co-signed a loan and got stuck paying it

[lego3k1]

Well about two years ago, i co-signed a student loan for a friend of mine. It is now in repayment and for about three months he didn't pay it. then he payed it for about two months and then stopped again. i Have been making the payments on this loan now ,and have been printing the proof of payment also every time.
My question is my ex-friend now is a dead beat. He has nothing, he is saving up money from what i hear to buy a car.
If i take him to small claims court, what is the possible outcome? I Want to know if i should just take this as a lesson learned or if i have some chance of seeing some of that money again.
The balance on the loan was 4,000 $ And i already payed it off in full, and if you need more info also let me know. Thanks to everyone in advance

 

[jharris352]

I would take him to small claims court and get what you can when you can. Getting the judgment won't be the problem, collecting will be the issue. You can take property, garnish bank accounts, and wages to get your money. I would do it.

 

[mightymoose]

If you get a judgment against him then he won't be getting a new car any time soon- and since you know him it should be easy enough to get the info you need to garnish his wages.

One good approach is to ask him for it. See if he will give you any amount, even $20-50 per month and keep documentation... if he does then it will be even easier to get the judgment if you go to court since he has acknowledged his debt to you.