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Contact the people who gave the loan. You are the next person they will look to for the money. When you cosign you are saying you will pay the loan if the other person doesn't, so now you owe. You could also take the signer to small claims court to get your money back if you end up paying for the loan.
What else can I help you with?
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.
How do you get your name off of an auto loan that you cosigned on if other party cannot get another loan and has nobody willing to take over as cosigner?
A cosigner cannot be removed from the debt obligation except by a refinancing of the loan without the original cosigner's participation.
What are the options if an exfiance wants off a cosigned student loan but the borrower cannot get another loan to pay off or refinance the cosigned loan and no the loan has never defaulted?
Since your ex-fiance cosigned on the loan, they are just as much obligated to the contract as you are. The only way they could get their name "off the loan" was, as you said, for the original borrower to obtain a new loan, in order pay off the original obligation. If this is not possible, then she is locked into the original contract.
You cosigned on a loan without mu spouses knowledge - Have you rished his business?
You are responsible for co signing the loan. If you are partners with your husband in his business, have a loan together on the business, then yes, the business becomes an asset that could be attached if the loan you cosigned on should be defaulted on.
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 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.
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.
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.
The person you cosigned for on a car loan passed away am I still responsible for the loan?
Yes
If you cosigned for an auto loan and your name is on the title do you have a right to the auto?
Absolutely, name exists on title therefore you are part owner.
Can a lien be put on my property if im a senior citizen without going to court 1st for cosigned car?
Unfortunately if you cosigned a loan that means you were willing to pay the loan if the other signer defaults and if that happen they will go by any means to collect that money that you "cosigned/said" you would cover if the other person defaults. I would go after that person that you cosigned for if it has gone this far.
If you have been served a notice of deficiency for a delinquent auto loan you cosigned on will the bank settle?
Make them a REASONABLE offer. All they can do is say no.
How does a cosigned loan work?
If the person who the loan is for doesn't pay, the co-signer has to pay if thay don't pay it will afeect their credit also.
In North Carolina if you have cosigned for an auto loan and the loan is in default and the auto is damaged is the cosigner responsible for the damage?
No - just the loan. BUT! The seller may repossess and sell the damaged car for $500.00 to apply to the loan rather than maybe $2000.00. So it's about the same anyway. You lose.
What is the remedy if both the person and car you cosigned for an auto loan are missing?
File for missing person. If your name is also on title then file for theft, if not then that cannot be helped. You can apply with the bank that your name be removed from the loan which most likely will cause you to pay a certain amount or you wont even be able to have it removed.
If someone cosigned for a auto loan and you defaulted can they all of a sudden place a lien on your house right before you sale it in 3 weeks?
yes they can do it
