New york, I am a cosigner on a car lease that was for 36months. The lease ended and the owner who was a friend of mine never returned the car. He sent in a payment in order to buy the car but he needed my signature and the payment was short $735. now he is no where to be found and GMAC is calling me for the car. I don’t know where the car is because I live in Florida. I am willing to pay the $735 and take care of what needs to be done but GMAC is saying that I can’t pay the $735 because they need both of our signature on the transfer of title. They are going to send him his money back and then charge off the account ruining my credit all on a technicality. I can’t find my friend and they (GMAC) can’t get in contact with him and they are not giving me any other options.
What can I do?
What can I do?