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Old 10-08-2006, 07:21 PM
Mathew Green Mathew Green is offline
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Default Re: I am a co-signee for a loan and the beneficiary is defaulting on the loan payments.

Quote:
Originally Posted by Ima saver
And that usually costs you money!
And unless you've got something in writing that says you'll own [whatever] if you have to take over the payments, all you're likely to get from the court system is a 'judgement' which says they have to pay you the money. When they fail to pay, which they probably will, you have to go back to court for an order attaching their property, wages, or whatever to settle the debt. It ain't easy and it ain't pretty.
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