angrysister
Junior Member
What is the name of your state? Mississippi, Illinois (I am not sure which state would have jurisdiction - I live in MS, my brother lives in IL)
I co-signed on a car loan for my brother two and half years ago. He had no payments due for the first year, and when the payments started he told me he was making them. Four months later I received a letter stating that no payments had been made on the loan and the car was in repossession. In order to save my credit from additional harm, I paid the car to get the payments current (borrowing from my credit card) - approximately $2,700 including late fees. For the next 8 months I made the payments, with occasional reimbursement from my brother (under constant nagging). I made three payments during that time without reimbursement, totaling over $2,000.
After I purchased my house in September 2004, I stopped making payments. The car was repossessed in December 2004. The company sold the car, and I am currently paying the remainder of the loan (approx. $10,000) on my own. I have made two payments (one in February and one in March) of $1,014 dollars each, I have one payment of $605 due this month, and payments of $455 for the next 14 months until the debt is paid.
My brother promised to send me at least $300 per month to cover these payments. He has sent me $100 - that is it!! While I understand that I am equally liable for the loan, do I have any recourse to sue my brother to try and recover the almost $7,000 I have already paid on this loan, in addition to the remaining $8,000 I still owe and will likely pay without reimbursement?
I have tried every other avenue I can think of - threats, crying, yelling, getting my mother involved, etc. and nothing has worked. I just want some vindication and at least some of my money back!!!!
I co-signed on a car loan for my brother two and half years ago. He had no payments due for the first year, and when the payments started he told me he was making them. Four months later I received a letter stating that no payments had been made on the loan and the car was in repossession. In order to save my credit from additional harm, I paid the car to get the payments current (borrowing from my credit card) - approximately $2,700 including late fees. For the next 8 months I made the payments, with occasional reimbursement from my brother (under constant nagging). I made three payments during that time without reimbursement, totaling over $2,000.
After I purchased my house in September 2004, I stopped making payments. The car was repossessed in December 2004. The company sold the car, and I am currently paying the remainder of the loan (approx. $10,000) on my own. I have made two payments (one in February and one in March) of $1,014 dollars each, I have one payment of $605 due this month, and payments of $455 for the next 14 months until the debt is paid.
My brother promised to send me at least $300 per month to cover these payments. He has sent me $100 - that is it!! While I understand that I am equally liable for the loan, do I have any recourse to sue my brother to try and recover the almost $7,000 I have already paid on this loan, in addition to the remaining $8,000 I still owe and will likely pay without reimbursement?
I have tried every other avenue I can think of - threats, crying, yelling, getting my mother involved, etc. and nothing has worked. I just want some vindication and at least some of my money back!!!!