Legal Question in Credit and Debt Law in Pennsylvania

cosigner of a loan that goes into default

I live in pa and my dad made a big mistake (guessing 10 yrs back) by cosigning a loan for my brother for a truck which he obviously could not afford and it got repo ed quite a while back as well. After it happened he was harassed for a while via phone then it seamed to quite. I had my dad talk with an attorney and the attorney said as long as everything is in both my parents name, the bank would not be able to collect.

Recently my idiotic brother filed bankruptcy and next thing I know my dad realized $600 was withdrawn from his checking account. Which was taken out by the collections agency. Apparently my dad got a letter before that stating this was about to occur. The total amount needing collected is 14,000.

Now my question is : 1. Is this legal for this to happen?

2. What should my dad do?

Thanks for any advice.


Asked on 5/25/06, 12:35 pm

1 Answer from Attorneys
Gerald Hershenson Law Office of Gerald M. Hershenson

Re: cosigner of a loan that goes into default

The only way money can be garnished from a bank account was if a law suit is filed and a judgment entered. Your father has a legal judgment against him. I suggest you seek the advice of an attorney. Further investigation must be done. Gerald Hershenson Esq.

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Answered on 5/25/06, 1:19 pm


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