Cosigned for an SUB Mercury Mountaineer

[pec0001]

Cosigned for a Mercury Mountaineer SUB

What is the name of your state? Texas

I cosigned an auto-loan for my wife's brother's ex-gril friend. Now that she is not with him she has been late for the past 2 months and I think it has been reported to the credit beraue. She still hasn't pay the last payment and is going over 30 days and the interest rates keep adding up. What are my rights? I know she is the primary lender and I'm the cosinger. I'm willing to take the car and refinace it on my own to pay the loan. I don't knwo how to go about taking the car away from her with out getting in trouble with the law. I desperately need advise on this matter.

 

[divgradcurl]

If your name is on the title, go get the car -- you are an owner, and are entitled to the car.

If your name is not on the title, all you can do is ask her to sign the title over, or to sell you the car. You have no right to possession of the car if you are not on the title.

Otherwise, about all you can do is keep paying on the loan to protect your credit, and then sue the other party for the payments made on her behalf.

This is why cosigning a loan is usually a bad idea...

 

[pec0001]

Thanks for the advise.
I don't know if I'm on the title. Where is the best place to find out?. I've been thinking about going to the dealer to find out if I'm on the title. Also, do you think I have the right to ask for a spare set of keys from the dealer so I can go ahead and take possesion of the vehicle?

sincerelry,
pec0001

 

[moburkes]

Thanks for the advise.
I don't know if I'm on the title. Where is the best place to find out?. I've been thinking about going to the dealer to find out if I'm on the title. Also, do you think I have the right to ask for a spare set of keys from the dealer so I can go ahead and take possesion of the vehicle?

sincerelry,
pec0001

I'm not sure how to find that out. However, the dealer is not going to give you an extra key. They can, however, direct to to a place where you can BUY a spare key. Its not cheap, but a lot less expensive than having your credit report hit.

 

[teflon_jones]

As a co-signer, your name won't be on the title. At this point, you need to sue the other party. How much is the vehicle worth? Depending on the value, you may be able to file your case in small claims court.

 

[pec0001]

The amount which has increased due to the daily interest charges is around $19,600.00. What is small claims? Can I sue her with this amount? I was told by the collectors that my name is in the title. I have already requested a copy of the contract. Would the contract say if I'm on the title?

 

[pec0001]

I have reposses the vehicle and now I'm ready to sue the heck out my sister in law? How should I proceed? I know where she works. I don't know where she lives. She has a P.O. Box. Shoud I try to talk to her into signing a realseas of ownership form first without going through the court? Does any body have some advice? I have a copy of the registration receipt and of the title from the lein holder. I appear on all documents as well as her. Right now I can't get the names swaped because she has to sign the form as well.
I haven't talked to her since I repossed the vehicle.

 

[jennings85]

Perhaps if you would talk to her first, she would be willing to get out of this situation and avoid a court case.
Otherwise, if you want to spend money taking her to court, go to Google and search for TEXAS SMALL CLAIMS COURT and you will find answers to all your questions about doing it. If your case is not eligible for small claims, there are many websites to advise you of civil court law, and then you would probably have to retain a lawyer.
Suing someone in small claims is not easy, it is time-consuming and costly. You might win the case, but that doesn't automatically put money in your pocket. You must then pursue getting the money from the defendent, another time-consuming task. Why go through the agony when a mere phone call to the defendent might take care of everything?