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You can sue the primary borrower in civil court. The amount will determine which state court will hear the case. You can visit your local court for more information relative to your jurisdiction.
You can sue the primary borrower in civil court. The amount will determine which state court will hear the case. You can visit your local court for more information relative to your jurisdiction.
You can sue the primary borrower in civil court. The amount will determine which state court will hear the case. You can visit your local court for more information relative to your jurisdiction.
You can sue the primary borrower in civil court. The amount will determine which state court will hear the case. You can visit your local court for more information relative to your jurisdiction.
Wiki User
∙ 13y ago
Wiki User
∙ 13y agoYou can sue the primary borrower in civil court. The amount will determine which state court will hear the case. You can visit your local court for more information relative to your jurisdiction.
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Can you sue the borrower if they defaulted on loan if im the cosignor?
Yes, you can sue the borrower and receive a judgment if they defaulted on the loan. They can also sue the cosigner.
Can a cosigner sue the primary borrower for the entire amount of a loan?
You can sue for anything if you can find a lawyer to take the case, but collecting would be something else. You cosigned, promising the bank that you would make any payments that the borrower did not. THERE IS NO AGREEMENT THAT SAYS THE BORROWER WILL REPAY THE COSIGNER. IOW, you are SOOL. After months of unsuccessfully trying to get the person I cosigned the loan for to pay his bill - I sued him. He got scared because he knew I would get the judgment because he agreed to pay this bill and that's why I cosigned in the first place. He knew a judgment on his credit report would cause him lots of problems. So after he received the court summons and we appeared before an arbitrator he agreed to pay an extra $125 per month to settle the loan faster in exchange for me not requesting a judgment. I also received a signed document by him and the court that if he missed even one payment again - it would go into an automatic judgment on his record for the balance due on the loan plus $500. I'm glad I didn't wait for the loan to go into default and ruin my credit before I took action.
Can you sue your ex boyfriend after paid off a loan you cosigned for him and you paid it off now?
You can check with a lawyer, but I will guess probably not. Because you co-signed for the loan, you were legally obligated to pay it off if your ex-boyfriend could not or did not. Therefore, you assumed the risk of having to pay the loan and because of that probably cannot sue your ex-boyfriend for leaving you on the hook for it.
Can a cosigner sue the primary borrower?
Anyone is allowed to sue anyone in this day and age, however, the point of having a co-signer is because the primary borrower may not have a credit profile strong enough to get a loan on their own. When suing someone, the goal is to get paid - if the primary borrower did not have enough money or enough credit strength to get a loan, what, exactly, will the co-signer sue them to get? So yes, a co-signer may sue the primary borrower, however, unless circumstances have changed massively since the shared loan was signed, there will be nothing for the co-signer to go after. Depending on the amount of the loan you can sue in small claims court or a higher civil court.
How do you sue someone who fails to pay a loan?
Judge Judy Usually works.... You can sue the primary borrower in civil court. The amount will determine which state court will hear the case. You can visit your local court for more information relative to your jurisdiction.
If a child defaults on a student loan co-signed by a parent can the parent sue the child to recover the amount they are forced to pay?
No, when the parent cosigned the loan, they agreed to pay what the child couldn't. * Yes, the contract that was cosigned was between the borrower's and the lender. A cosigner has the legal right to file suit against a primary borrower for financial damages incurred due to the primary borrower defaulting on the contract.
Can you sue the borrower if they defaulted on loan if im the cosignor?
Yes, you can sue the borrower and receive a judgment if they defaulted on the loan. They can also sue the cosigner.
How can you protect yourself if you cosign an auto loan?
There is no "protection" for a co-signer except paying the loan if the primary borrower doesn't pay. If you don't pay the loan then your credit will be ruined. If you pay off the loan you can try to sue the primary borrower in civil court but the chance of reimbursement isn't generally good if they needed a co-signer in the first place.Understand that when you co-sign for a loan you are guaranteeing that you will pay if the primary borrower doesn't.
Can a lien be put on home for cosigning a student loan?
If you cosigned, you are the borrower if 1st party doesn't pay. they can only put a lien if they get a judgement first. Remember nothing makes a student loan go away-not even a bk. It just accrues interest forever.
Can a cosigner sue the primary borrower for the entire amount of a loan?
You can sue for anything if you can find a lawyer to take the case, but collecting would be something else. You cosigned, promising the bank that you would make any payments that the borrower did not. THERE IS NO AGREEMENT THAT SAYS THE BORROWER WILL REPAY THE COSIGNER. IOW, you are SOOL. After months of unsuccessfully trying to get the person I cosigned the loan for to pay his bill - I sued him. He got scared because he knew I would get the judgment because he agreed to pay this bill and that's why I cosigned in the first place. He knew a judgment on his credit report would cause him lots of problems. So after he received the court summons and we appeared before an arbitrator he agreed to pay an extra $125 per month to settle the loan faster in exchange for me not requesting a judgment. I also received a signed document by him and the court that if he missed even one payment again - it would go into an automatic judgment on his record for the balance due on the loan plus $500. I'm glad I didn't wait for the loan to go into default and ruin my credit before I took action.
Can you sue some one if you cosigned a credit card for them and they did not pay?
Yes.
Can a cosigner sue the signer?
Yes, a cosigner can sue the primary signer if the primary signer fails to fulfill their financial obligations, resulting in the cosigner having to cover the debts. The cosigner may seek legal recourse to recover the money they had to pay on the primary signer's behalf.
Can you sue your ex boyfriend after paid off a loan you cosigned for him and you paid it off now?
You can check with a lawyer, but I will guess probably not. Because you co-signed for the loan, you were legally obligated to pay it off if your ex-boyfriend could not or did not. Therefore, you assumed the risk of having to pay the loan and because of that probably cannot sue your ex-boyfriend for leaving you on the hook for it.
What can I do about a student loan I cosigned for and they not paying?
Sue them, you have already taken pitty on them, so if they dont show signs of paying ( take your warning) sue them
If the cosigner decides to pay off the loan to clear their property used for collateral can they put a judgment on the primary loan holder to collect the amount paid off?
Yes, the cosigner can sue the primary borrower if they can prove the money paid on the exisitng loan was a loan to the borrower and the person had knowledge of and agreed to the action.
Can a co signer sue the car owner?
Generally, yes, assuming that the "car owner" is the person who took out the loan that was co-signed AND that the owner defaulted on the loan and the co-signer was forced to pay the balance of the loan. Typically, the main borrower, i. e. the car owner, is primarily liable for the loan while a co-signer is only secondarily liable. This means that the co-signer has no obligation to make payments unless the primary borrower defaults. In most contracts involving co-signers, the contract will have a provision that if the co-signer has to pay on behalf of the primary borrower, then the primary borrower must indemnify the co-signer. If the primary borrower refuses to pay the co-signer, the co-signer can sue the car owner to recover what he paid for the car owner.
Can a cosigner sue the primary for the full amount of loan when the cosigner pays it off?
A cosigner can only sue if the primary borrower signed an agreement for the cosigner to pay the debt and then be reimbursed. The consignor can not sue if they, at their own liberty, decided to just pay the debt.
