Legal Question in Credit and Debt Law in Washington
who should pay?
if someone co-signs on a loan, only because the parents of the person can't because of bankruptsy and the parents write a note promising to pay off the loan if anything happens and their son can't pay,then the son died and now no one wants to pay. who is liable?
Asked on 11/06/08, 12:55 am
2 Answers from Attorneys
Re: who should pay?
Co-signing means that the co-signer is a party to the note. I assume that the proceeds of the loan were disbursed to the son, so I assume that the co-signer is fully liable upon the note
Answered on 11/06/08, 7:23 pm
Re: who should pay?
Co-signing means that the co-signer is a party to the note. I assume that the proceeds of the loan were disbursed to the son, so I assume that the co-signer is fully liable upon the note
Answered on 11/06/08, 7:23 pm
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