Legal Question in Credit and Debt Law in Illinois

Does co-signer have any legal recourse?

I co-signed a vehicle for my sister who has been extremely irresponsible in making her payments. I am tapped out and have always had A+ credit history. My problem is the collector is now calling me and threatening to garnish my wages. I will lose my job if that happens. My sister does not return their calls nor mine and I am desperate to eliminate this debt but I dont have the money nor can I get my hands on the vehicle to take it and sell it off. (I am sure I would not get what the pay off is if I could find and sell it.) This one thing I did to help her is ruining my credit history and could cause me to lose my job and my sanity. Is there anything or any recourse I have to stop this or get my name off this vehicle? Not that it matters now, but the auto dealer put me on as joint and not co-signer I have recently found out.

Asked on 6/06/01, 8:25 pm

1 Answer from Attorneys

Lawrence A. Stein Aronberg Goldgehn Davis & Garmisa, LLC

Re: Does co-signer have any legal recourse?

In Illinois, it is unlawful for an employer to terminate the employment of an employee for having their wages garnished for one debt. The only way to protect your credit from further damage is to make the payments due on the account, as you promised to do when you signed, and seek repayment from your sister.

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Answered on 6/29/01, 1:45 pm

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