QUESTION

I like to know how I can get my name off of a student that I consigned and this person has defaulted on the loan. I am not working to pay her loan

Asked on Jul 26th, 2012 on Breach of Contract - New Jersey
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1 ANSWER

Elder Law Attorney serving Toms River, NJ
Partner at Diana L. Anderson
2 Awards
You need to look at the loan documents that you signed.  The whole idea of a co-signer is to have a second person that is responsible for repaying the loan if the first person defaults.  You will have the option of bringing a suit against the first person on the student load if they were the one that derived benefit from the loan (i.e. they were the one that attended school and incurred the cost).  You should also call the agency that provided the loan and tell them of the problem and assist them in collecting the repayment of the loan from the first person. 
Answered on Jul 27th, 2012 at 8:38 AM

Diana L. Anderson, Certified Elder Law Attorney This response is not legal advice and does not establish any form of attorney/client relationship

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