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xavierjd
xavierjd, Attorney
Category: Legal
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Experience:  20+ yrs in criminal, landlord/tenant, family, & small claims
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My wife co-signed for our daughters college loans in 2002.

Resolved Question:

My wife co-signed for our daughter's college loans in 2002. My daughter (now 28 years old) doesn't pay her loan payments on time unless we say something. She regularly lets them go 2 or more months before she catches them up. This has negatively affected our credit rating which was excellent prior to this. It isn't an issue of her finances, only her lack of diligence. It looks like she may be moving out of the country permanently and may not take any responsibility for these loans. Is there any action we can take to remove our names off of the loans?
Submitted: 6 years ago.
Category: Legal
Expert:  xavierjd replied 6 years ago.

Thank you for using JustAnswer.com!

 

Unfortunately the answer is "no." Your daughter's actions are a classic example of why lenders want co-signors. The co-signor in the financial back-up plan in case the primary person skips out.

 

Good luck and best wishes. I hope that you find this information to be helpful.

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