You can file for bankruptcy if you want to wipe out the debt entirely.
Or you can wait until the debt collector sues you and then you can sue your friend at the same time to get reimbursed -- assuming that your friend has any money.
BotXXXXX XXXXXne is that if you cosign on a debt, you're liable for it, just the same as the other cosigners.
The only other way is to sue the other cosigners to pay their part of the debt.
Or, you could try to negotiate with the creditor to get out for a lower price. Other than that, bankruptcy is the only way out.
DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.
The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).