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Me and my dad have tooken private student loans, and he is the cosigner. ( all with his knowledge and everything, the companies send him a monthly interest statement, for the past 5 years) but when I told them I am pursuing a different career and not completing the University he got mad. He said he's going to tell them that he didn't know nothing about the loans and that I signed everything in his name without his permission. But he's only saying this now because he's mad. Is this fraud for him to do? will I get in trouble? Because he had complete knowledge and the last five years he's been getting monthly interest papers mail to the house. I never had a problem with the loans then.
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Your father cannot waive liablity on the loans unless he can show fraud on your part.
He can be mad but that does not resolve joint and several liability on a loan.
Answered on Oct 19th, 2021 at 4:40 PM