0
What else can I help you with?
As a cosigner can you have a vehicle repossessed without affecting the cosigner credit rating?
Nope.
Is the cosigner of a vehicle liable if the it gets repossessed?
Yes, the cosigner is typically liable for the vehicle if the primary borrower defaults and the vehicle is repossessed. The cosigner is equally responsible for the loan and may be pursued for any outstanding debts, fees, or deficiencies resulting from the repossession. It's important for cosigners to understand their obligations before agreeing to cosign a loan.
What happens if one co-buyer of a vehicle lets the car get repossessed and moves abroad without paying the deficiency?
The other co-owner or cosigner will be responsible for the debt.
Is a cosigner liable for the balance of a repossessed vehicle if the loan company auctioned it without notifying them?
READ your contract you signed. Call a local attorney for state specific legal advice.
What happens when you cannot locate a vehicle that is to be repossessed?
If there is evidence of fraud, the person hiding the vehicle can be prosecuted and possibly even put in prison.
Can a disabled person's vehicle be repossessed in Florida?
A disabled person's vehicle can be repossessed just as any other person's vehicle can be repossessed. You must make all payments on your vehicle if you want to keep it.
What happens when lease cannot be paid back?
The vehicle will be repossessed and the leasor will be held responsible for the unpaid balance of the lease.
Can a cosigner coowner repossess a vehicle if the primary has not defaulted payment on the loan?
A cosigner or coowner cannot repossess a vehicle. That is something the leinholder does.
What legal rights does a cosigner have to a vehicle?
A cosigner of a vehicle loan is typically equally responsible for the debt if the primary borrower fails to make payments. However, the cosigner does not have ownership rights to the vehicle unless specifically stated in the loan agreement.
If the cosigner has had possession of vehicle 15 months paying the payments does the primary have the right to the vehicle?
will primary on a auto loan have right to the vehicle if cosigner has been paying loan for 15 months and has possession of vehicle will primary on a auto loan have right to the vehicle if cosigner has been paying loan for 15 months and has possession of vehicle
Can a cosigner in California take possession of a vehicle if the primary borrower is not making the payments in Georgia?
Only if the cosigner is also named on the vehicle title.
Can your vehicle be repossessed if you are awaiting to be paid by the federal government?
It depends on you locatily, but in general, yes, if you are behind on your payment, your vehicle can be repossessed.
