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Tina
Tina, Lawyer
Category: Legal
Satisfied Customers: 8775
Experience:  JD, BBA Over 25 years legal and business experience.
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I co-signed on a car a couple of years ago like an ...well

Customer Question

I co-signed on a car a couple of years ago like an idiot...well the loser took off and I havent seen him or the car since. He quit making payments on it...They ended up tracking him down and reposessed the car...They sold the car and of course want the difference which is $17,000.00..Im pretty sure he has no money but I was wanting to know if anything can be done or if I have to just suck it up and make payments to them until the debt is paid off...is there a way to go after him...even though I know you cant get blood out of a turnip so to speak. Just wondering if Im stuck with this huge debt on my own...I live in Kansas.
Thank you for any advice you can give me.
Submitted: 5 months ago.
Category: Legal
Expert:  Loren replied 5 months ago.

Good afternoon. I am Loren, a licensed attorney, and I look forward to assisting you. I am sorry to hear of your dilemma. I realize how frustrating this is for you and I hope to provide you information which is accurate and useful, even though it may not be the news you were hoping to get.

Unfortunately, since you cosigned then the lender has a legal right to pursue you for the deficiency.

However, if you and the other owner had an agreement that he would make payments and he stopped, you can sue him to repay you for any sums you are forced to pay due to his breach. If you get a judgment then you can garnish his wages and accounts and attach his property to pay the judgment.

Expert:  Loren replied 5 months ago.

You may wan to retain local counsel to help you obtain the judgment and satisfaction. Many collection attorneys will work on contingency so that you will not have to pay anything upfront.

If you need assistance finding local counsel try Martindale Hubble (site rules prohibit us from referring specific attorneys) . Many attorneys themselves use this site to locate attorneys outside their jurisdiction or expertise:

http://www.martindale.com/Find-Lawyers-and-Law-Firms.aspx

It is a huge worldwide database searchable by location and specialty. The attorneys are all peer rated. So, they represent the top of the profession.