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My ex step mom is suing me for a repo that she co-signed for. Can she legally do that considering we haven't got sued by the lender yet?
Wiki User
∙ 15y ago
A co-signer is the legal borrower of the money for a vehicle. You're only along for the ride in the hopes it will bring your credit up if all the payments are made properly. The car can be repoed if you drop insurance, make late payments, or otherwise don't keep the car in good condition while there is a loan on the vehicle. Pay your debts or surrender the property. That's the law.
Wiki User
∙ 15y ago
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I cosigned a loan and would like to transfer my obligation to my daughter. What should I do?
You need to discuss this situation with the original lender.
How do you go about getting a car back that you cosigned for if the other person is not making payments?
CALL THE LENDER. They can advise you and work with you.
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.
If you cosigned for a car loan how can you get out of the loan?
The loan must be paid off or the lender must agree in writing to remove your name from the obligation.
Can you file bankruptcy even if someone else has cosigned with you?
Yes. You can file BK. The lender will then go after the co-signer for payment. In other words, the co-signer learns why the lender required a co-signer in the first place.
If you cosighed on a motorcycle it got repoed am i responsible?
If you cosigned for the note, you are saying that if the person who took out the note does not pay you will. I am surprised the lender did not come after you prior to repo.
How can you get your ex daughter in law's name off of a loan you cosigned and your son's put on?
CALLL the lender and ask. You are not the first person to want to do this. They have guidelines for doing it.
If you cosigned for your son and the car got repossessed and he has a job and failed to pay can they sue him?
He will be the first to be sued. You will be next. Make sure the lender knows where he is working and living.
Can you suggest a website that informs you about loan amortization?
Your lender, or the lender you are considering. The amortization is going to break down payments further, so you have to consider what you still owe to the lender.
What happens to the co signer if the borrower files bankruptcy?
If you are talking about someone who cosigned for your loan filing bankruptcy, As long as you continue to make your payments on time, nothing will happen. If you are talking about someone you cosigned for taking bankruptcy, you may very well have to pay this loan. Contact the lender.
If you cosigned for a mobile home with your ex-wife and she is behind on the payments can you have her removed from the property and resell the home?
CONTACT the lender for available options in this matter. NO! Try to get a quit clain deed for her interests.
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.
