I co-signed. Other party never paid. Can I now get my money?

Question

Back in 2002, I co-signed on a credit card for my niece. The balance she racked up was $2000. She never made a payment on it forcing me to eventually pay off the balance. I didn't want it on my credit report. Can I take her to small claims court and get my money back? Or would that be pointless since it was 6 years ago. Can they garnish her wages? Or get a bank judgement against her?

Answer 1

I would take the party to small claims court

Answer 2

i dont know if you can do anything bc you are the one that co-signed so you said that you would be responsible for it if she did not pay it. try going to one of those lawyers and that dont get paid unless you do and see what you can do

Answer 3

You might have the grounds for a breach of promise civil case but for such a small amount, legal action would probably not result in your getting the money. A judgement for the amount, should you win, does not mean you will ever really get the money. I would drop it and move on.

When you co-signed, it made you equally responsible for any debt accrued should your niece default. That's what happened, unfortunately, but you knew that when you co-signed. You're probably better off to chalk this up to 'lesson learned' regarding co-signing for credit cards, car loans etc.

Answer 4

It is your niece! So go to your brother/sister or their spouse, i.e. the parent. Talk to the girl and her family. As it was said, a court judgment will not get you the money - perhaps a little bit of good moral is left with your niece and/or the parents. Propose a payment plan if she has a job. Take the first $100 or 200 right then when it is promised. Follow up - you left it a long time and may have given the impression that you do not need or want the money ...

Answer 5

You may have a statue of limitations issue with trying to sue her now for the monies,  when did you pay of the balance? for at that point the time line for statute of limitations would start