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cosigner rights

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garrand1487

Junior Member
What is the name of your state? Florida

2 years ago my father-in-law cosigned on a car loan for my sister-in-laws husband. They are now getting a divorce and he is 2 months behind on his payments. It is ruining my father in laws credit. Is there a way "legally" for him to take possession of the car to sell it?
 


Happy Trails

Senior Member
garrand1487 said:
What is the name of your state? Florida

2 years ago my father-in-law cosigned on a car loan for my sister-in-laws husband. They are now getting a divorce and he is 2 months behind on his payments. It is ruining my father in laws credit. Is there a way "legally" for him to take possession of the car to sell it?
He has no rights to the vehicle. As far as him trying to save his credit, he could pay off the loan. This is one of the reasons people should think very carefully if they are ever asked to be a cosigner.





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divgradcurl

Senior Member
garrand1487 said:
What is the name of your state? Florida

2 years ago my father-in-law cosigned on a car loan for my sister-in-laws husband. They are now getting a divorce and he is 2 months behind on his payments. It is ruining my father in laws credit. Is there a way "legally" for him to take possession of the car to sell it?
If your FIL's name is on the title, then yes, he can take possession -- but if his name is not on the title, and only on the loan, then Happy Trails' advice is truth.
 

NRaye1960

Junior Member
co-signers rights

OHIO
This is my exact question except I'm the co-signer for my niece who is no longer speaking to me and she's 2 months late. I would like to know what my rights are.
THANK YOU!
NRaye1960




garrand1487 said:
What is the name of your state? Florida

2 years ago my father-in-law cosigned on a car loan for my sister-in-laws husband. They are now getting a divorce and he is 2 months behind on his payments. It is ruining my father in laws credit. Is there a way "legally" for him to take possession of the car to sell it?
 

racer72

Senior Member
NRaye1960 said:
OHIO
This is my exact question except I'm the co-signer for my niece who is no longer speaking to me and she's 2 months late. I would like to know what my rights are.
THANK YOU!
NRaye1960
You have the right to start your own thread, it is considered rude to hijack someone elses thread.
 

pec0001

Junior Member
I'm in the same situation. What I have done since the creditor was contacting me on a daily basis trying to collect money from me, I asked them if I was in the contract as an owner. They told me yes. As soon as I verify that I was in the contract, I did the following two things:
1. Went to my local Tax office and requested a copy of the renewal registration receipt. It cost me a couple dollars. All you need is your driver's license.

2. Requested a copy of the title from the lien holder which is the credit company. I also made sure my name was there as an owner as well.

These two things enpowered me to go and tow the car away from her. I knew where she worked, so I went and picked it up and had it delivered straight to the car dealer.
Once in the car dealer, I had new keys cut and reprogrammed.

Right now I'm going to take the next step. I'm going to try to collect some signatures from her to get an extension to skip the next payment since Chrismas is around the corner. I had to pay the payment she was behind with. In order to get the extension on the Dec. payment and the signature on her releasing ownership of the car, I'm going to give her the option to cooperate with me or else I'm going to have to sue her. As long as you can prove that she is in default and that she can afford the payment you have the case won. You can look me up for my original Thread. Just do a search under Mercury Mountaineer and my user name is pec0001. You'll like it.
 
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