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If you cosigned for your husband's car loan and the car was repossessed do you have any recourse if you are divorced and a judgment was filed on both of you and you were unaware of it and never served?
Wiki User
∙ 17y ago
You have very little recourse. As a co-signer, you are just as legally obligated to the debt whether you knew it existed or not. As a co-signer, it is incumbent on you to be aware of the status of the loan.
Wiki User
∙ 17y ago
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Can you garnish your daughter's wages on a cosigned loan?
You would need to sue her in court and obtain a judgment lien. You could use that judgment lien to garnish her wages.You would need to sue her in court and obtain a judgment lien. You could use that judgment lien to garnish her wages.You would need to sue her in court and obtain a judgment lien. You could use that judgment lien to garnish her wages.You would need to sue her in court and obtain a judgment lien. You could use that judgment lien to garnish her wages.
When your home forecloses and your RV is repossessed can the loan company garnish your bank account for debt still owed on them?
Yes, if they receive a court judgment in most states it can be used as a wage garnishment.
Can a cosigner sue the primary borrower for the entire amount of a loan?
You can sue for anything if you can find a lawyer to take the case, but collecting would be something else. You cosigned, promising the bank that you would make any payments that the borrower did not. THERE IS NO AGREEMENT THAT SAYS THE BORROWER WILL REPAY THE COSIGNER. IOW, you are SOOL. After months of unsuccessfully trying to get the person I cosigned the loan for to pay his bill - I sued him. He got scared because he knew I would get the judgment because he agreed to pay this bill and that's why I cosigned in the first place. He knew a judgment on his credit report would cause him lots of problems. So after he received the court summons and we appeared before an arbitrator he agreed to pay an extra $125 per month to settle the loan faster in exchange for me not requesting a judgment. I also received a signed document by him and the court that if he missed even one payment again - it would go into an automatic judgment on his record for the balance due on the loan plus $500. I'm glad I didn't wait for the loan to go into default and ruin my credit before I took action.
What happens if you can't pay any remaining balances after your car was repossessed?
Usually the lender will obtain a judgment againt the debtor for the amount due. One of the options to collect it is to garnishee the debtors wages. Good Luck
Does the state of Missouri allow wage garnishment if a repossessed mobile home is sold for less than the contracted amount?
If the lender sues the borrower and wins a judgment the lender can then execute the judgment as a wage garnishment on any outstanding amount that is owed and in some cases legal fees and other expenses incurred in the recovery of the debt.
Can a car be reposessed after judgment?
Whether or not a car can be repossessed after a judgment depends on the judgment.
Can they place a judgment on me in 2007 when the car was repossessed in 2001?
== ==
Can a vehicle be repossessed by judgment order if there is a lien on it?
YesYes
Are you responsible for a judgment obtained on you in 2004 when the vehicle was repossessed in 1998?
Yes, you are responsible.
If your vehicle was repossessed and you now have a judgment how do you get the judgment off?
The judgment creditor must be paid in full according to the terms of the judgment order. Most judgments are renewable and can remain on a credit report indefinitely until paid.
What does severed from a judgment meanI was severed from a judgment but it turned up again. A lawyer sent a subpeona to my job . Can i be responsible for this judgment.I was the cosigner.?
You may be held responsible for the judgment if the original borrower fails to pay. When you cosigned for the loan you were agreeing to pay it if the borrower defaulted.
Can a civil judgment result in the repossession of a car that is co owned?
If the civil judgment is due to not making payments for an auto loan on the car that is in question, then yes, that car may be repossessed as a result of the judgment. If there is a judgment against both owners of the car (i.e., if the co-owners are both listed as defendants), then the car is considered an asset and may be repossessed unless there is proof that the car is required for one or all of the co-owners to earn money in order to pay the judgment. If there is a judgment against only one of the owners of the car (i.e., if one of the co-owners is listed as a defendant, but ANY of the others are not), then no, the vehicle may not be repossessed.
Can a creditor take property to pay for a judgment that stemmed from a repossessed car?
Yes, in the event the court orders it.
You won a judgment in court can you go after a car if it is in her and husbands name if judgment is only against one person?
provided they married in community of property (what is hers is his)
How long before you don't have to pay off a car that was repossessed?
The lender will pursue collections for any unpaid balance for seven years from the date the car was sold after being repossessed. If the balance is large, they may pursue legal judgment. Obtaining this, they will have ten years from the date of judgment or last payment.
Do you have to pay the balance after the car was repossessed and sold 3 yrs ago?
IF the lender obtained a judgment for the balance due, YES.
Judgment made against husbands business froze your joint bank account?
Yes, that's how it goes.
