Legal Question in Credit and Debt Law in Missouri

I have Co-Signed a Student (college) loan for a friend and after graduation he left the state. I know where he is and I want to know if there is any way out of this Loan?


Asked on 8/04/09, 2:09 pm

1 Answer from Attorneys

Anthony Smith LawSmith

There are two basic ways to get out from under this loan. The first you probably already considered. That is to pay the loan off. The second is to get the lender to release you as guarantor. The second may require that you do the first. If the llender cannot or does nto want to pursue the primary borrower (your friend) they may choose to come after you. If you can provide home address and work information about the primary borrower, the lender may nto hassle you much. But, if they have to sue the primary borrower, they will surely sue you too. Abut the only way to avoid that is to file for bankruptcy protection. I wish I could give you better news, but, unless your friend pays, they will come after you.

Good Luck

Read more
Answered on 8/04/09, 3:21 pm


Related Questions & Answers

More Credit, Debt and Collections Law questions and answers in Missouri