Legal Question in Credit and Debt Law in North Carolina

I co-signed on a student loan. Wondering if there is any way I could be removed as a co-signer? Is there any way? What if I am replaced by another co-signer?


Asked on 7/21/10, 8:29 am

1 Answer from Attorneys
Rachel Hunter

Never ever co-sign for any loan, let alone a student loan. Can you be removed? It depends. It depends on who you co-signed for - have they faithfully been paying on their debts? Or are they still in school? Will the lender allow a substitution of parties? They may still want a co-signer. And the co-signer will have to be acceptable to them.

I would get the borrower and lender together and have a three-way conversation to see if substitution is feasible.

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Answered on 7/21/10, 7:57 pm


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