Legal Question in Banking Law in Virginia

car loan

I co-signd an auto loan for a family friend, they defaulted. The bank came after me for the payments. I could not afford the payments I let them have the car. I reached a settlement with them, and paid the settlement. Can I go to court to recoup my money.


Asked on 10/09/08, 9:36 pm

1 Answer from Attorneys

Daniel Press Chung & Press, P.C.

Re: car loan

Yes, you do have the right to go after the primary borrower if you have to pay on a guaranty on a loan.

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Answered on 10/10/08, 11:04 am


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