2
2broke
Guest
Approximately 2.5 years ago, I cosigned for a car for a friend of ten years. About three months ago, I started to receive notices of delinquency. I tried to contact my friend to see if he was having problems, but he wouldn't return my calls. I tried to go to his house, but he wouldn't answer the door. Now, the credit union is threatening to garnish my wages. However, with further research, I have found that the vehicle hasn't had plates or insurance in 1.75 years. The credit union doesn't want to repossess the car. The car does show evidence of being hit and scratched. Unofficially, local police have said that I can take the car as my name is on the title because I cosigned. Do you have any recommendations as to what my rights are in this situation? Any guidance you can offer would be appreciated. I am in Michigan.
[Edited by 2broke on 02-01-2001 at 04:46 PM]
[Edited by 2broke on 02-01-2001 at 04:46 PM]