Legal Question in Elder Law in Illinois

Parents Cosigning for their grandchildren and finding out they instead bought tw

My mother is 78,father is 80. My father is ill and has been for several years since heart surgery-they live on a fixed income. They own a car which is paid for. My mother would rather go hungry than not pay a bill. They live in federal housing. My niece and her husband asked my dad to cosign for a car. They brought the paperwork to him and told him where to sign. My nephew went to my parents one month after his father(their son,my brother) died and brought the car salesman with him. They told my mother and father that all they had to do was to sign a few papers to cosign for my nephew to purchase a car. My parents have just found out by calling the banks due to late notices that they had bought my nephew's car,(his name is not anywhere) and that my dad is on the loan for my niece as part owner. My parents have never received nor have they been given any paperwork regarding either of these transactions. The consequences of cosigning was never explained to them. Now they have found out they bought the cars,not cosigned. Nephew's car is not insured, and is being repossessed tomorrow. Niece's car payments behind. What can they do? My dad is fully disabled veteran.


Asked on 5/05/03, 10:18 pm

1 Answer from Attorneys
Jay Goldenberg Jay S. Goldenberg

Re: Parents Cosigning for their grandchildren and finding out they instead bough

cosigning makes one liable on the debt, even without buying the car. In the second case they have some better argument for fraud since the salesman participated.

Call the offices of the Attorney General and State's Attorney and ask for Consumer Fraud divisions -- also if they have teams for elder fraud (they may be part of consumer fraud).

They've been quite active in these areas -- try the AG first.

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Answered on 5/05/03, 11:13 pm


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