in 2006 I co-signed for my cousin on a car loan and I signed the wrong space and now the bank is coming after me for the money my cousin owes on the car she lost and they have her as the co-signer and me and co-buyer but how can that be when the title is in her name and the car insurance was in her name and the plates was in her name. we went to court and I have to pay all the money and she doesn't have to pay a dime what can I do to get out of this or cant I? please help
Answered on: 7/07/13, 8:45 pm by John Sauter
There is no legal difference between co-signer and buyer. Whether you were the co-signer or co-buyer, you're still responsible for the full balance of the loan. The bank can choose to look to one person (or both) for the full balance.
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