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Tia Nepi

Guest
I met a woman through my church choir and became friends with her. We had been friends for almost two years when she asked me to co-sign a loan for her so she could buy a sofa. When I went to co-sign the loan, the company said that her credit was not good enough for her to be on the loan. I agreed to open the account and allow the purchase of the sofa if she agreed to make the payments before the interest was due to start hitting the account. She never did that(12 months went by). Once the bill was actually due, she gave me two or three payments and then stopped. She also borrowed other monies from me which she has since paid back.

In order to avoid the high interest rate that was being charged by the furniture company, I transferred the balance of the furniture account to a home equity loan where the interest rate is lower. I have asked her repeatedly to pay me something, anything, but she has not done anything in the past five months. The only communication we have is when I call her. Sometimes she doesn't return my calls or my e-mail and other times she will, but always with an excuse and a promise that is never kept. What was originally approximately a $700 debt to me has now accumulated to $1300 and is still rising. I am charging her the same monthly compoundedinterest that is being charged to me. I am not sure, other than taking her to small claims court, of what to do.

She still lives in Florida but has since moved to a location about an hour away into her boyfriends apartment with him. (He happens to be a lawyer). Can I ask her for the sofa, which is actually mine? Assuming she gives it to me and I am able to sell it, can I deduct the fair amount of the value of a two year old sofa from the current amount she owes me and still claim collection on the remainder of the amount owed? Or, will claiming back the sofa, eliminate any debt still owed?

Also, just to let you know, I have e-mail communication from her promising me payment on several different occasions as well as a written piece of paper signed by her stating she would pay me "x" amount of money from every other paycheck dated almost 9 months ago that has never taken place. What suggestions do you have, if any?

Thank you.
 


I AM ALWAYS LIABLE

Senior Member
Tia Nepi said:
I met a woman through my church choir and became friends with her. We had been friends for almost two years when she asked me to co-sign a loan for her so she could buy a sofa. When I went to co-sign the loan, the company said that her credit was not good enough for her to be on the loan. I agreed to open the account and allow the purchase of the sofa if she agreed to make the payments before the interest was due to start hitting the account. She never did that(12 months went by). Once the bill was actually due, she gave me two or three payments and then stopped. She also borrowed other monies from me which she has since paid back.

In order to avoid the high interest rate that was being charged by the furniture company, I transferred the balance of the furniture account to a home equity loan where the interest rate is lower. I have asked her repeatedly to pay me something, anything, but she has not done anything in the past five months. The only communication we have is when I call her. Sometimes she doesn't return my calls or my e-mail and other times she will, but always with an excuse and a promise that is never kept. What was originally approximately a $700 debt to me has now accumulated to $1300 and is still rising. I am charging her the same monthly compoundedinterest that is being charged to me. I am not sure, other than taking her to small claims court, of what to do.

She still lives in Florida but has since moved to a location about an hour away into her boyfriends apartment with him. (He happens to be a lawyer). Can I ask her for the sofa, which is actually mine? Assuming she gives it to me and I am able to sell it, can I deduct the fair amount of the value of a two year old sofa from the current amount she owes me and still claim collection on the remainder of the amount owed? Or, will claiming back the sofa, eliminate any debt still owed?

Also, just to let you know, I have e-mail communication from her promising me payment on several different occasions as well as a written piece of paper signed by her stating she would pay me "x" amount of money from every other paycheck dated almost 9 months ago that has never taken place. What suggestions do you have, if any?

Thank you.
My response:

You answered your own question. Small Claims court.

IAAL
 

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