Yes, if the vehicle is repossessed and there is a deficit between the sale and the loan balance, (including fees and penalties)and the borrower cannot pay what is owed.
It is more likely the car will be repossessed by the lending agency, if you have defaulted on the loan. You may also be charged criminally. If you simply took a car without paying for it, this is classified as grand theft auto and, if caught, you will be charged criminally.
It does not matter if you don't have the car any more. What matters is the unpaid loan you took out on it when you bought it. It is because of the loan, not the car, that you are being sued. You can try re-negotiating with the car dealership and with the financial company. If that fails, you can try to hire a lawyer to protect your interests.
The Attorney General
Yes. If the signer defaults on the loan, then you, as the cosigner, would be liable.
Broke, sued, socially ostracized, deceased.
Call the loan company and try to work with them. Next step is you loose the car.
Not for the same set of underlying facts. (not the same incident)
Pay or fight. A default judgment is about the worst outcome.
they can be sued and ordered to pay a fine
In short, if the loan is not paid, everyone on the contract can be sued. If the loan is in both names, then both people are "jointly and severally" liable for non-payment, meaning that they can both be sued if the loan is not paid, and one or both of them must pay the awarded judgment, and the non-paying party may then be sued by the one who had to pay.
It would depend on the type of student loan. Federally guaranteed student loans have no expiration under existing laws, and will indeed reappear and can be collected on and sued over until they are paid.
Most courts, that I have heard of, need a written "contract" with the person taking out the loan signature.
You can only be sued if your name is on the title as well. Financial institutions require a co- signers name on the title. But if it slipped by and your not on the title, you can't be sued.
A person can be sued in any state for any amount. Texas does however have quite liberal exemptions for protecting personal and real property.
Yes. --------------- You can be sued for most anything- the question becomes: do they have a case? If they sue without just cause then they can open themselves up to a lawsuit for "bad faith pleadings"
Only if the defendant agreed to be personally liable for the loan.
Yes. If the account is not paid as agreed in the original contract the creditor can sue the debtor, but they ususally try to avoid legal action.