If my ex-boyfriend took out a personal loan while we lived together, am I responsible if he fails to repay?

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If my ex-boyfriend took out a personal loan while we lived together, am I responsible if he fails to repay?

I am not on the loan at all.

Asked on September 20, 2010 under Bankruptcy Law, New York

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 11 years ago | Contributor

If you did not co-sign the loan with the bank or lending institution then you have no obligation to repay them should the loan go in to default.  They may look to see who else lived or lived in th residence at the time of the transaction in an attempt to collect from someone whom they believe may have some legal responsibility (like a spouse or parent) but really no one else does.  Why would he be telling you this?  Did you have some agreement between you that he would sign and you would both pay?  Then that may be a different story but not necessarily one that would require you to pay up.  If that is the case lay all the facts out to an attorney in your area for consultation.  Good luck.


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