Posted on: 02nd Nov, 2012 06:10 pm
I am the co signer on 3 of my son's Chase student loans. He passed away this past Feb. at the age of 25. I have been paying them since then and now Chase has forgiven one of the loans. People say I shouldn't have to pay anything since he died and not just stop paying or defaulted on the loan. So should I have to pay?
Hi pm,
As you're a cosigner for the loan, you are equally liable for the loan as your son would have been. In such a situation, I guess you will be liable for paying the loan even though your son is no more.
Thanks
As you're a cosigner for the loan, you are equally liable for the loan as your son would have been. In such a situation, I guess you will be liable for paying the loan even though your son is no more.
Thanks
Hi pm!
Welcome to forums!
I agree with James. As you're a cosigner, the lender will have the rights to come after you in order to collect the loan.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
I agree with James. As you're a cosigner, the lender will have the rights to come after you in order to collect the loan.
Feel free to ask if you've further queries.
Sussane
It's very sad that your son died at the age of only 25. Since you co-signed on his loans, you will be responsible for paying the loans even after his death.