Legal Question in Credit and Debt Law in Illinois
Student Loan contract
My girlfriend and I signed for a student loan. I am the cosigner, she has fallen way behind on payments and lender is calling me for the funds. How can I protect myself and at the same time get her to pay back the loan?
1 Answer from Attorneys
Re: Student Loan contract
You are on the hook, there isn't a whole lot you can do about it. Student loans are non-dischargeable, and I believe that applies to co-signers as well as the student, so you are on the hook as well as her. Does your girlfriend have the money to pay her loan? Why hasn't she gotten a deferment? It's tough to answer your question aside from saying you are on the hook because you co-signed and the creditor is going to treat a co-signer as equally liable. That is why they got you to sign as a co-signer.
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