Experience Experience in the area 15 years Organizations Mortgage Brokerage Education/Credentials BS in Chemical Engineering, BA in Sales and Marketing. Licensed Loan Officer for 6 years and I have worked as a Loan Officer for 15 years.
Question I filed for bankruptcy in September 2006. It has been 2 years now. I need to know what my chances are in getting approved to co-sign on a college loan for my daughter. She is currently attending the University of Florida. She needs about 15,000. I was told I need to wait 2 years and 1 month after it has been discharged to be able to do anything. I am in a much better situation now financially. I make about 42,000 a year my husband and I just bought a home (under his name). I really don't have anything under my name besides 1 credit card with a limit of 500. which I rarely use and my phone. I am scared to cosign as I don't want a rejection and the possiblity of it lowering my credit rating. When our mortgage ran our credit, my credit score was better than my husbands but I couldn't apply for the home loan becuase it had not been two years since my discharge. I would appreciate your thoughts and expertise.
Answer Hello Liz,
I don't know the answer to co-signing for your Daughter's student loan, but I would think you have a good chance because it's a Government loan and they are open to financing you after 2 years of on time payments after a bankruptcy.
My real question would be this; why doesn't your Daughter apply for the loan? I would think she shouldn't have a problem getting one herself.
Hope that helps somewhat, and you can always call the bank and ask them what the probability of youself getting a loan after bankruptcy, before you apply.
