California  |  Credit and Debt Law

Legal Question

Asked on: 1/17/11, 5:51 pm

When my son was 18 I cosigned a Key Bank Loan so that he could attend college because we couldn't get a federal loan. My son graduated over a year ago with a major in business. Due to the economy he has not been able to find a job. I am almost 67 years old and in need of retiring. However, I have been paying this loan because it is on my credit report even though it is his loan. He is now 26 years old. Is there some way that I can stop being responsible for his loan? He owes over $100,000.00 and I just simply can not continue to pay as I am working two jobs now. Thank you for any assistance you can give me.

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