WebAug 8, 2024 · By becoming a co-signer, you’re agreeing to guarantee the other person’s debt. If the borrower doesn’t make payments on the car loan or defaults, you’ll be on the … WebDec 2, 2024 · In some states, creditors must try collecting from the main borrower before collecting from the cosigner. If this is the law in your state, creditors can cross out or …
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What Happens when a Co-Signer Declares Bankruptcy
WebJun 21, 2014 · 1 attorney answer. Posted on Jun 21, 2014. If he has a key, he can get in the car and go - it's his right. You'd probably be better off trying to work a deal with him where you trade the car in. You still have to get his signature to release the title. 0 found this answer helpful 0 lawyers agree. Helpful Unhelpful. WebJun 5, 2024 · What rights does a co-signer have on a car loan? Cosigners don’t have any rights to your vehicle, so they can’t take possession of your car – even if they’re making the payments. What a cosigner does is “lend” you their credit in order to help you get approved for an auto loan. WebAug 8, 2024 · By becoming a co-signer, you’re agreeing to guarantee the other person’s debt. If the borrower doesn’t make payments on the car loan or defaults, you’ll be on the hook for repaying the ... reading grade 2 english