Legal Question in Credit and Debt Law in Illinois

Personal loan to a former acquaintance.

I took on an apartment lease in my name, but in the agreement that my friend was to live there and pay the rent. He had no credit, or bank account at that time, and he agreed on the rent amount and location fully before moving into the apartment. This was in Chicago. During the lease, he asked me to loan him some money to make rent payments (due to a slow amount of business at his former place of employment). Yesterday, I was called by Collections for an outstanding $2400 not paid to the apartment management company. In total, I have given him about $2600 in cash for rent payments during the lease, and with the unpaid amount, approximately $5000 all together. He was not mentioned on the lease. It was my ignorant understanding, and verbal agreement with him, that he would pay me in whatever installments possible, until the amount was paid in full. The amount called for by the collections agency, I thought, was taken care of by him a year ago when that amount came into light.

I understand that what I did was very foolish, but I had known this person and he was my closest friend for three years prior to him asking me for help. I currently live in Poland and am in medical school.

Thank you for any information on this matter.

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