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  • Auto Loans and Financing
  • Repossession
  • Co-signing

Can the bank take things that the cosigner owns or has financed if the car is repoed?

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βˆ™ 2011-09-12 16:02:40

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The co-signor IS liable for the debt if the car is repoed. The bank can get a judgment against the co-signor as well as the signor. They can garnishee wages and/or get leins against BOTH signors other property. Anything that has a prior lien on it will be subject to the PRIOR leins being satisfied first.

2011-09-12 16:02:40
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Related Questions

What things can be forced to be repoed?

Anything that you might need a bank loan to get.


Can a bank repossess if the borrower defaults and there is a cosigner on the vehicle?

The cosigner becomes the target next. If you default, it is up to the cosigner to pay the bill or both of your credits are ruined and the bank takes their usual steps to repossess a vehicle.


If your car was repossessed but redeemed by the cosigner can the bank report a repossession on your credit but not on the cosigner's?

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Does a cosigner have rights to the car?

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Why would a bank sell someone's car?

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Does the bank still collect from a deceased co signers estate if the property was sold?

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If the cosigner of a home loan dies will the bank go after his estate for repayment?

My belief is that as long as the mortgage is paid on time by the borrower, there would be no reason to go after the cosigner estate.


Who do you contact to haul repoed cars for the bank But not doing the actual repo?

that all depends on what state you want them hauled in


If you are a cosigner on a car loan and the bank reposses how long is your credit affected?

Seven years.


What are the synonyms of the term 'financed'?

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If I take my car back to the bank that financed it will they process it as a repossesion?

Yes because that is what it is.


Who financed Lenin?

Lenin and the Bolsheviks were financed in many ways. Some were by contributions from supporters, bank robberies (mainly by Stalin and called "expropriations") and the German government.


Can you sell your car before it gets repoed?

Even if you could you would still owe the bank the money they paid for the car.


Can a salvaged title car be financed?

Answerno.I have a car that is financed through a bank. I recently found out that it has a salvaged title and I am having problems with getting full coverage insurance. the bank along with me didn't know it was a salvaged title at the time so what can I do.


The government needed a national bank in 1832?

To keep it's financed value in order.


You are a cosigner on a car loan how can you prove the other person pays it if they make the payments directy to the bank in a cash payment?

Request monthly statement from bank


Can a person take a car out of state without permission of cosigner?

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After the vehicle title has been issued can the bank request a change of title and have the cosigner added.?

In most states, yes, the lender is actually the 'owner' until the loan is paid off and can require that the cosigner be on the title.


Can most students get a loan without a cosigner?

You can get a loan if you are a student without a cosigner however it can also be a little tricky. I would suggest going to your local bank and chatting to a financial advisor for better advice.


What is it called when a car dealer gives the bank false information about a car in order to get it financed?

Fraud


Can you get a loan for a vehicle with a cosigner at 16 years of age?

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It depends on the bank but generally one missed payment is enough to call the cosigner


Can the Bank go after the cosigner for a balance that was settled with them before a bankruptcy?

yes, unless the co-signer claims bankruptcy