QUESTION
My husband got a personal loan which I cosigned on. We were and still are separated. Can he and the lender modify the loan without my consent?
Asked on Dec 10th, 2020 on Breach of Contract - Florida
More details to this question:
My husband needed money to pay for his Mother's funeral about 8 years ago. We were amicably separated and still are. I agreed to cosign for the loan because his credit wasn't good at the time. About 4 years later, he was having trouble making the payments, so he asked the lender to modify the loan and they did, and in doing so lowered his payments. I was never contacted by the lender about the modification and never asked to sign any new paperwork and never gave my permission to modify the loan. The original loan was for $13,000, he now owes $5,000. I was just served papers today saying I had to attend a pre-trial zoom meeting with attorney's for the loan company for non-payment of the remaining $5,000. I wanted to know if I am still legally obligated to repay this loan since it was modified without notifying me or my consent or signature on any paperwork.
1 ANSWER
Consumer Debt Collector Harassment & Abuse Attorney serving Tampa, FL
Partner at
Tischhauser Law Group
2 Awards
Starting point is yes - but who knows until they get ALL the facts. That stated, it will likely cost you more than $5000 to battle it out in court, so its a rock and a hard place. Poor choice made being a co-signor for future reference.
Answered on Dec 22nd, 2020 at 2:00 PM
All responses are NOT to be considered legal advice nor to be relied upon in any as such nor to establish any form of attorney/client relationship. Opinions expressed are solely informational and not a substitute for proper legal advice provided by a properly retained after thoroughly researching the issues presented.