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Is it legal to ask for a cosigner after a car is repoed?
Chinadollalways
You can only have a co-signer during the loan application process.
You can only have a co-signer during the loan application process.
You can only have a co-signer during the loan application process.
You can only have a co-signer during the loan application process.
Wiki User
∙ 13y ago
Wiki User
∙ 13y agoYou can only have a co-signer during the loan application process.
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What if your cosigner died and your car was repoed can you get it back without paying the price of the car?
NO
How do you get your ex friends car repoed?
You don't. Unless of course there are legal reasons to do so.
If your car was repossessed but redeemed by the cosigner can the bank report a repossession on your credit but not on the cosigner's?
VERY possible. reporting repos is up to the LENDER(of course, they usually do). It was very much repoed from you sooo. Nothing you can do about the co-signor having or not having a repo on their credit.
Can a cosigner take away your car even though payments are not delinquent?
No. Unless the cosigner is also a title holder they have no legal rights to the vehicle.
Can you refinance your car without a cosigner if your current loan has a cosigner?
if you take it to your personal bank and ask them how much you need to have paid already they can indeed refinace you and remove the cosigner
What legal recourse is there for the cosigner when the person that was cosigned for has defaulted on the loan?
The usual legal recourse for the cosigner when the person named as the primary on a loan has defaulted, is to make the payments on the loan. Then, the cosigner can take the person who defaulted to court to try and recoup some of the money they are out. If the loan was for a car, some states allow the cosigner to take possession of the car and sell it to recoup losses also.
Can the cosigner demand that the car remain in the same state where he or she resides?
No, a cosigner does not have any legal rights to the vehicle, but does have the legal obligation to repay the debt if the primary borrower defaults on the contract. An exception could be if the cosigner is also named on the title to the vehicle, and if so, how the title is worded.
Can the bank take things that the cosigner owns or has financed if the car is repoed?
The co-signor IS liable for the debt if the car is repoed. The bank can get a judgment against the co-signor as well as the signor. They can garnishee wages and/or get leins against BOTH signors other property. Anything that has a prior lien on it will be subject to the PRIOR leins being satisfied first.
Can a cosigner take the vehicle even if no payments are late?
NO! He is only guaranteeing the loan. He has no legal right to take the car.
Can you get your wheels back if car was repoed?
No As far as finance company is concerned the car came with wheels, it has wheels on it when repoed. Done deal.
Does a cosigner have the right to take possession of the car when the primary borrower has made all the payments and has not defaulted on the loan?
No, a cosigner has no legal rights to a vehicle unless his or her name appears on the vehicle title.
Does a cosigner have rights to the car even when its paid off?
No, the cosigner will not have rights to the car after its paid off because the purpose of a cosigner is to pay off the notice if you fail to do so. Being a cosigner does not give them to any rights to the car.
