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What type of lawyer should we consult as we co-signed student loans for our son who is not paying/what recourse do we have if an

Mankato, MN |

do we have any legal recourse if we cosigned a student loan and our son is not paying, is there any way to remove our name from the loan, can we get his wages garnished, please help, we are nearing retirement and this stresses us a great deal

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Attorney answers 3


Well the whole point of being a co-signer on the loan is so the bank has someone else to take responsibility for the loan should a risky debtor (like a student) default. You really can't get off the loan at this point, but if you are sued you

Christian Ryan Peterson

Christian Ryan Peterson


My answer was cut off. I was going to say that if you are sued you could come to some sort of resolution so that any judgment is your sons responsibility.

Jeremy Judson Cobb

Jeremy Judson Cobb


Yes, I've found that the Avvo interface for answering questions on my smartphone is less than ideal.


You should consult an attorney who specializes in debtor-creditor law (such as me). I have good news and bad news. Bad news is, you are still the cosigner and bear responsibility. In fact, the lender can pursue you exclusively while ignoring your son. Good news is, if you enter retirement and earn only certain kinds of income (such as social security and certain pensions), your income may be beyond the reach of creditors. But through non-wage garnishment, a judgment creditor can attempt to reach non-wage assets, and a judgment lien can attach to any real property you own.

The easiest way around this is for your son to get a forbearance or deferment, or otherwise make suitable payment arrangements.


I'd highly suggest you consult with a consumer rights attorney. Depending on the type of loan (private or federal), you may have a number of options.

Some private loans have a co-borrower buyout provision in the terms of the loan. Other private loans have special insurance provisions that may also provide some relief.

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