Legal Question in Credit and Debt Law in Florida
Cosigner recovery of funds from lendee
I consigned for the issuance of credit card at an elctronics store for an individual. The individual ran up the bill an was unable to pay. The credit company came after me...and eventually I had to pay the debt off.
My question is...as the cosigner do I have any legal recourse to go after the individual who ran up the bill..? This individual made no real attempt to repay me..
2 Answers from Attorneys
Re: Cosigner recovery of funds from lendee
Yes. You can sue the original debtor. If the amount is under 5,000 you can do this by yourself in small claims court. If it is more and you want counsel, look for local counsel or feel free to contact my office for a quote.
Re: Cosigner recovery of funds from lendee
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Yes. You can sue the individual in the appropriate court (less than $15,000 in county court or if greater than in circuit court) in your jurisdiction. You would need to gather together as much evidence as you can to lay out your case. If your claim is greater than $5,000.00 you should consider hiring an attorney to represent you.
Scott R. Jay, Esq.