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Posted in Student Loans
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mathmom01

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Should I pay off my ex's cosigned student loan?
I cosigned on a student loan for my ex that he defaulted on. I secured a personal loan to pay off my credit cards, but I cannot pay the loan AND all of my cards. The bank holding the student loan said they would charge it off next month. Should I go ahead and pay it off, or should I focus on my own personal debt?

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Well if you cosigned then it is your debt if the primary applicant doesn't pay.

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Unfortunately his debt is now your debt since you cosigned. If he defaulted, your credit wil be negatively impacted and the creditors will try to contact you after it's charged off. You might want to seek professional advice on this.

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