Legal Question in Consumer Law in Tennessee
primary lien holder defaults on car payment
I cosigned for my friend's car approx 2 yrs ago. She gave the car to her sister who was supposed to continue the payments. The sister is now 2 months behind on the note and the dealer is calling me for payment. I failed to relinquished my responsibility at the time. What recourse do I have now?
Asked on 7/18/07, 7:40 pm
1 Answer from Attorneys
KJW Firm
PLC
Re: primary lien holder defaults on car payment
You must pay on the note until the bank releases you from it. You can seek damages against the original friend for anything you pay since that is who you had the agreement with.
Answered on 7/19/07, 7:22 am
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