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TJ, Esq.
TJ, Esq., Attorney
Category: Criminal Law
Satisfied Customers: 11784
Experience:  JD, MBA
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I cosigned a Sallie Mae loan with the intent the person was

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I cosigned a Sallie Mae loan with the intent the person was going back to school, she never did and the money is gone.It turns out the loan was a personal loan not a school loan, I was not aware of this. The paper I signed indicated a graduation date of 2009. I never happened and I am stuck after she went bankrupt. Do I have any options or rights
Thank You Ray Johnson
Hello and thank you for allowing me the opportunity to assist you.

Unfortunately, it sounds like you're stuck. Co-signing the loan means that you agreed to be liable for it if the borrower refuses to repay. If the borrower has not paid, then the lender can go after you. If the loan was truly a student loan, then it was not discharged in the bankruptcy. That means if you end up paying the lender, then you can still go after the borrower yourself. But if the loan truly was a personal loan, then it was likely discharged in bankruptcy, and that means that you cannot go after the borrower for the money even if you end up repaying the lender entirely. Of course, if the loan is a personal loan, then you could file for bankruptcy yourself. Obviously, that is less than ideal, but it may be the best option if you are trying to avoid collection activity such as a lawsuit, garnishments, etc.

I am truly sorry to give you this bad news, but please understand that it would be unfair to you (and unprofessional of me) to provide you with anything less than an honest response. However, if your concerns were not satisfactorily addressed, then please let me know, and I will be happy to clarify my answer. I do ask that you rate me based upon whether I answered your question, and not based upon whether the answer was good news or bad news. Your positive feedback is greatly appreciated.

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Customer: replied 3 years ago.

can i get a court order ? can a judge review this since I signed a agreement indicating she was going back to school ? It's been a pack of lies from the start.

Hi again.

Does the agreement that you signed state that you are only liable if she goes back to school and/or that you would only be liable if the funds are used for school?
Customer: replied 3 years ago.

I have to get my file back from the attorney and check.


Thank You,


Ray Johnson

No problem. Let me know when you know exactly what it states.
Customer: replied 3 years ago.

I settled with Sallie Mae for a portion of the loan, this will release me from being the co-signer.


Ray Johnson

Hi again. That's great news. I'm glad that you are out from under the debt!

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