Legal Question in Credit and Debt Law in Florida
Co-signed student loan
I co-signed a student loan for my 26 year old son. He is not making the payments which forces me to. Do I have any options to get him to pay me or the loan?
2 Answers from Attorneys
Re: Co-signed student loan
Yes. Even though you are the co-signer and legally resonsible, he is primarilly responsible and can be sued by you. If you would like to discuss this further, please call my office.
Re: Co-signed student loan
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Other than having a man to man talk, there is not much you can do unless you are willing to take legal action against him. If so, you can file suit against your son for damages in order to reimburse you for any monies paid to the lender. The question is whether or not you are ready to truly damage your son's credit history? If not, then there is not much you can do.
Scott R. Jay, Esq.