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Yes, he or she would be equally responsible for the repayment of the loan balance.

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10y ago

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Related Questions

Can you get your vehicle possession after your vehicle was repossessed?

by paying the bill or rebuy it at an aucton


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.


How do you get your vehicle repossessed?

By not paying the payments needed or by government seizure. Zaragotha (Zara)


Can your driver's license be suspended for not paying the balance of a loan after the vehicle was repossessed?

No. Absolutely not. Your driver's license cannot be suspended for not paying a loan or the balance of a loan, repossessed or not even if you get threats from the loan company.


Who is held responsible for the loan on a repossessed vehicle?

The borrower. If there was a co-signer, that person is also fully responsible for paying the loan if the primary borrower defaults.The borrower. If there was a co-signer, that person is also fully responsible for paying the loan if the primary borrower defaults.The borrower. If there was a co-signer, that person is also fully responsible for paying the loan if the primary borrower defaults.The borrower. If there was a co-signer, that person is also fully responsible for paying the loan if the primary borrower defaults.


If spouse buys you a car can dealer come take car if he is not paying on the loan?

Yes a vehicle can be repossessed if the loan is not being paid on.


How do you find out if you are responsible for paying for a repossessed car that is in another person's name but you co signed on?

"How do you find out if you are responsible ..... but you co signed on it."" You co-signed, you are responsible. What do you think "co-signing" is for? Call a local attorney.


Are you responsible for paying the deductible if the accident was in a work vehicle?

only if it was your fault


Can a surviving spouse be held responsible for paying for a vehicle if their name is not on contract?

yes.


Is the cosigner of a vehicle responsible for the negligent operation of the vehicle?

No. A cosigner is just responsible for paying it off if the negligent driver wrecks it and and can't work to make the payments.


Can you get a reposession back after filing chapter 13?

No, once a vehicle is repossessed it is no longer your vehicle. The only way to get it back is to make some sort of arrangement with the financier for you to keep the vehicle. This is usually paying off the missed payments, or even paying off the full balance. What you have to do to get it back is dictated by the financier.


When a car is repossessed what do you do with the insurance?

When a car has been repossessed the person paying the insurance should cancel it.