Truck, to pay or to sue?

[khender3]

Two years ago I was an idiot and I decided to help a friend out by co-signing a truck with him. He failed to pay it on time, or to keep valid insurance on it. I ended up having to steal the truck back from him and having it voluntarily repoed due to his lack of responsibility with it. The truck was sold but there was still a balance on it. I have been the only one paying on that balance, and the only one who has been contacted by the credit company. Do I have any legal action against the person i co-signed with? Being that he at least be responcible for half of it instead of getting off scott free? The truck was a New Dodge Dakota purchased in the state of Texas. Any info you have on this matter would be appreciated...minus letting me know how dumb i was to get into it in the first place. thanks


Kristina

 

[JETX]

Your problem will be that you took possession of the truck and thereby received benefit (plus the sales price). So, yes you may have a cause of action against your friend, but how will you determine (and prove) your damages??? You can't recover for normal depreciation of the vehicle...

And since virtually all used vehicles start depreciating (some appreciably!) the minute your drive off the lot, you really can't show any 'damages'.