If you are being sued as a cosigner on a repossessed car for a bankrupt limo co in NJ will this lawsuit follow you if you move to a different state?
It would depend on why they are sueing you and also what the disposition of the bankruptcy is.
Seems pointless to even consider. If the primary signer didn't have enough funds to make the car payments, they probably will not have enough funds to pay any lawsuit you charge them with. Fact is, if the primary signer defaulted on payments, then the cosigner would be responsible for making them - If repossession occured, then it was due to the fault of the cosigner .. can't sue yourself.
What are the rights of borrowers when the cosigner is considering a lawsuit to force them to take a second mortgage so the cosigner can recover money paid because the mortgage was defaulted on?
The cosigner has the right to file a lawsuit against the primary borrower's to recover his or her financial losses due to the defaulted lending agreement. The procurement of a second mortgage does not seem viable if the primary borrower's credit was not originally sufficient for them to obtain the loan without the need of a cosigner. It is more likely the house will have to be forfeited by means of foreclosure and the cosigner…
There is a bit of confusing concerning the terminology used in the question. A judgment writ is issued to the plaintiff if the lawsuit is won. The judgment can then be executed pursuant to state statutes. The process of filing a lawsuit can begin by contacting the clerk or the administrator of the court of jurisdiction or by retaining legal representation.
If the cosigner sues the primary and the primary has never defaulted on the loan will they be likely to win?
If the cosigner has not been financially impacted by the actions of the primary borrower, then there is not valid grounds for a lawsuit. This does not mean the suit could not be brought, but the plaintiff would be wasting time and money as a judgment cannot be awarded where damages have not occurred.
Yes You Can. This Leaves A Mark On Your Credit Report, Plus Since You Did Not File; You Now Are Responsible For The Debt. NEVER EVER COSIGN++++++++++++ MONEY 101 * Probably not. If the debt was discharged in bankruptcy then it is not subject to collection procdures including a lawsuit. In some state filed BK's a cosigner has protection in this area if specific circumstances exist.
What rights does a cosigner have to gain possession of the vehicle if he paid off the loan without your knowledge and the title is in your name only?
The laws for all US states are much the same. In MO. when a vehicle is repossessed by the lender due to a default in the terms of the contract the lender is required to sell the vehicle at public auction for the amount closests to its assessed value. If there is a discrepancy in the amount for which the vehicle is sold and the balance of the loan, the lender may pursue collection for…
The time varies but it will be stated clearly in the Summons. The time to answer a civil lawsuit varies with the type of court, the jurisdiction and the type of lawsuit. Typically, small claims matters are short time periods, perhaps about 20 days. Different states have different times. The federal courts require an answer in 21 days. In standard litigation (i.e. not small claims) the time period may be as high as 35 days.
Buy here pay here dealer breached the contract and didn't make the necessary repairs to the vehicle Two payments were not made and the vehicle was repossessed What can we done?
Is the petitioner in an involuntary bankruptcy entitled to future sums coming from lawsuits initiated by debtor?
if YOU are the petitioner...how would WE know the answer? If your NOT...how would anyone else know the answer to a question about them? If a bankrupt has a potential asset, as in a payment from a lawsuit, then they must list it as such and it may be considered as something to pay creditors...if someone wants it.
Depending on the circumstances of your lawsuit and the type of lawsuit, there are various options that you may qualify for. Most litigation funding companies offer non-recourse lawsuit loans for a pending or settled lawsuit. A non-recourse lawsuit advance is a loan that only needs to be repaid if you win or settle your lawsuit otherwise nothing is owed to the funding company. To qualify for lawsuit loans no credit or employment is required, so…
If you sent a payment to the bank clearly noted for a car loan but they deposited it in your account instead and then your car was repossessed can you sue the bank?
It depends. What was the result of that error being made? Was your vehicle repossessed because the payment went to the wrong account? As far as "legally filing a lawsuit" you can do that to anyone for anything. Most banks will rectify the mistake by correcting the routing of that deposit and clearing the late fee if they see that the payment was received on or before the due date. However, they can tell if…
Generally, filing a lawsuit against a casino is no different than filing against any other entity. It becomes tricky when the casino is on tribal lands. At that point, United States federal and state laws no longer apply. Each tribal casino will have their own procedures for filing a lawsuit, and should be contacted individually.
Is there a formula to determine a settlement in a wrongful termination family medical leave act lawsuit?
There is a fee to file the lawsuit, a fee to serve the Summons and Complaint if that is done by a court appointed officer, and there may be other fees as well during the course of the litigation. Fees are unique to each state and are fixed by statute. Sometimes there are different fees for different types of lawsuits even within the same state. For the exact fees in your jurisdiction, contact the court…
Can owner claim real property that is within neighbors property line such as a drive that is not used?
No, not simply because it is not used. You would need to use it openly for a certain period of years (that varies in different jurisdictions) and then bring a lawsuit for adverse possession to the local court of equity. No, not simply because it is not used. You would need to use it openly for a certain period of years (that varies in different jurisdictions) and then bring a lawsuit for adverse possession to…
A lawsuit loan is considered a cash advance on a pending or settled lawsuit. Plaintiffs have a number of reasons why they seek a lawsuit loan, primarily because their finances are falling short due to the length and long process of a lawsuit. Lawsuit loans are not considered loans because they are non-recourse based lending. This means if a case is lost, there is no need to repay the lawsuit funding company.
One can get a lawsuit loan or lawsuit cash advance by applying with a lawsuit funding company. These lawsuit funding companies provide non-recourse based lending for plaintiffs in search of a cash advance on their case. Rates will vary but you should always doy our research on finding the best lawsuit funding company.
When a defaulted secured loan is charged off and the property isn't repossessed but the account is turned over to an attorney do you still have to pay the loan?
What are the options of a cosigner when the other party has taken possession of the car and moved across the country and is consistently late on payments and you cannot afford to pay it for him?
None. When a person cosigns any financial agreement they are entering into a legally binding contract to repay the debt if the primary borrower defaults on the loan. Although it would seem the cosigner should be allowed to be relieved of the debt responsiblity due to the actions of the primary borrower, it is unlikely a judge would take the same view. The cosigner does have legal option to recover money spent to cover the…