About Michael Brotherton Expertise Consumer/Debtor Rights Advocate.
Mike Brotherton is a negotiator with over 30 years experience in consumer lending and collections. Mike has 30 years in the credit and collections industry as a former loan officer, debt collector and manager of two finance companies over several years.
Mike is well versed in Loss Mitigation practices and the legal collection process. He has helped literally thousands of people over many years overcome serious financial problems such as foreclosure, creditor lawsuits and abuse by debt collectors. For more information about resolving your "financial emergency" visit www.financialemergency.com.
FinancialEmergency.com is a consumer web site which actively promotes Fair Debt Collection Practices and other consumer protection laws. We teach DEBTOR RIGHTS and enforcement of those rights. The more informed you are of your rights and the credit collections practices of creditors the more peace you can have dealing with your FINANCIAL EMERGENCY.
Most financial problems are fairly common and as such have some very common solutions. The key is understanding your rights in the collection process and how to enforce them if need be.
Primary business- Debtor Rights Advocacy and Debt Mitigation relating to foreclosure, creditor lawsuits, and other serious financial problems.
www.financialemergency.com (copy and paste in browser).
Experience 30 years experience negotiating disputes and resolving financial issues related to consumer debt, corporate debt, and mortgage restructuriing.
Question i helped a friend purchase tires for there car on my good year credit card. when tires where bought they sign all the paper work in there name no where is my name on it. i have the original receipt. they made two payments and then quit paying and then ended up getting a bill saying it was late and now in collections. can i sue for the full amount and ruining my good credit
Answer I assume the paperwork that was in their name was the invoice and warranty, etc... but the charge slip was on your account. My question is did you have a written agreement from the friend? If not you may have a hard time proving your case on the credit. I would doubt a court would grant you a judgment on the credit issue but you may be able to prove your case to get a money judgment against your "friend".
I assume you have a small claims court in your area. First obtain copies of the invoice and charge receipt and any other documentation. Go to your small claims court and write out a complaint, pay the filing fee and have your friend summoned to court. Tell your side of things and ask for the full amount of the debt and any "actual" damages. More than likely you will have to prove actual monetary damages to get awarded anything over and above the debt itself. You can try but...
I recommend that you never even consider co-signing or using your credit for anyone. Not your kids, family or friends unless it is an absolute emergency and even then think twice. Lending money is one thing, lending credit is quite another. It always turns out bad.
