Legal Question in Real Estate Law in New York

If you as a co-signor on a vehicle contract agree for your car to be willfully repossessed, will it effect your credit?

Asked on 5/09/13, 11:38 am

2 Answers from Attorneys

Daniel Scott Daniel U. Scott, Esq.

Yes; both the primary borrower and co-signer would each be liable for the debt so the nonpayment would appear on both persons credit reports.

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Answered on 5/09/13, 11:45 am

Arnold Nager Arnold H. Nager, Esquire

Absolutely, yes.

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Answered on 5/09/13, 3:19 pm

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