Legal Question in Banking Law in Florida

Hello. I'm not sure if this is the right section, but I have a pretty simple question to ask. I have a friend at work that is a pretty legit guy, I've known him for a month. I trust him, he is 21, married and has 2 kids. He asked me to co-sign a loan with him for 12 thousand, 5 years, 261 monthly. He said he would give 1000 in return. I agreed to do it tommorow. Please tell me if there is any sorts of written agreements that I could make with him that would protect me in case he isn't able to pay it. Tell me all kinds and formants they should be in, and if I need a lawyer to make them. Thank you.


Asked on 12/30/09, 9:52 pm

1 Answer from Attorneys
Alan Wagner Wagner, McLaughlin & Whittemore P.A.

There is no way in the world any attorney would ever recommend that you do this. Dumb, dumb, dumb move. Why does he need the money? Why can't he get it legitimately? You would need the wife to sign the loan as well and preferably you want collateral (which he probably does not have).

Read more
Answered on 1/05/10, 6:15 am


Related Questions & Answers

More Banking Law questions and answers in Florida