What can I do if I co-signed for a small loan with my ex-girlfriendbut she stopped paying the monthly installments
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What can I do if I co-signed for a small loan with my ex-girlfriendbut she stopped paying the monthly installments
What can I legally insure that she continues to make the payments?
Asked on March 13, 2012 under Bankruptcy Law, New York
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
You can bring a legal action to recover the amounts she should pay; but in the meantime, if you, as co-signor, do not ensure that the loan is paid, your credit rating will be damaged and you will potentially be sued by the lender. For small amounts--several hundred dollars--you may wish to sue your ex-girlfriend in small claims court, acting as your own attorney, to avoid legal fees; for several thousand dollars, you should retain an attorney to help you. Good luck.
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