Legal Question in Credit and Debt Law in New York
Can a lawyer help to take a cosigner off a school loan. My dad wants to be out, my loans are at default right now, I started paying but he has plans on buying a house and needs to get out of my loan. What can I do? Any advice?
Asked on 11/08/10, 12:55 pm
1 Answer from Attorneys
Paula McGill
Attorney at Law
The lender has to agree to remove your father off the loan. Financial institutions won't agree to do that unless the primary obligor has the credit and repayment ability to repay the loan. Another way to remove the father from the loan is to obtain financing through another institution to repay the loan.
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Answered on 11/13/10, 2:14 pm
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