Legal Question in Credit and Debt Law in Utah
Co-signer for .loans
I co-signed for loans for my nephew, who had legal problems and pleaed to me for bail money. In addition, he had proposed to his girlfriend for marriage. And again pleaed for help to secure a loan to purchase a ring.
Sense that time, he has made himself unavailable for repayment. He has not allowed collection agencies, or myself to contact him. So the creditors are coming after me for payment. I do not have any income, as I care for Mentally Handicapped People in my home.
What are my options, and what type of legal attorney will I need to have. I wish to pursue this through criminal courts, if that is what it takes to resolve this matter. The person has betrayed all family trust, and is on the run from all resolution.
Thank you
2 Answers from Attorneys
Re: Co-signer for .loans
You should be more careful to whom you lend money!
You've simply loaned money to the wrong guy, unless you could prove that he never intended to repay the loans and use of your credit (very hard to prove). The kind of lawyer you need is one who will sue this guy to recover your losses. Any lawyer.
Re: Co-signer for .loans
Your nephew took advantage of your good nature. You will have to pay off the loans or suffer the consequences of collection (judgments, garnishments, etc.) You only recourse to avoid payment would be bankruptcy. Unfortunately there is little, if anything, you can do in a legal nature against your nephew. If you are sued, he will also be sued, but of course the creditors can find you and will attempt collection from you. You can sue your nephew for indemnity, but it does not sound likely that he would make payment. Your nephew could be held civilly liable for the amounts which he borrowed from you, but it is not likely that he could be prosecuted criminally, however, you can talk to your local prosecuting attorney's office for more details.
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