Legal Question in Credit and Debt Law in Arizona

I have a friend that wants me to cosign on a student loan. Is there some sort of legal document that we can sign that would absolve me of all responsibility for the debt in the event that he defaults on the loan?


Asked on 8/16/10, 1:00 pm

1 Answer from Attorneys
Debra Palomino PALOMINO LAW FIRM, P.C.

Once you co-sign, you become liable for the debt if your friend defaults, and the creditor may not be required to take action against your friend before collecting from you.

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Answered on 8/25/10, 12:36 pm


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