Legal Question in Credit and Debt Law in Missouri
co sign for loan
if i cosign a loan for a purchase and am being called about the payments can i pay it off and take the item purchased ?
Asked on 6/25/07, 12:44 pm
1 Answer from Attorneys
Anthony DeWitt
Bartimus, Frickleton Robertson & Gorny, PC
Re: co sign for loan
A cosigner has some rights to claim the purchased product, but you need either agreement from the purchaser, or some form of legal action to solidify your claim to the merchandise. If you pay off the item, you would then have a right to request that the person for whom you co-signed either make you whole, by full payment, or deliver the merchandise to you.
You should probably consult an attorney for assistance to make sure that you do everything by the book.
Answered on 6/25/07, 1:10 pm
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