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TJ, Esq.
TJ, Esq., Attorney
Category: Landlord-Tenant
Satisfied Customers: 12099
Experience:  JD, MBA
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I co signed on a lease daughter to rent a house...she has

Customer Question

I co signed on a lease for my daughter to rent a house...she has now defaulted and they have sent me to collections for abnormal wear and tare for the amount of last month's rent and repair costs of 4950.00.
Is this a real mark on my credi?
Submitted: 1 year ago.
Category: Landlord-Tenant
Expert:  TJ, Esq. replied 1 year ago.

Hello and thank you for allowing me to assist you.

Unfortunately, if this gets entered on your credit report, then it will cause a bit of damage. That's not to say that your credit will be devastated, but if you intend to get a loan in the near future, then it could cause your interest rate to be higher, and some lenders may even refuse to give you credit. In addition, you could be sued for the $4950, plus attorneys fees, etc. If that happens, and the creditor gets a judgment against you, then it could take collection action against you such as a wage garnishment, bank garnishment, or property lien. Accordingly, if I were in your shoes, I would attempt to settle.

Does this answer your question? If so, then please provide positive feedback. If not, then feel free to ask for clarification.

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