i loaned someone $3500 and cosigned for loan the remaining balance on that is $5000. will pay off 5000 loan because payments have been late and nsf, affecting my credit. what is the best way to collect my money back from this individual. can i take to small claims twice as seperate issues?
1 Answer from Attorneys
Why would you want to file two suit and pay two filing fees? You are out $8500-- if you want to make a claim in the small claims court, then that would be the amount of your loss- It is possible to file a two count lawsuit, one for the $3500 loan and another for the $5k you had to pay because he didn't meet his obligations.
I hope this helps-