Legal Question in Credit and Debt Law in Illinois

Re: cosigner

Well if your name is on the loan, then you are obligated to pay. If you feel there was some deception that got your name on the loan, you may have some recourse, but generally you are responsible if your name is on the paper.

One thing you might do is call the lender and explain that you were not aware that you were a primary. If you had known, you would have made the payments before things got so far behind and that you will make sure payments are current from now forward. If you agree to pay the past due amounts and get the payments current, the bank might be willing to repair any damage that has been done to your credit.