CFPB Discovers Private Student Loan Borrowers Face a€?Auto-Defaulta€? When Co-Signer Dies or Stretches Bankrupt
ARIZONA, D.C. a€“ now the buyer Financial Protection agency (CFPB) Student Loan Ombudsman introduced a study highlighting grievances of a€?auto-defaultsa€? in exclusive beginner lending. Consumers report that some loan providers demand immediate full payment upon the passing or bankruptcy of their loan co-signer, even if the borrowed funds are existing and being paid promptly. Continue Reading
