Co-sign a load

[steveoh]

Co-sign a loan

What is the name of your state? Washington state

I co-signed a loan for 5k to a family member. That person never paid the loan, and I was contacted by a collections agency claiming the bank was unable to locate me. The loan was charged off. I paid the loan off to the agency but now I would like to recover my loss. The family member will not acknowledge the debt. and will not repay the lost moneys. Secondly I had to put the money on a credit card, so if I sue are they liable for the interest I had to pay? if I can sue at all?

 

[Ladynred]

Of course you can sue !! Which court, small claims or a higher court, depends on your state laws. You can sue for the amount you paid off PLUS interest and you could even go for damages - your credit was likely dinged because of that person's lack of responsibility.