When a car in Texas gets repossessed for failure of payment does the car company come after the main signer or the cosigner for paying off the rest of the loan?
Both. But in reality, they go after the money. If the primary is
broke, doesn't have a job, homeless, whatever, the bank will go
after the person with the money. Now aren't you glad that you
co-signed? They'll first try to get the primary signer to pay the
debt. If he can't, the company will hold the co-signer liable for
it. A co-signer is just as legally liable for the debt as the
primary signer. You know when it's a good idea to become a