What is the name of your state?What is the name of your state?MI
Auto Loan Liability Questions.
Fiance purchases car for me.
I traded my lease vehicle in.
I was unemployed at the time.
Car is in his name.
Plates are transferred from my (I was owner at time of my own car) car to the new car.
I.E. Plates on new car are mine.
Auto Loan bill comes to his home in his name.
He refuses to pay payment.
I am still unemployed to date.
I called the Credit agency and they stated that I am the co-signer on the loan.
I was not employed at the time the papers were signed. I have no credit, due to bankruptcy in 2000. The ran his credit and processed the loan.
The only credit I have established was towards the car I turned in.
He has called off our wedding.
The car is in his name. He states he will not take the car away from me.
He states that I am liable for all payments.
What is my liability?
Credit agency stated that I can request a Transfer of Equity.
But if declined the loan goes back as He being the Owner and Me being the Co-signer.
If I give the car back, he can default the loan and make me liable for the loan as a co-signer? correct?
Or since he is legally the owner he is responsible?
Please Advise.
FMC is the creditor - for which he is an employee.
Thank you.
Auto Loan Liability Questions.
Fiance purchases car for me.
I traded my lease vehicle in.
I was unemployed at the time.
Car is in his name.
Plates are transferred from my (I was owner at time of my own car) car to the new car.
I.E. Plates on new car are mine.
Auto Loan bill comes to his home in his name.
He refuses to pay payment.
I am still unemployed to date.
I called the Credit agency and they stated that I am the co-signer on the loan.
I was not employed at the time the papers were signed. I have no credit, due to bankruptcy in 2000. The ran his credit and processed the loan.
The only credit I have established was towards the car I turned in.
He has called off our wedding.
The car is in his name. He states he will not take the car away from me.
He states that I am liable for all payments.
What is my liability?
Credit agency stated that I can request a Transfer of Equity.
But if declined the loan goes back as He being the Owner and Me being the Co-signer.
If I give the car back, he can default the loan and make me liable for the loan as a co-signer? correct?
Or since he is legally the owner he is responsible?
Please Advise.
FMC is the creditor - for which he is an employee.
Thank you.