Legal Question in Family Law in New Jersey

My husband co-signed a student loan for his son from a previous marriage. His son just simply stopped paying it three months ago. They had words on the phone after my husband questioned his son as to why he's no longer paying for it, and his son hung up on him. We have been paying the payments, plus the late payments for two months now and his good credit that he had, is gone now, due to the fact that the payments that his son was making in the past, were just late payments. The loan is from Iowa Student loan and we live in New Jersey. What can we possibly to do rid ourselves of this loan payment. My husband has been laid off from his job twice now,, and this is an incredible hardship for us. I work fulltime. And his son is planning a wedding for next October, so he's coming up for the money for that, but not his loan, What are our legal rights, if any?


Asked on 10/20/09, 8:33 am

1 Answer from Attorneys
Robert Gleaner Robert A. Gleaner, P.C.

Your husband is obligated to pay the loan. That is what happens when you co-sign on a loan and the primary obligor defaults. His son has an obligation to repay him. Your husband can file a suit against the son and obtain a judgment, and hopefully obtain repayment from him.

Keep in mind that this advice is given based on the little bit of information that you have provided in your question. My advice may change based on other information. Further, no one can rely on advice from an attorney who has not been retained. You cannot rely on this advice because we have not personally met and you have not retained me as an attorney. If you have not already done so, you should immediately meet with an attorney for a full consultation before you take any further steps. You may feel free to call me to discuss this matter in more detail. If you do so, mention Law Guru and your first one hour of time will be free. Good luck! Rob Gleaner

Read more
Answered on 10/25/09, 9:39 am


Related Questions & Answers

More Family Law, Divorce, Child Custody and Adoption questions and answers in New Jersey