I co-signed a load for my friend a few years ago to help her out. In a couple of years she was diagnosed with cancer, she passed away recently. The debt collectors have been trying to reach me to pay the loan back. It is over $4,000 now, am I responsible for my friend's debt or is there a way out? Thanks.
1 Answer from Attorneys
Generally speaking, unless the loan documents provide that the loan is forgiven on the death of the borrower, her death does not affect your liability under the guarantee.