Learn Ask A Question Get Help
Home > Law Advice > FreeAdvice Answers > California Business > FreeAdvice Question and Answers
in   from 


    

Question: Business - California

Asked on 10/2/2009
We cosigned for a loan, and our son is not making payments, he has missed 5 payments, can we take him to civil court and have his wages attached $38K
will a civil court award us the ability to attach his wages for the full loan amount? He has missed 5 payments, bank has sent us notices, but in order to protect our credit we pay every month. the loan amount was 18K but amortized out the full lenght of the loan with intrest it will be $38,098.80 can we get a judgment now for the full 38,098.80 amount so that we can attach his wages were he works? we live in California.

 Notify me of updates.   Answer This Question!      Question Offensive or Inappropriate?

This question received 51 views.    
|More

Answers (1):

AttorneyPages has verified that this person is an attorney.

I see this situation far too often.  It is a shame when children take advantage of their parents in this way.  

Your remedies depend upon the documents you signed.   In addition, the interest rate on this loan seems to be quite high.   This is a bad loan from beginning to end.

Since you are liable for this entire loan, you need to take a more aggressive approach to the situation in order to minimize your losses.

I urge you to get legal advice on your options.  One of those options would be getting a judgment against your son and garnishing his wages.

Contact me for legal advice.

Robert J. Spitz

909 395 0909



  • Answered on 10/4/2009
  • Rating:
  •  Rate this answer






AttorneyPages.com
HACKER SAFE certified sites prevent over 99.9% of hacker crime. State Law Center  |  Legal Resource Directory  |  Legal Articles  |  Insurance Advice and Quotes  |  FreeAdvice Answers  |  Community Forums
Media  |  Privacy Policy  |  About Us  |  Contact Us

FreeAdvice® has been providing millions of consumers with outstanding legal and insurance information and general advice, free, since 1995. While not a substitute for personal advice from a licensed professional, FreeAdvice is available AS IS, subject to our disclaimer and conditions of use.
FreeAdvice®, AttorneyPages®, ExpertPages® are registered trademarks and units of Advice Company.
All Rights Reserved © 1995-2010