Now i am stuck with it....How can i get out of paying the loan since she wont do it
2007-02-15 12:55:00 · 4 answers · asked by Jamie B 2 in Business & Finance ➔ Credit
Let them repossess the item that you cosigned for, and take the ding on your credit.
Force the money out of your ex and pay it off in full.
Force them to collections (they will come to you), pay 25 cents on the dollar and take the ding on your credit.
Never cosign anything.
2007-02-15 12:59:22 · answer #1 · answered by Christmas Light Guy 7 · 0⤊ 0⤋
You can't. Well, I guess you can. There's the option of not paying it and letting it get delinquent, but you are the one who is going to have your credit affected. One question, why did you take a loan out for someone else? I hope it isn't too much money, but either way, you are going to have to suck it up and pay it. She has no incentive to pay it, and she obviously realized this at some point.
Chalk it up to experience, pay for this mistake, and never do it again. Sucks that your "friend" screwed you over, but if you care about its affect on your future, you just have to pay it.
2007-02-15 21:07:31 · answer #2 · answered by s 3 · 0⤊ 0⤋
If you co-signed for a loan for your friend and she won't pay, you will have to pay it. You can sue her for the money you paid on it. That's only the smart way to go if she can pay it back.
2007-02-15 21:03:44 · answer #3 · answered by lynda_is 6 · 1⤊ 0⤋
There really is no way you can get out of paying it but I would suggest filing a claim against your ex roommate in small claims court.
2007-02-15 20:58:15 · answer #4 · answered by ? 5 · 0⤊ 0⤋