Legal Question in Civil Litigation in Michigan

Cosigner on student loan for brother who will not pay

Last year, I co-signed for a $10,000 student loan for my brother to participate in a 3-week construction/heavy equipment operation course. He is 20 years old and is currently employed, however, not in construction, but as a janitor. He completed the training from the school. The loan is currently in repayment status and has been for over 7 months. He agreed to pay this loan but has failed to pay every month. I have been forced to pay each month to prevent my credit from being affected. However, I cannot afford to continue to pay the loan. My brother makes enough money to pay the loan, but refuses. I have talked with and pleaded with him numerous times, to no avail. Is there something I can do to remove myself from the loan and to make him pay for his own loan? What resources are available?


Asked on 7/13/05, 10:44 pm

1 Answer from Attorneys
Blake Lipman Law Office of Blake P. Lipman

Re: Cosigner on student loan for brother who will not pay

I'm afraid that this is the risk of co-signing for someone. This is the exact reason the creditor wanted a co-signor. Obviously the creditor knew your brother was a credit risk and you did not. Short of bankruptcy, I see no way for you to be released from this obligation. You should encourage your brother to make the payments on time explaining to him that it is destroying your credit. Good luck!! For more info, please contact my office at (248)851-3171.

Read more
Answered on 7/14/05, 9:50 am


Related Questions & Answers

More General Civil Litigation questions and answers in Michigan