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If you cosigned for your son and the car got repossessed and he has a job and failed to pay can they sue him?
Wiki User
∙ 8y ago
He will be the first to be sued. You will be next. Make sure the lender knows where he is working and living.
Wiki User
∙ 8y ago
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If you cosigned a car loan for your daughter and the car got repossessed do you both have to file for bankruptcy?
Having a car or other item repossessed does not mean anyone has to file for bankruptcy. Bankruptcy is to protect you from creditors and should be sought if you owe more than your net worth and have no reasonable prospect of being able to pay what you owe.
If you get youre car get repossed can you buy a new car?
Sure, but you might have trouble getting the loan to buy it due to the fact that your other car got repossessed by the bank that gave you another loan.
Is there any way to get your name off of a loan if you cosigned for a car loan while you were married and then you got divorced?
The loan has to be "secured" by someone with good credit. Call the lender for their loan qualifications.
You bought a car for a friend that signed a pmt agreement You repossessed the car from the individual for non-payment The individual got a payday loan against the title Who owes that money?
Who ever signed the pay day loan contract owes the money. You bought the car for the friend so the title should have your name on it until such time as you have been paid for the car and you sign over the title to the person buying it from you.
If your car was repossessed and you went and got another one are you still allowed to file bankruptcy?
You car being repoed has nothing to do with bankruptcy. You can file anytime. If you are filing though, make sure you keep track of the value of the vehicle v. the exemption in your state for cars. You may end up having to pay the trustee more if you get an expensive car. IF you get a car that is 100% financed though, don't worry about it. (The bank would own it, not you)
If you cosigned a car loan for your daughter and the car got repossessed do you both have to file for bankruptcy?
Having a car or other item repossessed does not mean anyone has to file for bankruptcy. Bankruptcy is to protect you from creditors and should be sought if you owe more than your net worth and have no reasonable prospect of being able to pay what you owe.
If your aunt cosigned for a car and it got repossessed can she file suit against you because of the repossession?
Yes she can "IF" you fell behind on payments, and your car was repossessed, that means that she is liable for the monies due and she has every right to sue you to recoup her losses, so that her credit does not go bad.If you do the right thing right away and pay what you owe, you might be able to salvage your car and your aunt's trust. Good Luck
If you are the primary on the car note for an auto loan you got with someone else who pays when the car is repossessed?
As the primary, you are the first one they go after.
If you cosigned for a car and it got repossessed voluntarily what will it do to your credit and will you owe?
Whether a repossession is done "voluntarily" by the primary or through the action of the lender, the primary borrower and the cosigner are still legally responsible for all the terms of the lending agreement. The affect the repossession has on the cosigner's credit history will depend upon the actions of the lender to recover the debt owed.
I had a car that got repossessed and I was left owing a lot on the loan and then I got married. Is my husband now responsible for my past due loan?
No. Because the car was purchased prior to the marriage.
Your car was repossessed but i got it backi still owe late fees though can they repossess the car a second time?
YES, sorry btdt
If you paid the fees and got your car back from repo but what if you miss another payment with the bank?
It gets repossessed again.
What if the car repossessed got in a wreck?
If you buy a car, lend it to a friend and it get wrecked then you have to get it reposessed with a bk. What can the creditor do if the car is wrecked? Even after the bk can you be charged for missing or broken parts?
Can you buy another car though your first car got repossessed?
Yes, if you have the money you can buy it. If you are searching for a car loan, you may have some difficulty in that. Paying cash, no problem.
If you recently purchased a car and got fired a couple days later can your car be repossessed?
Your vcar can be repoed anytime your loan is in DEFAULT. Regardless of the cause for being in default.
If you get youre car get repossed can you buy a new car?
Sure, but you might have trouble getting the loan to buy it due to the fact that your other car got repossessed by the bank that gave you another loan.
If you co signed for a car loan and the primary got into an accident could you lose your house?
you cosigned so you are also held liable, you may not lose your house but between the friend who got in the accident and yourself, you are going to have to pay whatever is due for the car loans and the repair costs
