Legal Question in Credit and Debt Law in Florida

co-sign

I co-signed for a motorcycle for a friend. He's been late on payments and its hurting my credit. How can i get my name off the loan by taking him to court?


Asked on 11/27/06, 3:06 pm

1 Answer from Attorneys
Barry Kaufman The Law Office of Barry W. Kaufman

Re: co-sign

You can't get your name off the loan by taking him to court. This is a matter between you, your "friend", and the lender. You are equally responsible for the payments as he is. That's what "co-signing" means. The fact that he has possession of the bike doesn't matter a bit. The two of you are equally responsible for the loan payments.

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Answered on 11/28/06, 9:04 am


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