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My daughter was stupid to cosign her friend's dental loan. The loan will likely be in default soon. A year after I become aware of it. Can she be removed from loan if - she was 18 and had no income?
Wiki User
∙ 14y ago
An 18 year old is of legal age to sign a binding contract. The fact that she had no income makes the loan riskier for the lender but has no bearing on her overall contractual responsibility. Your daughter will be (and should be) held responsible for the debt. One suggestion I would have is that your daughter should consider getting herself an income (ie a job) asap to help pay off the loan that she guaranteed. The lesson for her should be: If you don't want to pay for the loan, don't sign for it!
Wiki User
∙ 14y ago
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