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The co-signer for the car loan had to make 3 payments through the course of the term and at the time of payoff he requested the bank to send him the title and they did Now he is keeping the title?
Wiki User
∙ 15y ago
He owns the car legally now that he has the title. The only thing you can do is gather financial evidence that you paid those 3 times and ask him for the money. If he refuses, take him to small claims court. You will win. If the person's name is not on the title he or she has no legal rights to the vehicle. Simply having possession of the title to a vehicle or any property does not confer ownership rights. A cosigner who is not included on the title cannot keep possession of it until they are reimbursed for payments made, they must use the due process of law. If the person's name is not on the title then the bank has made a serious error and has placed itself in the postition of being sued by the primary borrower if that person so chooses.
ANSWER It sounds like you're saying that you were the primary purchaser, and the co-signer only made three payments the length of the loan, correct? In that case. you guys both are probably on the title, and, to get the vehicle/title back is to arrange to oay him back for the three payments they made during that time. You can probably come to an amicable agreement like you pay them back for the total amount they spent on the vehicle and then have them go with you to the registration office in your city so that they can sign the title over to you.
Wiki User
∙ 15y ago
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How can you get out of cosigner even through you already cosigned?
Pay the loan off and then collect payments from the person you cosigned for.
Can a cosigner on a student loan can I take signer to court?
Yes, a cosigner on a student loan can take the primary signer to court if they fail to make payments on the loan. As a cosigner, you are equally responsible for the loan and have the legal right to seek repayment through legal action if necessary. It's important to consult with a legal professional for guidance on the specific circumstances of your situation.
Can a cosigner get off the loan if it has been financed for over 2 years?
A cosigner can only be relieved of the financial obligation through refinancing of the loan without the current cosigner's participation.
How is a cosigner determined eligible?
Generally through a credit check.
What is the difference in a cosigner and a guarantor?
A cosigner signs the debt agreement and the lender can demand payment from both the debtor and the cosigner. A guarantor does not sign and the lender needs to go through the debtor before demanding payment from a guarantor.
How do you take a car from the owner if you are a cosigner?
Unless you are also on the title you will need to do it through a lawsuit.
What is electronic payments system?
This would generally be payments over the internet, or through an ATM.
What options does a cosigner of a student loan have when the signer doesn't pay and won't make any effort to put the loan in forbearance or to consolidate to make the payments more affordable?
I am going through this same thing right now. It appears that their are no options but to pay it. Then you might be able to sue them for the money, but if they don't have it, you wont get it.
Can a 19yr.old undergrad receive a loan without a cosigner?
A stafford or perkins loan, yes, IF you qualify through the FAFSA.
How long does it take the state of MA to stop child support payments once the court grants a motion to terminate payments?
If payments are being made through the system, and/or through payroll deduction, 4-6 weeks.
What happens to your mothers mortgage if she dies and you are her cosigner but not on the deed?
The short answer is, nothing good. As a co-signer, you are still responsible for making sure the mortgage payments are made in full on time. However, you should talk to the bank that holds the mortgage to see what you need to do, particularly if the title of the house doesn't come to you through the will or settling of the estate.
I pay support to mother through the state of Colorado will payments transfer to the state of Tennessee if child is in state custody i e Group home and Will they intercept payments from mother?
Continue to make your payments through Colorado until notified otherwise. CO SDU should transfer the payments to Tennessee.
