Posted on: 11th Aug, 2009 01:37 pm
A friend of my husband's co-signed a personal loan for him. My husband has had a back injury and has been out of work since Jan-he has not been able to make 3 of the payments and it is all I can do to make the monthly bills. We have no money and have informed the co-signer in a timely manner when we are unable to make the payment. He is furious, and I do not blame him. The injury is unfortunate and if we did have the funds to pay, we would. We had not been late for 2 years. The co-signer is now taking my husband to small claims court to for the 3 payments. We don't know what to do. Although my husband has defaulted, I thought that the agreement of the co-signer is "will pay if the borrower can't" . Any advice on how a small claims court in NC will look at this?
a cosigner is liable, period, and not only if a borrower cannot.
what you'll have to be certain to do is to attend the small claims court hearing so you (your husband actually) can answer the charges and defend himself. bring documentation if you have it.
i don't suppose there's any way to readily figure out how the court will look at it, but i surmise that if you bring all the ammunition you have that it will be favorable for you. after all, the cosigner presumably signed that note with both eyes open (and if he didn't shame on him).
you're genuine, i believe, when you say you don't blame him for being furious. i wouldn't be pleased either, in his shoes, but i also wouldn't bring someone to court whose injury couldn't have been foreseen.
i hope you're successful, but be sure to make that appearance. otherwise, you lose.
what you'll have to be certain to do is to attend the small claims court hearing so you (your husband actually) can answer the charges and defend himself. bring documentation if you have it.
i don't suppose there's any way to readily figure out how the court will look at it, but i surmise that if you bring all the ammunition you have that it will be favorable for you. after all, the cosigner presumably signed that note with both eyes open (and if he didn't shame on him).
you're genuine, i believe, when you say you don't blame him for being furious. i wouldn't be pleased either, in his shoes, but i also wouldn't bring someone to court whose injury couldn't have been foreseen.
i hope you're successful, but be sure to make that appearance. otherwise, you lose.