Legal Question in Credit and Debt Law in Minnesota

Co-sign

I co-signed for someone's student loans and for his vehicle. He is now defaulting on the loans as retaliation for me kicking him out of the house. I now have the student loan company calling me asking for repayment. Is there anything that can be done about this or am I pretty much out of luck?


Asked on 3/19/07, 5:26 pm

1 Answer from Attorneys
David Anderson Anderson Business Law LLC

Re: Co-sign

When you signed you agreed to pay if the primary borrower defaults, dies or disappears. I would have to review the contracts, but I am fairly sure that the Non-dischargeability of Student Loans follows through to the co-signer.

THey may negotiate however, depending on your debt/income status.

Call or email for assistance.

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Answered on 3/19/07, 5:30 pm


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