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I have a nephew that I signed a co-loan for and he reneged…

I have a nephew...

I have a nephew that I signed a co-loan for and he reneged on the deal. He was upset that he did not get any money from his grandmother's estate. There is no mention that he gets any money from his grandmother so he decided to make me pay for the loan. It is for $4000. If I bring him to small claims court to I have a chance to get him to pay me back.

Lawyer's Assistant: Because laws vary from place to place, what state is this in? And can you tell me what's been officially filed?

Louisiana

Lawyer's Assistant: Has anything been filed or reported?

No yet I am going to in the next week.

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Answered in 20 minutes by:
8/13/2017
Michael Bradley
Category: Legal
Satisfied Customers: 1,532
Experience: Owner at The Protection Group LLC
Verified
From what you have stated, the only way to get any of the money back would be to file a small claims action against him. You can file a small claims action to get him to pay for the loan since the loan was for him and he received the financing and all you did was co-sign for it. As you have found out, you are responsible for that money as the cosigner and I am sure that you did not agree any of the benefits from the loan.
Michael Bradley
Category: Legal
Satisfied Customers: 1,532
Experience: Owner at The Protection Group LLC
Verified
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DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

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