Legal Question in Credit and Debt Law in New Jersey

co-signer on a rental lease agreement

What is a co-signer liable for and for how long? Our son was evicted from his apartment last fall and he can only get another if he has a co-signer (he said). We are retired, own our home and have good credit. His credit is bad and he owed two months rent on his last apartment. He has a steady job.


Asked on 10/28/07, 8:34 pm

2 Answers from Attorneys
John Corbett Corbett Law Firm LLC

Re: co-signer on a rental lease agreement

A cosigner is liable for everything if the primary obligor defaults. There is no time limit.

I have had some luck with negotiating limitations on such agreements. If I can be of further help to you, call or email.

See also: http://info.corbettlaw.net/lawguru.htm

Read more
Answered on 10/28/07, 8:46 pm
Robert Davies The Davies Law Firm, P.A.

Re: co-signer on a rental lease agreement

Please, take the advice of an attorney for 24 years, and father of four older kids: DO NOT SIGN ON HIS LEASE. He will without any doubt, 'screw up' again, and you will get hurt. He needs to grow up, he needs to pay his own rent (share an apartment if he can not afford it on his own). And he needs to NOT damage you as he learns.

I am most sincere in this advice. Love him, but don't cosign his lease.

Read more
Answered on 10/29/07, 11:07 am


Related Questions & Answers

More Credit, Debt and Collections Law questions and answers in New Jersey