answersLogoWhite

0


Best Answer

CALL THE LENDER. They can advise you and work with you.

User Avatar

Wiki User

โˆ™ 2015-07-15 19:13:51
This answer is:
User Avatar
Study guides

Loans

26 cards

What is forfeiture

Which of these is the best description of delinquency

Which term is defined as property that is pledged as security on a loan

This is Paula's monthly budget What percent of her expenses is spent on insurance

โžก๏ธ
See all cards
2.33
โ˜†โ˜…โ˜†โ˜…โ˜†โ˜…โ˜†โ˜…โ˜†โ˜…
3 Reviews

Add your answer:

Earn +20 pts
Q: How do you go about getting a car back that you cosigned for if the other person is not making payments?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

Do you have the right to take possession of a vehicle you cosigned when the person not making payments?

Yes.


If you file for bankruptcy and you cosigned for someone can the car loan be included in the bankruptcy if the person is not making their payments?

YES, you can include it whether the payments are current or not.


How can you get out of cosigner even through you already cosigned?

Pay the loan off and then collect payments from the person you cosigned for.


If you are the co-buyer and you are the one making the payments can the buyer take your auto away?

Cosigning for ANYONE is one big mistake. If the person you cosign for is not making the payments then the person that cosigned is responsible for all payments. I have no idea why anyone would want to do this. Unless there were stipulations in the contract you signed with the buyer, then no, they can't just up and sell the car. Take another look at your contract. Marcy


How do I get possession of a car in Michigan that I cosigned for when the owner has stopped making payments and communicating with me?

Contact whomever holds the lien, they will allow you to make payments and take posession of said vehicle if signor has ceased to make payments. I have already contacted the lien holder and they advised me that they would not get involved with me taking possession of the vehicle. All they wanted from me were back payments. I brought the payments up to date. Now I want to get the vehicle in my possession. Unfortunately I have been unsuccessful at contacting the person I cosigned for. I've even heard that he may have moved out of Michigan. I have a copy of the Michigan registration showing myself as an owner. I am currently awaiting documentation from the state that I am on the title. What is my next step towards getting possession of the car?


If a person cosigns on a vehicle loan and is listed as the primary buyer on the title and the person they cosigned for has refused to make any payments can the the cosigner regain ownership of the car?

If a person's name is listed on a title, that person owns the car. If a person merely cosigned the note, that person's name will not be on the title. If you own the car, you certainly can take physical possession of it.


How can you sue the person you cosigned for?

if you are from 'merica


If a person co-signed for another's car will the co-signer be taken if they file for bankruptcy?

Yes! The whole point of cosigning a loan, from the lender's perspective, is that they have 2 people on the hook for the loan in the event it goes sour. If the person stops making payments (bankruptcy or not), they will come after the cosigner, making the cosigner wish he/she had never, ever cosigned.


If the person you cosigned for refuses to pay on the car loan after a year and a half can the cosigner take over payments and get possession of the car?

Only if they are a joint title holder of the vehicle.


Who is a drawer in a check?

the person making out a cheque and using it for payments


If the cosigner is on the title can they take vehicle if person is not making the payments?

Yes..... I did


Do you have the right to sell a car after repossession on a cosigned loan?

Yes, but only if you are the cosigner. When you cosign it is usually for these reasons: The person the loan is for is a minor The person has a poor credit rating The person doesn't have collateral When you cosign you are 100% responsible for that debt. All the banking institution is interested in is getting their money, so if the car was repossessed the cosigner has two options ... take over the payments or sell the car and hope it pays off the total loan. It's a smart thing to do so it doesn't ruin one's credit rating. If you aren't the cosigner, but the person the loan went too, shame on you! If you can afford to continue to make payments now, then you could have made those payments on the loan cosigned by someone who was nice enough to do it.

People also asked