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Cosigner repo a vehicle

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โˆ™ 2008-08-14 01:23:52

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If you are a co-signer of a repossesion, and the primary borrower has not made an attempt to make their payments then you are fully responsible for this debt.

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โˆ™ 2008-08-14 01:23:52
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Related questions

If Chapter 7 BK is filed on a car loan will the bank repo the vehicle if the cosigner is willing to make the payments?

You need to calol the LENDER and discuss this.


How can a cosigner be released from responsibility if other party wont pay our return vehicle?

cant , once the cosigner has signed that contract its legal and will remain that way unlesssss you wait till the final of the repo and they have sold the car and are trying to collect a balance from you then you file bancrupcy


As a cosigner can you have a vehicle repossessed without affecting the cosigner credit rating?

Nope.


What do you do when repo man is here?

You give the repo man the keys to the vehicle and let him take the vehicle.


Can a cosigner coowner repossess a vehicle if the primary has not defaulted payment on the loan?

A cosigner or coowner cannot repossess a vehicle. That is something the leinholder does.


Can a cosigner in California take possession of a vehicle if the primary borrower is not making the payments in Georgia?

Only if the cosigner is also named on the vehicle title.


If the cosigner has had possession of vehicle 15 months paying the payments does the primary have the right to the vehicle?

will primary on a auto loan have right to the vehicle if cosigner has been paying loan for 15 months and has possession of vehicle will primary on a auto loan have right to the vehicle if cosigner has been paying loan for 15 months and has possession of vehicle


What can be done to you in Florida if you are the cosigner on a vehicle that is up for repossession but your husband is in possession of the vehicle and they cannot find it?

They will come to you for the money if they can't find him. It will be on your credit as a repo as well. As a co-signer, you sign that you will take over payments if the signer fails to make the payments.


If you are a cosigner on a loan will a loan company repossess the vehicle then let you pay it off and take possession without ruining your credit?

Contact the lender and let them knoiw that if ANY case the debtor defaults to notify you so you can payoff the loan. Add that you will payoff after repo with NO repo reported on YOUR credit.


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.


Is the cosigner of a vehicle liable if the it gets repossessed?

Yes. That is the point of the lender asking for a cosigner. The cosigner will have a repossession showing on their credit as well as the primary lender.


Can a cosigner on an auto loan get insurance on the vehicle?

Yes

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