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RobertJDFL, Attorney
Category: Legal
Satisfied Customers: 13656
Experience:  Experienced in multiple areas of the law.
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Well we would like to know how this works and what is the

Customer Question

Well we would like to know how this works and what is the fee?
JA: You just pay a $5 deposit now and the rest only when you get a reply from the Lawyer. All of this is 100% satisfaction guaranteed, so you can get a refund if you're not happy for any reason.
Customer: ok when do I pay the $5?
JA: Because employment law varies from place to place, can you tell me what state this is in?
Customer: Florida?
JA: Have you talked to a lawyer yet?
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JA: Anything else you think the lawyer should know?
Customer: Should I tell you what the problem is?
Submitted: 11 months ago.
Category: Legal
Expert:  RobertJDFL replied 11 months ago.

Thank you for using Just Answer. My name is ***** ***** I am a licensed Florida lawyer.

Can you tell me a little about the problem you're having, please?

Customer: replied 11 months ago.
Back in 2005 my oldest son was in college and asked me to be a surety for his then girlfriend to sign for a student loan I did, we just got a letter stating she defaulted in the loan I would like to know what can I do by the way I know it's irreverent they are no longer together my son had graduated and had married with some one else? I would like to buy a house but as you know with this it will be hard. Can you advise please?
Customer: replied 11 months ago.
I'm at work it easier if we continue like this
Expert:  RobertJDFL replied 11 months ago.

Thank you for your reply. To clarify, since there is a slight difference, were you a surety on the loan, or a co-signer for her?

Customer: replied 11 months ago.
From what I see a surety
Expert:  RobertJDFL replied 11 months ago.

Thank you for your reply and for clarifying.

As it sounds like you know, when you are a surety, you commit yourself to paying for the loan or taking on the responsibilities to act if the other person does not honor her obligations. However, you can specify a fixed amount as the extent of your liability, and you won’t have to pay more than that amount (whereas a co-signer is responsible always for the full amount remaining). So, it's worth reviewing that agreement and seeing if it specifies an amount.

Another difference between co-signers and a surety is that generally, if you provided surety for a loan, the creditor must request payment from the main borrower and can contact you only if the borrower can’t pay back the loan, versus when you co-sign, the lender can simply go straight to you, even if the other borrower misses just a single payment. They may not even pursue the other borrower first.

Ultimately, however, much like if you were a co-signer, your remedies are the same. If you end up paying the loan, you then have to seek repayment from the other borrower -the ex-girlfriend. This could mean having to file suit against them in court, and even if you're successful, doesn't guarantee that they will honor the judgment, of course, which could mean more time and money spent trying to garnish wages, seize assets, etc. to satisfy repayment.

I realize this definitely is not what you want to hear. Being a surety or co-signer is risky, and although I understand why you agreed to do what you did, it put you in a very bad spot now. If the loan isn't repaid, your credit can take a hit. And unlike other private debts, getting a student loan discharged in a bankruptcy is very, very difficult due to changes that were made to bankruptcy laws.

While the news isn't better, understand that it would be unfair to you, and unethical of me, to tell you less than the truth.

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