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Collections Law/Co-signed nephew's apartment ..now in collections
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QUESTION: Hello, I renetly co-signed, (like a dummy!) for my nephew's apartment . He and his girlfriend broke the lease after 10 months. I knew nothing of this and received a letter from a collector I owe $7,000.00. I tried to call Original apartment complex manager, she says not sure if she can deal with me or if i have to deal with collector. What are the implications if I don't pay, are their limitations to how long they can pursue me. Do they have to accept a payment plan from my nephew or can they pursue me? Can I be taken into court? HELP!!
Thank You
Gino Scolari Sr
ANSWER: Your nephew didn't pay and you cosigned so yes,you are stuck and yes they can take you to court and get a judgment. Of course, you can also take both your nephew and his GF to court and sue them. Just as the apartment complex can take you to court and get a judgment then freeze your bank accounts and take their money from there and they can also garnish your wages you can also do the same to both your nephew and his GF. And of course, the landlord can do all of that to them too. Of course, by the time they do all that the debt will be a few hundred or even a few thousand more than it is now.
---------- FOLLOW-UP ----------
QUESTION: what are the statute of limitations on collecting this debt in California, do they have a duty to try and collect from the primary signers before attempting to collect from the co-signer?
Normal statute of limitations would be 4 years on a written contract but you didn't have any written contract with your GF so all you had was an oral agreement if that. But your damages started when the bank started bugging you for the money so I wouldn't worry about any statute of limitations unless they have ran out on the original debt. You have two different sets of situations here. Statute of limitations would be different for each of them. They usually try to collect from whomever they can. Co-signers are usually a better bet for them because they usually have more to lose by not paying up than does the other person. Cosigners usually have more assets too.
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Answers by Expert:
Creditwrench
Expertise
Debt Collections law, Fair Debt Collection Practices Act (FDCPA), Fair Credit Reporting Act (FCRA), federal law, how to properly answer court summons for collection cases, how to prepare federal cases against debt collectors, how to deal with debt collection phone calls.
Experience
I've been an active consumer advocate for more than 40 years and have helped hundreds of people win cases against debt collectors as well as helping them defeat demands for summary judgment lodged against them by banks, debt collectors and defeat mortgage foreclosures and keep their homes.
Education/Credentials
Paralegal courses for the most part.
I have been teaching people how to deal with judgments, mortgage foreclosures and other such problems both on and off the internet for many, many years. I am a Richard Cornforth information provider ever since 2000 and worked with many other organizations and causes since 1980. I was Oklahoma State Chairman for the nationwide drive to defeat the Constitutional Convention which was proposed by various factions within our federal government such as the Council of State Governments and the National Organization of State Governors who were working hard to organize a Constitutional Convention to be held in 1995 for the purpose of rewriting our American Constitution to be more acceptable to the United Nations. I worked with Senator Charles Duke of Colorado and Senator Don Rogers of California and many others across the nation to keep them from getting the number of delegate states required to lawfully hold a Con-Con and we were successful. I have worked with many other legislative issues in Oklahoma and have always been very successful.
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