Legal Question in Credit and Debt Law in Michigan

cosigner

cosigned for auto loan. the person is 2 months late on payments & could defult on the loan. what legel rights do i have in getting the truck & refinance even if he doesnt want to give up the truck. & let it get repoed


Asked on 12/07/07, 4:46 pm

1 Answer from Attorneys
Audra Arndt Audra A. Arndt & Associates, PLLC

Re: cosigner

you need to stay in contact with the lender, who is probably contacting you anyways due to the late payments. if you qualify for financing, the lender may enter into a new agreement with you. i would try to work this out before they repo or incur attorney fees, which they may try to pass on to you.

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Answered on 12/13/07, 11:16 pm


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