Legal Question in Landlord & Tenant Law in Pennsylvania

Co-signer

Recently I cosigned an apartment for a friend for 1 year lease. now my friend has a bad credit that is why I offered to help, and I always watch her closely if she is paying on-time and does not do any damage to the apartment- so that in that way I protect myself from bad credit, my question is � In case some unfortunate thing happen , late payments or damages , Is there any law or case that can help me from having a bad credit due to a delinquent �friend� and if I want to get out of the being a cosigner right now even before any things as such late payment etc, happens? Thank you


Asked on 8/24/05, 3:24 pm

1 Answer from Attorneys
Mark Johns Mark Johns, Esquire

Re: Co-signer

Only if the landlord let you out could you be relieved of your resposibilities as co-signer. You should be given an adequate period of time to make good any rent payments that are not forthcoming from your friend. As to damages, it would only affect your credit if the landlord brought suit and received a judgement in his favor and neither you nor your friend paid the judgement. You may also wish to make sure your friend has adequate renters insurance.

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Answered on 8/27/05, 2:35 pm


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