Responsibility for a cosigned loan when the engagement is called off

Dear Experian,

If I cosigned on student loans for someone I was previously engaged to, but the relationship did not work out, am I still jointly responsible for those loans?



Dear SDE,

Unfortunately, account contracts don’t end with the relationship. If you cosigned the contract, you are still responsible for the debt.

When you cosign a loan application, regardless of what it is for, you are telling the lender that you will pay the debt if the other person doesn’t. Your relationship with the other person has no bearing on the contract terms.

Cosigning an application should not be done without careful thought, especially if there is no legal relationship such as marriage or familial relationship, such as for your child. Even then, cosigning should not be taken lightly.

I suggest you contact the lender that holds the loans and make sure you understand the exact repayment deadlines and requirements. Make sure they have your contact information on record in case he doesn’t pay. The last thing you want is a surprise several years from now if payments stop and those missed payments become part of your credit history.

He’s gone, but the debt won’t go away.

- The “Ask Experian” team

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