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Old 02-01-2006, 09:24 AM
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Join Date: Jan 2006
Posts: 8

co-signed


i co-signed for a truck for my son . the only income i have is my social secutity if he doesnt pay can they take my social security check
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Old 02-01-2006, 09:53 AM
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Join Date: Feb 2005
Posts: 3,359
They can take the truck. Then they can get a judgement for the outstanding balance still owed. They can then use that judgement to garnish wages and freeze bank accounts. You can get your bank account excluded by fillling out some forms if it only holds SSI deposits, but generally you do that after it has been frozen in roder to get it unfrozen.

And of course your credit will be ruined by the bad loan, reposession and judgment long before your bank account is affected.
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