Legal Question in Credit and Debt Law in Illinois

Co-signed on a student loan.

I co-signed on a loan for a friend. I didn't find out until a week ago that she as been late with some payments that might (or have already did) affect my credit. Is there any way that I could pay off the loan and then go after her for money spent? Or is this one of those ''lessons learned'' things?


Asked on 2/10/08, 6:34 pm

1 Answer from Attorneys
Thomas Moens Moens Law Offices, Chartered

Re: Co-signed on a student loan.

As between you and the lender, you are responsible for the debt. If you are compelled to pay it, you may be able to sue the other person to try to recover the money, but you may have a tough time collecting.

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Answered on 2/20/08, 10:08 am


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