I offered to help a friend finish school, so I signed a loan for 10K and he co-signed. He agreed to pay off the loan, since it was for his education. Its been more than 6 months since he has given me money for the loan or paid the loan directly so I've had to pay it. Is their anyway i can take him to small claims court and have him pay for the loan. The loan did go directly to his school, would that be valid enough proof that I did not receive that money and he should pay. I have been paying the loan obviously because I don't want my credit to suffer but can I do something or am I stuck paying this bill?? please help any advice will be greatly appreciated. Thanks!
2006-07-12 04:27:44 · 8 answers · asked by alexandra_131 1 in Politics & Government ➔ Law & Ethics
My advice is to find out what your legal options are. www.getprotectedhere.com
2006-07-19 00:47:00 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Student loans are avaliable to most everyone. He should have gotten one. Talk to the lender about taking your name off of the loan and getting it put in his name only. If the issue was his credit and you have been paying the loan, then he probably has good enough credit now to handle the loan on his own. I would also talk to his parents if he's under the age of 25. Be nice and see if they can make sure he pays it. See if you can put the payments on automatic withdrawl from HIS account. You'd have to be pretty creative to accomplish that, though. Is he still in school? NEVER EVER EVER sign on ANYTHING WITH ANYONE.
2006-07-12 04:37:29 · answer #2 · answered by mg 3 · 0⤊ 0⤋
I don't believe you can, because you signed as a co-signer. You are going to be held responsible for the loan. As far as small claims court, you can sue anyone for anything, and you have enough evidence that I would recommend filing. Just remember that the maximum allowed in small claims is $5000, so keep that in mind when you go to file.
2006-07-12 04:31:02 · answer #3 · answered by warrior_kuhlman04 2 · 0⤊ 0⤋
Small claims usually has a limit of $5,000, so you would have to either settle for that amount or file a lawsuit. You can just about sue anyone for anything, so I would at least try. I believe that you can, at very least, get half. But, more than likely, you could get all of it. Just learn from the experience!!! Good luck.
2006-07-12 04:39:56 · answer #4 · answered by Becky C 2 · 0⤊ 0⤋
Yes it doesnt matter what the money was used for. If he signed a loan with you you can sue him for the full amount. You will probabbly only get half unless you can prove that he used it all himself.
2006-07-12 04:32:00 · answer #5 · answered by bildymooner 6 · 0⤊ 0⤋
Yes you can go to small claims court and yes the person would have to reimburse you. NEVER co-sign. It puts strains on relationships and families. Makes lots of enemies too.
2006-07-12 05:25:59 · answer #6 · answered by Anonymous · 0⤊ 0⤋
You can take him to court, but you are responsible to pay the loan if he doesn't. Nice guy, huh? I bet you won't do that again.
2006-07-12 04:37:48 · answer #7 · answered by Anonymous · 0⤊ 0⤋
try to be an officer of the regulation considering this can be a subject matter the position someone is breaking the regulation. the most you ought to do is to have a company the position you help the police to seek for babies or foyer for extra penalites for sex offenders. the necessary answer is that civilians won't be able to be vigilante keepers of justice. The regulation would not enable it.
2016-10-14 09:40:27 · answer #8 · answered by ? 4 · 0⤊ 0⤋