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If you are a co-signer on a car and it gets repossessed can you take the other person to court?
Wiki User
∙ 8y ago
On what grounds??? Forcing you to co-sign?? NOT
Wiki User
∙ 8y ago
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If you are a cosigner on a vehicle and the other person gets the vehicle repossessed then files for bancruptcy what happens to the cosigner?
you are still liable for that loan. the lender may decide to not accept the bankruptcy charge and go after you for the money.
What rights does a cosigner have if the other person gives fraudulent information?
The right to pay the loan. maybe you can sue the other person in small claims court, maybe not.
Can a cosigner help you get an automobile if your other automobile was repossessed?
this is the main reason why people need someone to sign for them.(bad credit) the answer is yes
Can a person be charged with grand theft auto under repossession if the vehicle can not be repossessed?
No, but they can be cited for contempt of court if a replevin or other court order is issued for the recovery of the vehicle.
Can a disabled person's vehicle be repossessed in Florida?
A disabled person's vehicle can be repossessed just as any other person's vehicle can be repossessed. You must make all payments on your vehicle if you want to keep it.
What happens if one co-buyer of a vehicle lets the car get repossessed and moves abroad without paying the deficiency?
The other co-owner or cosigner will be responsible for the debt.
Must the lender notify the cosigner of intent to collect on a default?
The cosigner was probably "notified" that any funds held by the lender would be attached at the time the loan was signed. In order to garnish wages or place a lien on other property, the lender would have to go to court and obtain a judgment, in which case the cosigner would have received a summons from the court.
You were a cosigner on something and now owe the remaining debt can you sue if the other person is in another state?
Yes you can, but it is a little harder to catch them. File in your state and have them served to appear in court. It is always best to consult an attorney for the best advice.
Can a person with bad credit get unsecured loans or will he need a cosigner?
Surprisingly, even a person with a bankruptcy can often get small unsecured loans with a couple years of good payment history. Other loans will need a cosigner or may be totally unavailable, though.
Do you need your cosigner to sign when you refinance?
If you need a cosigner they must sign because a co-signer is a person who accepts responsibility for repayment of a loan, credit card or other debt along with the original borrower. However, if the institution giving you the new loan doesn't require a cosigner, you don't need to have the cosigner on your original loan sign anything.
How can the cosigner be soley responsible for a repossesion of a car?
According to the law, a cosigner signs for someone else that they think might not pay off the load. The cosigner signs a contract agreeing to pay the loan off if the other person does not. He can be solely responsible becase he signs a contract promising to do so.
Are parents responsible for adult child's debt to an attorney?
Very generally speaking, in the U.S. a person is not liable for any other person's debt, unless that person is a cosigner on a loan or something.
