Legal Question in Civil Litigation in New York

co signing a loan

Last year I cosigned for a 2500.00 loan for what I thought was a trusted employee. After paying it a few months, the employee quit and has now stuck me with the payments. Do I have any recourse on this? I have paid it for the last two months because I don't want my credit damaged, but I am certainly in need of advice, as the loan company could care less and has not given me any help.Thank you.


Asked on 5/25/01, 3:31 pm

2 Answers from Attorneys
Robert R. Groezinger GroezingerLaw P.C.

Re: co signing a loan

I received your post on 6-22-2001.

You have recourse only as against the co-maker of the note/loan. Sue him is small claims or district/county court where he lives.

Good Luck

RRG

Read more
Answered on 6/22/01, 2:57 pm
Garry Hanlon

Re: co signing a loan

you must pay the creditor because you signed

you may sue your co-debtor for the sums

paid as part of your agreement with him for

the cosigning

Read more
Answered on 6/22/01, 10:34 pm


Related Questions & Answers

More General Civil Litigation questions and answers in New York