Re: Cosigning Automobile

Posted by Linda on December 04, 2001 at 22:39:39:

In Reply to: Re: Cosigning Automobile posted by Matt on December 04, 2001 at 18:09:14:

Hearsay. If you have co-signed, the debt is yours. Period. But if the person you cosigned for is not making the payments, you have every right to go get the car, and take over paying the payments, etc.

I don't know every rule because how you do it is probably different in different states, maybe even in each municipality.

If I were the one doing this (I would never, ever co-sign for anyone, under any circustances BTW) I would go down and speak with the magistrate, so that I followed the proper procedure in my state/municipality, whatever.

Since the vehicle is probably registered to the other person, I'm sure there is some paperwork involved, and perhaps the police have to be present when you go to get the vehicle, I don't know.

Linda

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