QUESTION
Can I sue the borrower of a car loan I co-signed for?
Asked on Jun 10th, 2020 on Civil Litigation - Mississippi
More details to this question:
I was the co-signer on a vehicle loan for my cousin in 2008. He stop making payments on the loan and the truck was repossessed and resold so he owed the difference. They garnished his check until he got fired from his employer at that time and didn’t pick the case back up until 2017. That’s when they filed a judgement against me and garnished my check from 6/20/2017 until 6/5/2018 for a total of $10,094.33. Can I sue the borrower of a loan I co-signed for, if they had the vehicle repossessed and the collections agency garnished my check for the payments? What are the statue of limitations on this type of lawsuit?
1 ANSWER
Yes, you can sue to be indemnified for the payments you had to make. I don't know the Mississippi statute of limitations on indemnity claims, but you probably should hurry as it has now been approximately 3 years since your claim accrued.
Answered on Jun 11th, 2020 at 7:46 PM