you are still liable for that loan. the lender may decide to not accept the bankruptcy charge and go after you for the money.
Nope.
Yes, the cosigner is typically liable for the vehicle if the primary borrower defaults and the vehicle is repossessed. The cosigner is equally responsible for the loan and may be pursued for any outstanding debts, fees, or deficiencies resulting from the repossession. It's important for cosigners to understand their obligations before agreeing to cosign a loan.
The other co-owner or cosigner will be responsible for the debt.
READ your contract you signed. Call a local attorney for state specific legal advice.
If there is evidence of fraud, the person hiding the vehicle can be prosecuted and possibly even put in prison.
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.
The vehicle will be repossessed and the leasor will be held responsible for the unpaid balance of the lease.
A cosigner or coowner cannot repossess a vehicle. That is something the leinholder does.
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
Only if the cosigner is also named on the vehicle title.
It depends on you locatily, but in general, yes, if you are behind on your payment, your vehicle can be repossessed.
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.