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Barrister
Barrister, Attorney
Category: Bankruptcy Law
Satisfied Customers: 35334
Experience:  16 years practicing law. Landlord 26 years
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I cosigned on a student loan. The primary borrower got the

Customer Question

I cosigned on a student loan. The primary borrower got the loan discharged in bankruptcy court without me even being aware of this. Now i am being sued . Is there anything I can do?
Submitted: 1 year ago.
Category: Bankruptcy Law
Expert:  Barrister replied 1 year ago.

Hello and welcome! My name is ***** ***** I will try my level best to help with your situation or get you to someone who can.

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Unfortunately, when someone co-signs on a loan, they are agreeing to be legally liable in the event that the primary borrower defaults on the loan and can't pay. If the primary was relieved of any obligation to repay the debt through bankruptcy, then that leaves you as the only guarantor of the loan.

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With that said, you could contact the creditor and see if they had any type of hardship loan forgiveness program that you could apply for if this would impose a substantial hardship on you to repay. But this is typically up to the creditor, and if they have filed suit already, then chances are slim that they would agree..

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I am very sorry that I don’t have better news, but please understand that I do have an ethical and professional obligation to provide customers with legally correct answers based on my knowledge and experience, even when I know the answer doesn’t make the customer happy...

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thanks

Barrister