I am a co-signer on my daughter's private college loans. My daughter has not been able to find a job and her loans are now overdue by one week and the bank is calling me constantly. I have lost income myself over the last year and cannot pay the $620 owed per month. The bank won't give her more time, lower her payment amount, or consolidate the loans with lower payments. What can I do?

Co-signing on those private student loans is no different than if you were to have co-signed on a car or any other loan with your daughter. As a bankruptcy lawyer I consider it to be a part of our job to also let people know when, if at all, they should file bankruptcy. You shouldn't file bankruptcy, at least not yet. The main reason I'm comfortable saying this is because your daughter is only past due on the debts by a week. The creditors for this loan are like any other creditors. Shortly after a payment is due is when they will harass you the most. During this time they are also the least likely to work with you. I would suggest that you explain the situation to the creditor (you may have already done this). After doing so they will still continue to call you but I would limit your exposure to those calls. However, your daughter should pay all that she can towards those student loans. If your daughter's financial situation doesn't improve, after some time has passed the creditor will realize that your daughter truly cannot afford the payments. At that time, they may be willing to work with her to set up a suitable payment plan. However, you want to be certain that they do not file suit against you. If you believe that they are going to file suit against you then you will want to at least contact a bankruptcy lawyer in your area to discuss your specific situation. At that time, based upon your situation as a whole, it may make sense to file bankruptcy to protect yourself from any liability for those private student loan debts. Terry Duncan North Carolina Bankruptcy Lawyer