To take possession, you MUST be named on the TITLE as co-owner. the LINHOLDER will wanting to be sure the car has the required ins. coverage. IF you are on the LOAN as co-buyer, you will have to make the loan CURRENT if in default. It would work out better if you contacted the LEINHOLDER for state specific advise on the matter. If you are NOT on the loan, it could be repoed for 3rd party possession in your possession.
A cosigner or coowner cannot repossess a vehicle. That is something the leinholder does.
I don't think so not without their approval.
Shutterfly, 1999-, chairman; DNA Sciences, 2000-, director; Neoteris, 2001-, chairman; Hyperion Development Group, 2003-, coowner.
The primary and cosigner on a car note are equal owners. Neither has the "right of ownership" over the other. This is a common misconception. Both may not benefit from the transaction, but both will be negatively affected if the note is not paid.
Yes. Anyone can file suit against anyone for any reason. Whether it gets dismissed right off the bat or not is dependent.
No. Namely, because the car wasn't stolen - it was taken back by the rightful owner (the financier), via a repossession agent. It's not the financier's fault - nor the repo agent's - that you neglected to make your payments.
Yes, Johnny has had numerous jobs before becoming a serious and brilliant actor. Johnny has been a pen salesman, construction worker, he toured with his bands, he owned a bar or was a coowner, he was also a gas station attendent
Fairly simply, a co-owner owns the car, and possibly the way your phrasing it, the primary responsibility for the loan. Hence, the (co)owner will own the car when the loan is paid off. A cosigner is essentially only a guarantor of the loan receivor. He is also responsible for the payment of the loan to the bank. He has no responsibility, and possibly no rights, in the property it is attached to. I would note that it is possible (and more correct but in a sophesticated lender type of way) that the term coowner would mean that the loan is "cowned" by two (or more)lenders. As in Bank 1 and Bank 2 both own 1 loan on a property, having each given funds and each receiving the benefits (payments from the one receiving the loan) of the loan. This rarely occurs on simple finance transactions so I supect this is not what you mean.
Yes! You will have go and add your name to the new paper work and title. * The loan will have to be refinanced if the couple do not reside in a community property state. Adding to the loan will not make the spouse a coowner unless they live in a community property state but it will make them a co-borrower and equally obligated for the debt in any state. A person does not need to be on the title to be on the loan and vice-versa. Although it is prudent to be placed on the title as that is what determines ownership, not the financial agreement.
No. Dyersburg Fabrics ceased operations in July 2001. Dyersburg Corporation filed for bankruptcy protection in 2000 and was hoping to come out from under Chapter 11 in 2001. The Corporation acquired Alamac Knits from Westpoint Stevens in 1997 at a cost of $125 million. At the time Dyersburg Corporation had opened corporate offices in 1998 in Charlotte, N.C. and therefore Dyersburg Corporation operated in N.C. not in Tennessee as many would believe. The acquisition of ALamac was the first nail in the coffin for Dyersburg Fabrics. They went into the game with a 60-65% debt ratio. In 1997/98 Dyersburg Fabrics was launching their Technical Performance fabrics product line that not only encompassed Dyersburg but also included certain products from the United Knitting Line. Mr. Keith Pitts was Director of Research of Development at Dyersburg and was instrumental in making this product line a reality for the Winter Outdoor Retailer Show in Salt Lake City where Dyersburg launched their new line. During 1998 and 1999 Dyersburg found itself floundering in marketing and merchandising as the "Corporation" directed $$$ for such from the Dyersburg Fabrics lineup to repositioning Alamac Knits into a performance based uniform fabric supplier. Presidio(TM) was launched in which pique fabrics were treated with stain-release and later on Moisture management. During the meantime, Dyersburg was developing nearly 80 fabrics a month going unnoticed as the merchandising and marketing crew were primarily Alamac personnel and they knew nothing about the performance fabric market. Another nail in the coffin. In early 2000, Patagonia dropped Dyersburg as supplier of their 7.5 oz ECO fleece to direct all business to Malden Mills due to quality problems coming from the Dyersburg facility. Dyersburg was the company that originally partnered with Wellman Industries in 1993 to develop a fabric in cooperation with Patagonia that was at least 55% recycled PET bottles. Dyersburg corrected their issues but it was too late and when they filed Chapter 11 Patagonia did not want to give business back to a potential company that might fold. Also, Mountain Equipment Co-op was purchasing fabric and found itself doing the same as Patagonia. Mr. Tim Hopkins was asked to move into Development and Mr. Lee Lunsford, VP-Operations at Dyersburg decided to place Joe Jenkins, whom he hired to run the Open end spinning operation and Trenton Mills into the finishing room of which he knew ABSOLUTELY NOTHING ABOUT. Quality issues arose and as I stated earlier Patagonia ditched the guy that took them to the dance. It was found that Mr. Jenkins had stolen proprietary designs with regard to the meat bag industry from Dyersburg and he and his brother had started their own company on the side competing against Trenton Mills. Dyersburg did not prosecute that I know of but released Mr. Jenkins from his responsibilities and return of equipment,etc. In my opinion, Gene McBride should have released Mr. Lunsford at that time for such a blunder as well. Mr. Lunsford was known for many at the plant and pissed quite a few of the born and raised DFI staff off. The good thing about this story is that Mr. Hopkins was allowed to return to the Finishing room to do his job as Technical Manager over the Outerwear fleece . Dyersburg though was doing a good business with Columbia sportswear where they were producing the Polartec 200 fabric under their style 0139 and Columbia was able to lay down on cutting table at their Chaffee, MO. plant side by side with Maldens. Dyersburg then went into a JV with Grupo M in the Dominican Republic where they were producing fleece garments at plant in their "free Zone" park for Columbia, Port Authority, Timberland,etc. and the Chaffee plant of Columbia Sportswear shutdown. In early 2001 , The Gap came into the Dyersburg plants to tour and talk about business for The Gap and Old Navy where production of fleece would be 200,000 yards/week. Major business that could sustain the plant. Mr. Pitts and the development group tried developing some low cost fleece fabrics per the specs of Old Navy and Gap but found for the $$$/yard price they offered to pay DFI could not compete. It turned out that the GAP could get fabric from China landed in Mexico and pay the duty/tariff and still come out cheaper per garment than Dyersburg could produce the fabric and ship to Mexico or the Domincan Republic duty free mind you and ship garments back to U.S. This is when Dyersburg knew the writing was on the wall. Textiles as the U.S. had known it ....was to be history. During April, May and June of 2001 Dyersburg was feverishly trying to move production equipment out of the Alamac plants and into the Dyersburg facility. The banks were allowing this to happen at Dyersburg. When Dyersburg Corporation went to seek more capital to complete the project and shut the N.C. plants down.....they were told NO. Guess what AlamacUSA as it is known now is still operating. United Knitting in CLeveland was sold off to Mallen Industries where Jerry Miller is President and coowner. Mark Cabral and his crew are running Alamad today. The plan was to run all product lines out of the DYersburg plant since it was the "mothership" but the kicker was having corporate offices in my opinion in Charlotte and N.C. plants were favored over TN. Dyersburg would still be operating today doing much like Malden Mills, now Polartec Industries after 2 Chapter 11 bankruptcies and support from Senator Ted Kennedy and John Kerry in Massachusetts to give them government contracts. Polartec operates plants in China today as well. Dyersburg plant was bought by a private LLC that tried to get business started again. Trouble with that is you have lost your customer base that the company once had and the personnel that tried to do this were not the ones that could make it happen. The Director of Research and Development , whom was Mr. Pitts had taken another job in Dyersburg at an automotive firm, Mr. Miller was running his own company, Gene McBride had went to work as Sr. VP at Sara Lee, Mr. Lee Lunsford went to work for another company, Mr. David Tinkle and Mr. James Houston had taken other jobs in the area as well. The gentlemen that bought the facility were farmers and local shyster businessmen with one lone wolf being Bill Wiggins who had swindled hundreds of thousands of dollars out of Dyersburg while it was running in the late 90's with Q.A. monitoring equipment that was not utilized in the knitting plant.