Legal Question in Credit and Debt Law in Illinois

Co-signed a loan

Is there any way to get out of

a loan that I co-signed?

The party I co-signed for is not paying the loan in a timely fashion. I am concerned

about my credit rating. Can anything be done?


Asked on 7/30/06, 7:15 pm

1 Answer from Attorneys
Thomas Moens Moens Law Offices, Chartered

Re: Co-signed a loan

Unfortunately, when you co-sign for a loan, you are fully obligated to repay the loan. Otherwise, there would not really be any point in having a co-signer from the lender's perspective.

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Answered on 7/31/06, 1:42 pm


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