Legal Question in Credit and Debt Law in Indiana
Co-signing for someone who refused to pay!
I was tricked into co-signing for my now ex of an expensive product. I learned too late that not one payment was made, nor were there any attempts to pay, while all along I'd be told by this ex that payments were being made. Because I was never informed that there were no payments by either the ex or the store, I relied solely on his word. The account was charged off as a bad debt, and because collection agencies were unable to contact him after countless attempts (investigator claimed there were frequent hang-ups on his end), they came after me. I of course paid the outstanding balance (as well as the massive interest), but now wonder what my rights are. Can I sue him for any amount of the money? Would I have a case in a small claims court if the primary account holder refuses to be contacted and never attempted to pay even while being employed? Thanks in advance.
1 Answer from Attorneys
Re: Co-signing for someone who refused to pay!
You certainly can sue him for the entire debt and I'd strongly suggest you do that. Indiana Small Claims now has a $6000.00 jurisdictional ceiling on the amount for which you can sue. So unless the claim is for much more than that, I'd opt for the Small Claims venue. But realize that when you get your judgment, you'll have what those collection agencies had: hang ups and empty promsies to pay. Collecting a judgment is usually much more difficult than getting it.
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