answersLogoWhite

0


Best Answer

Yes, I agree with the answer below but here is some help hopefully. You are now the collector: Send them a letter--in the left corner of the envelope put your address and add "Fordwarding service requested"--maybe you will get lucky and get a copy of their new forwarding address. Go to motor vehicles department and see if the registration is being kept up in your state. You might get a new address. Check with their friends, and family to see if anyone will give you some information. Ask for a copy of the application from the lender--you will then have their social security numbers, maybe a reference with an address or phone number you can reach. If they rented- go see the manager or contact the owner- see if they left a forwarding address. Tell them you are skip tracing --NOTHING MORE!!. See if they will give you any information- like a reference, where they worked etc off the application they had. Talk to a neighbor--just say you are looking for them--do they have any idea where they might have gone!! Call or go by where they worked--see if they have a change of address for that last paycheck. Lastly Google their names--see what you can find. If you have one of the social security numbers and it means a whole lot to you--use one of the search services--looking for class mates--white pages etc. This will cost you but...you might find them. AGAIN you can only tell people you are looking for them--it is very important you get a hold of them--leave your name and phone number if you think that whoever you are talking to knows how to reach them. Don't blow it by scaring away the information you could get. Good luck in your search!! Unfortunately, you are bound by the contract you signed and are therefore financially responsible. Nothing will change that. If your name appears on the title for the car (it must read 'joe smith AND bob jones', not 'joe smith OR bob jones'), you have a right to it and can report it as stolen. If, however, your name is not on the title, the car isn't your property. It a very expensive lesson.

User Avatar

Wiki User

โˆ™ 2006-08-28 19:31:47
This answer is:
User Avatar
Study guides

What is rhetorical device

Who was the father of rationalism

What is a cash advance

What is discretionary spending within a budget

โžก๏ธ
See all cards
2.11
โ˜†โ˜…โ˜†โ˜…โ˜†โ˜…โ˜†โ˜…โ˜†โ˜…
9 Reviews

Add your answer:

Earn +20 pts
Q: What legal options does a cosigner have when the primary borrowers default on a loan and disappear with the vehicle?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

Folder options disappear under tools menu?

Generally, folder options disappear due to virus


What are the cosigner's options if the primary defaults on the loan and leaves the country?

To pay the loan.


What are the rights of borrowers when the cosigner is considering a lawsuit to force them to take a second mortgage so the cosigner can recover money paid because the mortgage was defaulted on?

The cosigner has the right to file a lawsuit against the primary borrower's to recover his or her financial losses due to the defaulted lending agreement. The procurement of a second mortgage does not seem viable if the primary borrower's credit was not originally sufficient for them to obtain the loan without the need of a cosigner. It is more likely the house will have to be forfeited by means of foreclosure and the cosigner will have to try to recover losses by other means. The primary borrower's best choice is to obtain legal advice as to what their options are before a lawsuit is filed against them.


Are there legal options that a cosigner can use to be removed from an auto loan?

No, a cosigner can only be relieved of the financial obligation by a refinancing of the loan agreement without them being a participant.


How can a cosigner sue estate of deceased borrower?

Consult with an attorney who can review your situation and explain your options, if any.


What legal options does a cosigner have on a student loan when the student disappears?

The same options as anyone else who owes a valid debt they do not want to pay. Virtually no options except for repaying the loan amount.


How many sheets are there in a work book by default?

Usually it is 3, but you can change the default in Options, which you'll find in the Tools menu.


How can you set default worksheet is workbook?

Sheet1 is always the first worksheet open. There are 3 worksheets by default. You can change that in the options.


Which of the following paragraph alignment options does Word use by default?

left


How do you change default author in word?

Tools > Options > User Information


What is the default attribute for stacking files using the arrange options?

folder


What are some common mortgage refinance options?

There are a number of common mortgage refinance options available to borrowers. These include: fixed interest rate refinancing, and variable rate refinancing.

People also asked