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I co-signed for my son on a signature loan. The loan is for

 
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Customer Question

I co-signed for my son on a signature loan. The loan is for four years. He has made only three payments. The loan was taken out in June 2011. I have been force to pay it because he won' t . What can I do from legal stand point?

 

Optional Information:
Country relating to Question: United States
State (if USA): Louisiana

Already Tried:
Other than try talk to him nothing

Submitted: 318 days and 22 hours ago.
Category: Legal
Value: $40
Status: CLOSED

Accepted Answer

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Expert:  LegalBeacon replied318 days and 21 hours ago.

Welcome! My goal is to do my very best to understand your situation and to provide a full and complete answer for you.

Good afternoon. At this point, someone in your position would want to file a claim directly against the son. Once the suit is filed and a
judgment awarded, you become a judgment creditor and can have the sheriff serve
a summons on the losing party for a debtor examination. That forces the losing
party to meet the judgment creditor in court and answer questions under oath
about the losing party's assets. After that
information is obtained, the judgment creditor has the power to garnish wages, attach bank
accounts, and/or have the sheriff seize other
property to satisfy the judgment.



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Thanks for allowing me
to be of service to you. Please be aware that the information provided here is
not legal advice. Rather it is simply general information. All states have intricacies in their laws
and any information given is simply information only and specifically is not
intended to be, nor does it constitute, legal advice. This communication does
not establish an attorney-client relationship with you. I hope this answer has
been helpful to you.





Expert TypeAttorney
Category: Legal
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