Legal Question in Civil Litigation in Georgia
Debt owed me
I signed for a friend to purchase a
new car. She has an income of
$7,000 from a death benefit caused
by the state. She was to repay me
within a month. I has been over a
year, and I am making payments on
her car, which she has recently
wrecked. I can't get anyone to tell
me what actions I can take to get
back my money. Any help?
3 Answers from Attorneys
Re: Debt owed me
Sue her in small claims court (Magistrate Court). Since you co-signed, you are liable, but she, in turn is liable to you.
Re: Debt owed me
Nothing in your post says any money is owed to you.
When you cosign a debt, you are promising to pay the creditor, and the creditor, in asking you, is sending you a strong message that they think the other party is a bad payment risk.
Unless you hold some proof of a loan between you and the other person, such as a loan agreement, note or contract, it would be extremely difficult to establish that you are owed anything. Additionally, if the bank cannot collect from her, how do you expect to succeed where they failed?
Re: Debt owed me
You have learned one of life's important lessons: never co-sign for the debt of another. Unfortunately, you learned it the hard way. Pay off the debt and move on.
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