barron4241
Junior Member
Michigan
My dad took out a ($47,000) parent plus loan in his name to help pay for my schooling while I was attending my University. I have been making payments on the loan since it entered repayment. My name is not on the loan. My question is, can he write up some type of contract with me making me legally responsible for the loan? The reason that I ask is that I will have some debt forgiven this year and will have to include this forgiven debt on my taxes as income. It would be nice to be able to use this debt when calculating my insolvency since I have been and will be making all payments on it.
My dad took out a ($47,000) parent plus loan in his name to help pay for my schooling while I was attending my University. I have been making payments on the loan since it entered repayment. My name is not on the loan. My question is, can he write up some type of contract with me making me legally responsible for the loan? The reason that I ask is that I will have some debt forgiven this year and will have to include this forgiven debt on my taxes as income. It would be nice to be able to use this debt when calculating my insolvency since I have been and will be making all payments on it.