CanI be released as a co-signer from a student loanthat Isigned for my ex-boyfriend?

Get Legal Help Today

 Secured with SHA-256 Encryption

CanI be released as a co-signer from a student loanthat Isigned for my ex-boyfriend?

We have been separated for over 2 years and I co-signed the loan almost 6 years ago.

Asked on January 23, 2012 under Bankruptcy Law, Florida

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

Unfortunately, you probably can't--or rather, won't--be released from the obligation. Your relationship status has no bearing on your contractual obligation as a co-signor; and the number of years since signing the loan doesn't matter either.

The only way to be released would be if all the parties--your ex-boyfriend and the lender--agree to release you; contracts, including for loan repayment, may not be changed without the agreement  of all parties to the document. There is no reason at all why the lender would release you--doing so hurts their interests, since it deprives them of a person from whom they could seek repayment, if your ex-boyfriend defaults. This is why one should never co-sign a loan, except for a spouse or child.


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

 Secured with SHA-256 Encryption