New York  |  Real Estate Law

Legal Question

Asked on: 5/09/13, 11:38 am

If you as a co-signor on a vehicle contract agree for your car to be willfully repossessed, will it effect your credit?

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Answered on: 5/09/13, 11:45 am by Daniel Scott

Yes; both the primary borrower and co-signer would each be liable for the debt so the nonpayment would appear on both persons credit reports.


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Daniel U. Scott, Esq. 70 Niagara St, Ste. 611 Buffalo, NY 14202

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Answered on: 5/09/13, 3:19 pm by Arnold Nager

Absolutely, yes.


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Arnold H. Nager, Esquire 79 Cliff Street Hastings On Hudson, NY 10706-2101

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