my husband is on a lease for repair equipment for a automotive shop he opend with a friend. The friend closed the bussiness out from under him and took this equipment out of the shop which wasnt supposed to be moved. Now the people who own the equipment are calling my husband wanting the money for this or they are taking him to court. My husband is a co signer. The payments havent been made in 3 months cause his bussiness partner took the equipment. His bussiness partner also wont answer his phone or talk to these people to refinance it in his name only. My husband and I tried to refinance it in our names but the company wouldnt do it cause my husband had strted up a new company. Please let us know what to do?
1 Answer from Attorneys
Your husband is on the hook for the payments. You should think about suing the former business partner. Unfortunately, that will not do anything to get your husband off the hook for the payments owed on the repair equipment, as this is not the creditor's problem. This situation is something to discuss, in person, with an attorney in your area. I wish you the best.
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