Legal Question in Consumer Law in Georgia

car

My is--name removed-- i cosigned for a car. i do not have a license and the car was repossed but i recently found out that the lender me as the primary and not the cosigner, what are my rights?


Asked on 8/04/08, 2:34 pm

2 Answers from Attorneys
Glen Ashman Ashman Law Office also dba Glen Ashman Attorney

Re: car

It does not matter if you are listed 1st, 2nd, or 257th. When you sign or cosign a loan, you have agreed to pay it. When a lender requests a cosigner it is because they are pretty sure the other party can't pay, and that you can, so it is always a foolish move to cosign unless you are prepared to pay the debt yourself.

Your rights are zero - you owe the money unless you go bankrupt.

Read more
Answered on 8/05/08, 12:22 am
Scott Riddle Law Office of Scott B. Riddle, LLC

Re: car

Your "rights" are in the contract you signed. We do not have a copy. However, in most instances it comes down to one thing - you owe the balance of the loan. That is basically what co-signing means.

Read more
Answered on 8/04/08, 2:37 pm


Related Questions & Answers

More Consumer Law questions and answers in Georgia