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Topic: car loan co-signer payment default trouble - options (Read 899 times)
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ault73
Newbie
Posts: 1
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I am a co-owner on a car loan, the other party (the one making the payments) have failed to make a payment. what are my rights to the car. can I go get it. how do I find out if my name is on the title? what do I do with a car I owe money on.. I dont want to ruin my credit. can I sell it?
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White Shark
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What does the loan agreement with the lender say about ownership?
What does the title say?
What State are you in?
Do you have a written agreement with the other co-signer? What does that say about your rights and responsibilities?
*I'm not a lawyer and not giving you legal advice. I'm only asking core questions you need to answer to get informed advice here or from your own lawyer.
This is not legal advice, but you might want to make any past due payments to prevent damage to your credit - that is a possibility and one of the risks when you co-sign a loan of any kind.
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