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I Cosigned for My Sister’s Truck and Now She Can’t Make The Payments. – James

By on August 23, 2010
I Cosigned for My Sister’s Truck and Now She Can’t Make The Payments. – James

“Dear Steve,

Hello..my question is I co signed on a lease for a truck for my sister..dumbest thing I’ve ever done. It’s got bout 10 payments and she cannot Pay it either can I. What are my options what can I do to not hurt my credit anymore?

Screwed and regretful

Anything I can to not have keep making the $600 payment anymore and give it back

James”

Dear James,

The only thing I can think of is for you to find someone else the leasing company will qualify to take over the lease.

If you hand the truck back you should expect the leasing company to sue you for the balance due since you are the co-signer.

Please update me on your progress by posting updates here in the comments section of your question. I’m very interested in how this works out for you.

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About Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

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