Legal Question in Credit and Debt Law in New York

Re: co-signer obligations

This is a difficult situation. While they should look to your brother first for payment, they have a right to go after you if he does not pay. The 'transfer the balance' threat is foolishness - pay no attention. But they can get a judgment against you and collect it through garnishment.

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Re: co-signer obligations

Attorney Nitzberg is right on point. There is an idle threat.

Good Luck

RRG

Re: co-signer obligations

You have to look at the agreement you signed to determine if the credit card company can go after you before they go after your brother. Most times, the collection agency will make demands that are not backed up by the written agreement, under the theory that if you don't know your rights they can "trick" you into paying the debt down faster than they are legally entitled to...As long as your brother is paying my guess is that they won't take it further...but if he stops they do have the right to sue you for the unpaid obligation...you did sign for the loan. Of course, you have the right to get the funds from your brother...since he did receive the benefit of your generosity. My advise is these situations is to do nothing. If they want to sue you they will and then you can make a deal with the attorney (the principle is no one wants to work hard if you are willing to deal...they'll take less to make their job easier.