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I co-signed for a friend on a set of jet skis. They made their payments on time and regularly the first 3 years. Come late 2005 the bottom fell out. Late , late, late 10 out of 12 months in 2006 and in 2007 decided to stop making payments without letting me know. I had to take them over to get my credit up and stop the late payments and brush off the collection agencies. I had to shell up $2386 dollars to return to good standing. I eventually had to take a huge loss in order to sell the 6 year old jet skis but realized it very necessary since finance charges would mark my doom anyhow. Will I be able to at least regain the $2386 in small claims court/

Customer (name blocked for privacy)

Status: Closed Value: $30

Dear Customer (name blocked for privacy),

If your agreement was to only allow them to borrow your credit, and they are the ones who got the benefit of the skis, then you can likely (nothing is ever 100% in court) succeed in small claims.

Normally, as you say you sold the skis at a loss, you will be able to claim from the court the amount of money you paid the banks, including likely any late fees or penalties, less the amount you sold the skis for.

PLEASE NOTE: Responses here are for information/education only, NOT legal advice and do not form attorney-client relationship! Only licensed attorneys you hire in your state can provide legal advice.

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