Legal Question in Civil Litigation in Washington

Money owed to me and I have a signed promissory note

I loaned money to someone with a cosigner and they have failed to pay. I have prewritten checks from them, however they closed the account.

1. Can I hold either party responsible? 2. What do I do with the checks? 3. I know the wherabouts of the cosigner and rather go after him. (your thoughts) 4. If I take the cosigner to small claims and get a judgement, how long do they have to pay me? Can I start a wage garnishemt and report to credit agencies?

5. Can the cosigner in turn sue the borrower becasue they had to pay the debt.

The amount of the debt is 3,000 so I know that's small claims action but what if it's 10,000 what happens then?


Asked on 1/26/04, 12:07 am

1 Answer from Attorneys
Matthew King Wershow & Ritter, Inc. P.S.

Re: Money owed to me and I have a signed promissory note

It depends on the force and effect of the promissory note. Uniform Commercial Code Articles 3 and 4 deal with promissory notes. Assuming that the note is valid and enforceable under UCC, you can sue against both the promissor and the co-signer. You would likely want to sue in District Court or Superior Court in lieu of Small Claims Court. Under Washington law, attorneys fees are recoverable for lawsuits under $10,000.00. Note, however, that if neither the promisor nor the co-signer have assets you would likely not get anything but a paper judgment.

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Answered on 1/26/04, 10:20 am


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