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Category: Business Law
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Experience:  Drafted Negotiated and/or Reviewed Thousands of Commercial Agreements
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My husband co-signed for an educational loan for my nephew

Resolved Question:

My husband co-signed for an educational loan for my nephew in 2007. After graduation my nephew stated that he would consolidate all of his student loans and remove my husband's name from the loan. After finishing college, however, my nephew never paid on the note and the bank promptly went after my husband for payments.He paid on time continuously for almost two years, while trying to contact my nephew,to get him to pick up the payments. My nephew never made one payment, and my husband stopped paying. Eventually, creditors came after my husband and he had no recourse other than to pay off the entire loan. Now we are going to court to sue my nephew for the amount that we paid towards his loan. Do we have a chance to recover any of the money that was paid out on behalf of my nephew's educational loan? At the least we were misled.
Submitted: 3 years ago.
Category: Business Law
Expert:  MShore Law replied 3 years ago.
Thank you for the post, yes you have a very sustainable claim against the nephew for negligence and misrepresentation.
MShore Law, Attorney
Category: Business Law
Satisfied Customers: 25285
Experience: Drafted Negotiated and/or Reviewed Thousands of Commercial Agreements
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