Can a loan institution suspend CDL?

What if you cosigned for some one to get their CDLS and he then quit the asigned job now they want the cosigner to Pay off the debt even if u dont have anythng un writting saying u signed up for that. Because i got denied Because i have less credit but they then accepted him and now is hassling me about payments

 

No.

Only the state can suspend it within a situation like too many points.

It CAN be taken from you for non payment of child support etc. And Federal Debts.

 

Starter company, finished employee. All gone. Bye bye. That's good. Next. //sarcasm.

 

NO

 

If you cosigned then you are both responsible for making sure the debt is paid. That is what cosigning is all about. This is why you have to be careful about who you cosign for.

 

I am going to quote my own comment. I said NO and I still mean NO. However I don't think it is right for someone to sign a contract get the school then the CDL work for a few months then (just) walk away. I honestly think there should be a way to revoke a CDL when this is done. I know there are horrible places that call themselves trucking company's. However nobody held a gun to your head forcing you to sign that contract. Do that year, then walk. Anything else is not right.

 

Good thing slavery is no longer legal. Well indentured servitude anyway.
See, there is a reason these contracts have two repayment options. Working for peanuts is only one of them.

 

A driver's license is a right, not a privilege. The supreme court ruled that states may only revoke/suspend, or not issue a license, if they find that the person is unsafe to drive. While some states do try and suspended the license of those how don't pay child support, there are cases where people have fought those rulings and won.

 

Please note the original post was over 7 years ago.

 

This is not about slavery. Never has been never will be. It is about living up to the terms of an agreement you willfully signed. Once that term of time is up your through it. I do agree that the schools and the parent carriers should do a better job when it comes to spelling out what to expect after school is over. Still like I said nobody held a gun to your head forcing you to sign. In just about every other situation where something tangible is gained through a promissory note and the terms not fulfilled the lending company takes it back. I just think in this situation they should be allowed to have the CDL revoked. Makes that decision to leave a bit harder to make now I would think.