Legal Question in Civil Litigation in Georgia
co-signed on lease
I allowed someone to assume a lease on a vehicle that I was leasing and the leasing company would let me off the lease. Instead they made me a guarantor. The guy that assumed the lease is a young and fairly new attorney and he had his father who lives in VA co-sign for him. So, he has 2 cosigners, me and his dad. This guy has barely made a payment on time. I have had to cover several payments for him and have had to threaten to sue him to get him to pay me back. I recently received a letter from the leasing company advising me that the account is delinquent. Called them and the account was almost 60 days late. I made the payments and pulled my credit report. It is showing up as a 30 day late on my credit report now and I have sent him and his dad certified letters demanding payment and of course I have been ignored. I called this guy and left a message and no return call. My question is He owes me going back to January 2007. If i file a lawsuit, is it too late to go back to 2007? Also, the lease contract was notarized with this guy and his dad. Can a Georgia notary notarize in Virginia? I'm assuming his father did not come to come to Georgia to sign the contract. If he did can I sue the father in GA or would I have to go to VA?
2 Answers from Attorneys
Re: co-signed on lease
As I am sure you know now, you are paying for YOUR mistake in doing this deal. You still might have a claim against the person who assumed the lease for payments you made. I am not sure what claim you think you have against the other co-signer. Co-signing the lease gives the lessor a claim against him for the debt. What contract do you have to show he guaranteed any debt to you or is in any way liable to you? What difference does the notarization make, in a lease between the other guy and the leasing company, with you only as a co-signer?
Re: co-signed on lease
Generally speaking, absent explicit language to the contrary, an assumption will not let the assignor (you) off the hook. Such an agreement is called a novation. Also, based on the facts as you have stated them, it appears that any recourse you have would be against the son and not his father.
The statute of limitations for a breach of contact action is 4 years. Whether you would be successful in such a suit depends on numerous factors, including the contents of the leasing and assignment agreement.
There are other useful facts that would be pertinent to providing an answer to your issue. If you wish to discuss matters, please feel free to contact me at the e-mail below.
Last but not least, (1) this message is for informational purposes only, (2) I am not your attorney, and (3) no attorney-client relationship exists absent a written engagement letter signed by me.
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