Re: co-signer's rights

Posted by JJ on November 03, 2001 at 08:08:27:

In Reply to: Re: co-signer's rights posted by Toby on November 03, 2001 at 05:41:48:

Toby,

I read your response to Mark above and you are wrong. You can be sued for out of statute debts. It is incumbent on you to appear in court and present the defense. If you fail to do so, you can have a default judgement entered against you.
As to your question. What reason does your sister give for taking the car? You state your payments are up to date but, have they always been on time. Any 60 or 90 day lates are going to show on her credit report as well as yours. Why not use a portion of the settlement you are getting and get your sister of the hook? Just pay of the loan for peace in the family.
Oh, didn't answer your question? Technically, no she has no right if the payments are current. But, I think she is nervous for some reason and it might be easier to just to pay off the car instead of pursuing it through the courts.

Follow Ups:

Post a Followup