He will not return my calls or answer my calls. Bank sent me a letter. If I pay, do I have a right to the truck if I can locate it?? My son is now on a path to destruction. I had excellent credit until this. I will pay the balance if I have any legal rights.
2006-09-18 16:39:31 · 11 answers · asked by Anonymous in Family & Relationships ➔ Family
you need legal advice, and unless some lawyer out there answers you, you might be outta luck...get a lawyer and maybe get some help for your son, whatever his problem is.
2006-09-18 16:42:41 · answer #1 · answered by Anonymous · 0⤊ 1⤋
Um the right to kick his sorry little A**$$.
Bottom line... check with a local lawyer. My thoughts are that you probably have a case that you could take to court..to fight for payment of it....or for the right to the truck, but to take it, I dont think you can do that. Is your name on the title as well? If you do...you can easily take it and not have to worry about any legal ramifications. It's as much yours as his. If you want to sell it....to get the money out of it....eh... i dont know. If you choose to sell it though.... Remember to calculate how much he has paid, and how much you had to. You will have to sell the truck and give him a portion of what it sold for (depending on the percentage of what he paid... 10% of the principal of the loan means he gets 10% of the money that you sold it for). This is to protect you from any issues.
2006-09-18 23:54:04 · answer #2 · answered by the_thoughtless_ponderer 4 · 0⤊ 0⤋
If the ownership belong to your son, then you pay the bill, the truck still belong to your son. If you don't pay the bill, then the truck belong to the Bank. The Bank can depossess and auction it.
2006-09-19 22:45:05 · answer #3 · answered by Tan D 7 · 0⤊ 0⤋
I'm not sure what legal rights it would give you. I do know that you will have to pay. When you co-sign on a loan, you agree to make the payments if they are not made.
2006-09-18 23:42:41 · answer #4 · answered by ♥dream_angel♥ 6 · 0⤊ 0⤋
A tricky young woman tried to persuade me to cosign a car loan for her. I laughed in her face. It was the last time I saw her, but 'twas no loss really. You raised the boy, and you failed to teach him to be responsible for his debts. Now he's swindling you. Are you really surprised?
2006-09-18 23:46:32 · answer #5 · answered by David S 5 · 0⤊ 0⤋
You cosigned, you have to pay if he defaults, depends if your name is on the title as to ownership and subsequent sale rights.
2006-09-18 23:43:33 · answer #6 · answered by live2ride 5 · 0⤊ 0⤋
you own the truck in some ways, you need to check with your local government laws because it will be different state to state. I suggest you take it away from him.
2006-09-18 23:42:02 · answer #7 · answered by Anonymous · 0⤊ 0⤋
You have no rights other than to pay the bill. Sad isnt it? I would never put my name on another persons loan.
2006-09-19 07:17:35 · answer #8 · answered by ? 3 · 0⤊ 0⤋
Ask an attorney, but I'm pretty sure that if you pay for it, it's yours.
2006-09-18 23:59:23 · answer #9 · answered by IthinkFramptonisstillahottie 6 · 0⤊ 0⤋
It's now your truck.
2006-09-18 23:43:26 · answer #10 · answered by master_der_man 6 · 0⤊ 0⤋