My question involves collection proceedings in the State of: OR
So I had co-signed on a private student loan for my brother a few years back. We had discussed in detail what the loan was to be used for, and of course in months it was all gone and not spent on what it should have been.
He was going to school off and on, which kept the loan in deferment. But when he finally stopped going, and payments were due he never made a single payment. I made payments several times to try and keep it current. He eventually made 1 payment.
He then gets a back check from getting a 100% military disability claim, but doesn't put a penny towards the loan. Computers, phones, a car, was all more important than a few hundred to keep it current.
So to keep my credit good, since I had to move for a job after being laid off, I had to pull my IRA to pay it off.
He signed a contract with me to pay a certain amount every month. And every month it was a hassle to remind him and get paid. Now it has been 3 months, no payment, he wont answer his phone, I don't hear anything.
So it seems my only recourse is to take him to court. From what I gather it was smart to get a contract signed with him.
Problem is, I don't even know where to begin. He has a guaranteed paycheck from the government, and he is working. So it seems like it should be no problem to get a favorable judgment.
Do I even need a lawyer? Its well above the small claims limit, so I would think so.
What can I expect to happen if I get a favorable judgment? Since he has a guaranteed minimum income, can it be garnished?
And unfortunately this has caused enormous stress to my relationship with my mother...
Thanks for any assistance, I am sure I can provide more information if it is necessary.