Legal Question in Family Law in Florida
My Son's Girl Friend co-signed a student loan for her mother for in the 10's of thousands of dollars. His girl friend only works 3 days a week at Walmart. (so she doesn't have much income) My son would like to marry her, but is concerned that he would become responsible for the loan if the mother defaults. Would he be responsible? What could his girl friend do to get out of this?
1 Answer from Attorneys
He is not responsible but if they co-mingle funds and a judgment is secured all funds could be frozen and assets taken whether they be his or not. I suggest you have the mother refinance the loan and remove the daughter's name completely as a co-signer. If she can't pay the loan with a co-signer then I suggest the girl's mother find someone else to sign for her. Never a good idea to have family and money mixed especially when a co-signer is just as responsible for a debt as the signer if the signer (mother) defaults.
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