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I cosigned for someone and they are now being threatened with eviction. there are 2 months left on the lease. I am looking for a new rental for MYSELF and am worried that (a) Iwill be billed for the 2 months and /or (b) my rental record will be damaged. Can either of these happen to me?
I hope the person you were foolish enough to cosign for will pay what's owed because you will indeed be liable for both the debt and any other costs (court costs, damage to the apartment not covered by the security deposit, etc.) and a blot on your credit record if an eviction is carried out. I suggest you have a strong talk with this person and appeal to them to get things sorted out. I'm not sure that talking to the landlord will do much good as the LL is running a business and simply wants what's his due - but you could try it as a last resort. Good luck.
I know the landlords on this forum can get quite snarky, but in this case, they are absolutely right...what did you think the point of a co-signing is? I would just try to contact the property manager and discuss options to pay it off (maybe $100 a month or something).
I know the landlords on this forum can get quite snarky, but in this case, they are absolutely right...what did you think the point of a co-signing is? I would just try to contact the property manager and discuss options to pay it off (maybe $100 a month or something).
snarky my arse...anyone with an ounce of sense knows you don't cosign anything for anyone....EVER! Unless of course, you have the money to pay the loan up front, pay the car off, pay the house off, pay the remainder of the lease off and pay any court and legal fees..........if you do, then sign away.
However, I like my money where it is..in my bank...it help my family..not some yahoo who needs a cosigner in the first place.
I cosigned for someone and they are now being threatened with eviction. there are 2 months left on the lease. I am looking for a new rental for MYSELF and am worried that (a) Iwill be billed for the 2 months and /or (b) my rental record will be damaged. Can either of these happen to me?
Let me reword that for you..
Quote:
Originally Posted by bethelliott
Hi! I promised, and signed a contract stipulating that I'd be financially responsible for a third party. Now this party is financially irresponsible. Am I financially responsible for this third party?
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