Can Cosigner Take Property?

cloudy_gurl777 · #1 03-10-2008, 06:03 PM

I cosigned for my now ex-boyfriend in Dec. 2006. His band had a gig that night and part of their equipment broke. It was going to be $200, but no one had the cash or the credit, so my then boyfriend wanted to open a Guitar Center charge card. I cosigned on it because they had all agreed to each pay $50 from their next paychecks to cover it.

We broke up shortly after that. He moved away. When I was checking my credit report six months down the road, it said that the account was up to just under $600! I called and closed the card immediately. I know he's irresponsible, so I tried to just save my credit by having the payments switched to my address ASAP, but they wouldn't do it. I hunted him down and tried to get him to just send me the payments because he said he couldn't make them, but he wouldn't because he said he would eventually have the money!

Now, March of 2008, I have finally gotten this horrible letter from the debt-collecting lawyers of the company wanting me to pay on his debt ($789). The letter does says I can dispute any part of the validity of the debt within 30 days, or it will be assumed to be mine. I don't think I can dispute that I cosigned saying I would pay if he didn't, but can I just pay for the principle and not the late fees/court costs/ etc that have or are going to be tacked on?

Do I have the right to the actual property that he purchased since I'm going to be paying for it? Would taking him to small claims or anything help me? I don't think he'd just GIVE me the stuff (he's an asshole, that's why he's now EX)... I'm 20 and I've never dealt with any of this stuff before, as much info as possible would really help.

cloudy_gurl777 · #2 03-10-2008, 06:16 PM

Also, can I take him to court and make him repay me for this money I'm going to be out?

gigirle · #3 03-10-2008, 06:57 PM

Your stuck with the bill. Try and negotiate for a lesser payment. Take him to small claims court ... all of the band members or just the one that you can get them money out of that agreed to pay the cost. You can do this at any time just contact your local small claims court.

cloudy_gurl777 · #4 03-12-2008, 12:55 AM

So, I've looked into this a little further. Should I type up a Promissory note to make the Ex pay me back for making the (I would like to say "his") payments, or should this be a property claim issue? I'm not sure I can take him to small claims since he has retained all of the bills, receipts (not like he freakin' kept those anyway probably), propery purchased, and overall everything that has to do with the account except for the money to pay the bill. The bandmates probably won't give me a written testimony that my Ex said he would pay for the card because they wouldn't want to possibly be dragged into the payments.

Should I just get a lawyer? I live in Indiana and I'm sure I can find a cheaper, more rural, lawyer that could help me. What do I do, just tell them my whole speel and see what they tell me to do? Do they typically charge for a "consultation"? I have no idea where to go with all this, even if I do decide to go to small claims (try to get the property, not that I even know what the h*** he bought since he has the receipts and the d*** company won't send me anything, or get the money-but if I get the court to award me his money, couldn't he just make the payments himself)....Help?????!!? Please.

usedbranflakes · #5 03-12-2008, 02:07 AM

First -
Dispute the bill; send the dispute certified with a return receipt requested.
Dispute the bill with the big 3 credit agencies.
This will buy a few weeks of time until they can get all of the paperwork in place.

When it comes back:
Note that you attempted to pay and have the address changed and you were denied the ability to make payments and update the address or recieve a copy of the bill. Hopefully you have the name of the person you spoke with and the date/time.

When it comes back:
Send a letter to the attorney general for your state regarding not being allowed to pay when the account was not in collection and not being allowed to recieve a copy of the bill.
If they do not let you pay on the bill but they report on your credit, that is a potential FCRA violation.

By this time you should have been able to chase down your ex and his deadbeat friends and get some money out of them. Either that or ask for the band equipment to be reposessed.

cloudy_gurl777 · #6 03-12-2008, 02:30 AM

Thanks!

I found an online Debt Validation form/letter and I am going to fill that out and send it back to the lawyers. Thanks for giving some direction! I really appreciate it! I've been pulling my hair out trying to figure out all of this information and where to start, and then go, with it! Like I said, I've never dealt with ANYTHING before in terms of legal matters.