Legal Question in Credit and Debt Law in Massachusetts

Student loan co-signer

I was in a relationship for 4 years and cosigned for a student loan with my girlfriend. Immediately after graduating, she left me for another guy, and 8 months later got married. I just received a notice that her loan payment is past due. What can I do to get my name removed from this loan. We are looking at a 13 year re-payment plan, of which I want no part of risking my outstanding credit rating. In additon, a close friend of mine also co-signed a loan for her, and I told him I would not let him '' swing for it'' should it ever come to that. I'd like to get his name off that loan as well.


Asked on 5/08/03, 4:54 am

1 Answer from Attorneys
Robert Trant Law Office of Robert R. Trant

Re: Student loan co-signer

If you co-signed for the loan, you are obligated to repay if the original signer does not pay. You would need the permission of the lender to remove your name from the loan and not be obligated to pay. It is highly unlikely the lender will allow you out of the obligation of being a co-signer. The reason for the co-signer is so the lender will have another party to request payment from in the event the original signer does not pay. If you do have to pay due to the original signer not paying, you would be able to file a lawsuit against the original signer to recover any amount paid on her behalf.

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Answered on 5/08/03, 11:01 am


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