Legal Question in Civil Litigation in South Carolina
Guarantor Laws
In March'2003 I became Guanrantor for a friend's father, on a Car loan. I live in Texas and they are in South Carolina. Till November'2003 they made the Car payments on time but after that they started making late payments, which has started affecting my credit history. The friend's father has left the country and he doesn't plan to come back except for visiting my friend sometimes.The friend is driving the CAR now. She makes payments when it suits her since it doesn't affect her credit history. I got a copy of the title of the car to check if i had any rights to the car and it does not have my name on it. Only name on the Car's title is the friend's father's name. Is there something I can do to get the CAR , I'm ready to payoff the loan if the CAR is mine to sell off. Pls advice what I can do to get out of this bad situation. I tried working with them cordially but they are being very rude. I don't know what to do now. Pls help. Can I sue the 'friend' for spoiling my credit history????
1 Answer from Attorneys
Re: Guarantor Laws
I guess you could, if you could figure out the damages caused by their casual behavior. Of course if you have to make any payments as guarantor, you can sue for those money damages as well.
If your name isn't on the title, you don't have an ownership interest in the car.
Write to the credit reporting agencies and get their forms for adding explanations to your credit report. Foolishness once will make you a better credit risk. Particularly if you explain exactly why you guaranteed a loan for someone.
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