QUESTION
What do we do after I co-sign an agreement with bad check?
Asked on Jul 17th, 2014 on Bankruptcy - North Carolina
More details to this question:
I opened a small claims case for $5,000 with $5,000 in interest owed. The case is based on co-signing on a venue rental agreement with another company that did not have business credit as our company does with venue. The company we co-signed for, the owner wrote a personal check for the deposit for $5,000 that bounced. Now we are on the hook for funds not paid from bounced check plus the second missed payment of $2,500 and a breakage fee of $2,500 since we are the co-signer. Is this a case we would be aware in our favor for company we co-signed for to remit the money to us for writing the bad check plus we lost revenues and the venue?
1 ANSWER
Chapter 13 Bankruptcy Attorney serving Winston-Salem, NC
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Love and Dillenbeck Law
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I am confused by your use of certain terms such as venue and aware. Venue, legally speaking means where a lawsuit can be heard. I.E. if I and the defendant live in NC, I can't sue him in California. You need to consult with an attorney before proceeding. I was concerned about your statement that you are owed $5,000 and $5,000 in interest. That seems to be an excessive and illegal amount of interest. Consult an attorney before going any further.
Answered on Jul 22nd, 2014 at 9:58 AM