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Co -signed on note for $6000

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wieneboy

Guest
Co -signed on note for $6000, please answer one little question.

What is the name of your state? Florida
Hello everyone, I cosigned on a note so my friend could buy a business. Now I'm being sued for $6000. The business he bought wasn't really what it was represented to be and now my friend is having some problems repaying. Regardless, my friend still wants to pay he just needs a little more time and the plaintiff says no more time - the money or the court !!! If we go to court is a judge allowed to find for the plaintiff and allow time to pay? We do want to pay.
 
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Jeter

Member
Don't worry about your friend. He can walk away Scott free. It's you that will owe the $$ in the end. Business ventures come with no guarantees. They're a gamble. Unfortunately, your friend picked the wrong venture and you will pay for it.

As for what the judge will think and what will happen? I could only tell you if I had a crystal ball.

Jeter
 
D

dadrummer

Guest
Unfortunately in cases like yours, the judge has very little to think about. The judge may sit there and go through the motions and may even let your friend tell his story. But, in the end, this is pretty much open and shut. You co-signed a loan that is now in default. The judge will say"judgement for the plantiff, $6,000 plus attorney fees (20%??) and cost of court."


I'm just curious. Has the creditor also sued your friend?
 

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