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You cosigned to a car loan with an ex and now he's not making payments and he's out of the state?
Wiki User
∙ 15y ago
The finance company will be coming to you for payments...even if he has the car. They will send repo men after the vehicle as well. Good luck. Never EVER co-sign for anyone.
Wiki User
∙ 15y ago
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If you file for bankruptcy and you cosigned for someone can the car loan be included in the bankruptcy if the person is not making their payments?
YES, you can include it whether the payments are current or not.
What happens when someone you cosigned a mortgage for has filed for bankruptcy?
When you co-sign on a loan or mortgage for someone, you are promising to make the loan payments if they can't. When someone files for bankruptcy, they are claiming that they cannot make their payments. It would stand to reason that if someone you co-signed on a mortgage for files for bankruptcy that you would then be liable for making the payments.
If the person you cosigned for refuses to pay on the car loan after a year and a half can the cosigner take over payments and get possession of the car?
Only if they are a joint title holder of the vehicle.
Who pays the loan if a car is repossessed?
The one who BORROWED the money and/or the on who COSIGNED the loan.
Your son in law cosigned on a car loan the person has not made regular payments now this person plans on leaving the state for good can cosigner demand car remains here where he is he has helped out?
Sadly, no. Cosigning essentially affords no rights, only obligations.
If you file for bankruptcy and you cosigned for someone can the car loan be included in the bankruptcy if the person is not making their payments?
YES, you can include it whether the payments are current or not.
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.
If you cosigned on a loan and voluntary have it returned can the company still come after you if the primary signer is making payments?
Don't understand what you mean by the phrase, "...voluntary have it returned..." However, as long as the primary indebted party is current in their payments there would be no reason for the loan company to contact you for payments.
What happens when someone you cosigned a mortgage for has filed for bankruptcy?
When you co-sign on a loan or mortgage for someone, you are promising to make the loan payments if they can't. When someone files for bankruptcy, they are claiming that they cannot make their payments. It would stand to reason that if someone you co-signed on a mortgage for files for bankruptcy that you would then be liable for making the payments.
Someone cosigned a loan for me and I since lost my job can this person file suit for the entire loan or just what she cosigned for?
No, you would have to redo the loan.
If a person co-signed for another's car will the co-signer be taken if they file for bankruptcy?
Yes! The whole point of cosigning a loan, from the lender's perspective, is that they have 2 people on the hook for the loan in the event it goes sour. If the person stops making payments (bankruptcy or not), they will come after the cosigner, making the cosigner wish he/she had never, ever cosigned.
What happens if you were a cosigner on an auto loan but now your credit is terrible and you are in a credit consolidation program?
As far as the auto loan you cosigned for, nothing will happen as long as the person who actually borrowed the money makes the payments on time.
Can your loan be in default if you are making your payments on time but have failed to insure the vehicle or provide information to the loan company?
Yes. Making payments on time is only one of several things you agreed to do when you signed the loan papers.
If the person you cosigned for refuses to pay on the car loan after a year and a half can the cosigner take over payments and get possession of the car?
Only if they are a joint title holder of the vehicle.
Your father cosigned with you on a car and now you are moving and he wont let you take it you have made all your payments maintained it and takenc are of it.Can he legally take the car from you?
(note I am NOT a legal professional) I believe co-signing a loan only means that person promises to make the payments if the primary loan signer fails to make the payments. The co-signer has no ownership of the vehicle. I personally would talk with the company that gave the loan in the first place. IF you have been making payments consistently they may be willing to remove the co-signer from the loan, at which point the father would have no legal connection to the vehicle.
Who pays the loan if a car is repossessed?
The one who BORROWED the money and/or the on who COSIGNED the loan.
Your son in law cosigned on a car loan the person has not made regular payments now this person plans on leaving the state for good can cosigner demand car remains here where he is he has helped out?
Sadly, no. Cosigning essentially affords no rights, only obligations.
