In MA. Mom co-signed a loan for $1000 for her daughters BF. He made 5 payments and stopped. Due to legal troubles.

Attorney answers (3)

1. Licensed in MA

   

   Christopher Vaughn-Martel

   Boston Family Law Attorney

   Contributor Level 17

   4

   Lawyers agree

   1

   Helpful vote

   Best Answer

   chosen by asker

   Answered November 29, 2012 04:37. Here is what I would suggest as a possible solution.
   
   Your mother can approach the boyfriend with a proposal to payoff the loan for him - which will help them both - if he will sign a promissory note agreeing to make payments to her with interest, and provide for attorney's fees if he is in breach. The promissory note will be very useful to her if he ever fails to pay her back.

   Christopher Vaughn-Martel is a Massachusetts lawyer with the firm of Vaughn-Martel Law in Boston, Massachusetts.... moreChristopher Vaughn-Martel is a Massachusetts lawyer with the firm of Vaughn-Martel Law in Boston, Massachusetts. All answers are based on Massachusetts law and the limited facts presented by the questioner. All answers are provided to the general public for educational purposes only and no attorney-client relationship is formed by providing an answer to a question. To schedule a consultation with a lawyer, and obtain advice and review of your specific legal issue, please call us today at 617-357-4898 or visit us at www.vaughnmartel.com. less

   • VAUGHN-MARTEL LAW

   • Mark as helpful
   • Flag
2. Licensed in MA

   

   Travis J. JacobsPro

   Boston Business Attorney

   Contributor Level 12

   

   EmailVisit website

   3

   Lawyers agree

   Answered November 29, 2012 05:08. Both attorneys have given excellent responses. I like the promissory note idea because you could collect atty fees if you had to sue.

   This response is not to be considered legal advice by anyone. This communication, alone, does not create an... moreThis response is not to be considered legal advice by anyone. This communication, alone, does not create an attorney-client privilege. Unless you have executed a fee agreement with the attorney, that is related to the subject matter contained in this communication, you are advised not to rely on this communication to make any decisions whatsoever or to create an attorney-client relationship. No attorney-client relationship shall exist with this attorney without a fee agreement executed by you and the attorney. less

   • Mark as helpful
   • Flag
3. 

   David MerrillPro

   West Palm Beach Chapter 11 Bankruptcy Attorney

   Contributor Level 14

   

   EmailVisit website

   4

   Lawyers agree

   1

   Helpful vote

   Answered November 29, 2012 04:15. She can pay it off at any time. At this point, she is being a good mother to her daughter and trying to be supportive obviously, but legally she can pay it off, demand payment from the BF and sue him if he doesn't pay.
   
   Just remember: the fact that you have a legal right or abilty to do something is never, standing alone, a good reason to do it. Remember Solomon and the infant, and always try to work through these issues before choosing the "nuclear" option of litigation, which will likely damage her relationship with her daughter and end her relationship with her daughter's BF.
   
   Good luck!

   • Mark as helpful
   • Flag