Legal Question in Personal Injury in Georgia

I cosigned for a Sallie Mae student loan for my brother 7 years ago. For the past year he has been making late payment and sometimes not paying at all. I have had to make several payments to keep this from affecting my credit. If I pay off the loan, can I take my brother to court and obtain a sucesful judgment against him? Please help, I am desperate for the peace of mind but I would be using all my savings. Thanks


Asked on 12/20/10, 9:30 am

3 Answers from Attorneys

Phillip M. Cook Cook Legal Services, LLC

It depends ENTIRELY on the terms of the loan you co-signed whether you can pay off the loan and take your brother to Court and obtain a judgment against him. If you would like a Georgia lawyer to review the terms of the loan and advise you of your rights, please feel free to contact me at [email protected].

Best of luck.

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Answered on 12/25/10, 11:35 am
Scott Riddle Law Office of Scott B. Riddle, LLC

There is virtually no chance it depends on the terms of the contract with the lender, so paying someone to read that likely won't get you too far (and you can read it yourself). That'll say you are both liable TO THE LENDER, and that is the agreement between you and your brother and the lender, not between you and your brother. The lender does not care what is between you two. You certainly should have had a separate agreement with him, but you don't mention that. Otherwise, this is exactly the risk you willingly signed up for. People need co-signers for a reason.

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Answered on 12/25/10, 12:11 pm
Glen Ashman Ashman Law Office also dba Glen Ashman Attorney

Generally yoiu cannot sue your brother.

You can if you have a signed agreement between you and him saying you can.

As you have found out, no one should ever cosign a loan. It is almost always a problem later, and one that can't be fixed.

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Answered on 12/25/10, 1:34 pm


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