QUESTION
Can I sue for malice if someone if financially able to pay on a loan I co-signed, but refuses to do so?
Asked on May 10th, 2015 on Civil Litigation - Pennsylvania
More details to this question:
In 2008, I co-signed two loans; a student loan and a car loan. The relationship disolved and so I am still responsible for these loans. Over the next five years, this person made inconsistant payments and damaged my credit. The car is now paid off, but in the posession of the other person. This person wanted to trade in the car, but I said I would only sign off on the car if my name was removed from the student loans, which total in excess of $14K. I have emails from this person stating they are financially able to pay off the loan, but they chose not to in order to ruin my credit and force me to relinquish rights to the car. I am holding on to the car rights as the only tangible item I have to guarantee the student loan payments are made (I can't take away a college degree). I am working part-time and in grad school so I am financially unable to make the payments myself.
1 ANSWER
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I'm really sorry to hear about this -- it must be an ordeal. The relationship is broken and these extra problems I'm sure only add to the pain. You certainly have contractual rights and maybe, just maybe, there is a claim for tortious injury to your reputation. That would be a stretch. Even if you did file a claim, would this person be able to pay or do anyting to ease the burden you're suffering with? Probably not. But sometimes just by filing suit you get a hearing and the situation improves as a result of the deadline or threat of facing up to the music.
Answered on May 15th, 2015 at 3:04 PM