Can my father sue if he co-signed on a loan but the primary signer fled the country and has not made any payments?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
Can my father sue if he co-signed on a loan but the primary signer fled the country and has not made any payments?
My father co-signed a student loan for one of my sister’s friends. That person has never payed any money towards the loan and has fled the country. They may or may not have the money to pay back the loan but we cannot find this person. Do I have any legal recourse to sue her for the money or to get my dad’s name off the loan?
Asked on March 29, 2012 under Bankruptcy Law, California
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
If your father co-signed for a loan for a third party who was primarily responsible for the loan and your father ends up paying off this person's obligation, your father under the law has a legal and factual basis for bringing an action against this person for what he paid out and all accrued interest.
I suggest that he consult with an attorney experienced in contract law. Unfortunately, your father will not be able to have his name removed as a co-signer until the loan is paid in full.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.