Hi! :) I live in CA and I co-signed on the purchase of a car for my nephew. Our agreement was that he would pay all the fees for the car and that he just needed my credit to buy the car. He is the only one that has been using the car. Recently he has not paid the car loans, has not paid for insurance costs, has not payed registration fees, and has not paid a few parking tickets that he got. So I have had to pay these amounts to keep my accounts in good standing. Is there any legal precedence for me to go to court and sue him for any of these costs? If so, which ones and would the judge make him pay all the costs or just half since we are both co-buyers? He has a full-time job and makes a decent income but now refuses to pay these costs no matter what I say to him. Thanks for the help!
2006-10-09 10:18:27 · 2 answers · asked by Anonymous in Politics & Government ➔ Law & Ethics
You can't sue him. You are severally and jointly responsible for the debt as co-signers. That means if he doesn't pay, you have to pay. All you can do is make the payments to keep your credit from getting further damaged.
In hind sight, think about this: There was a reason why he needed a co-signer. That reason was that he didn't have good credit and didn't pay his bills.
If you have a set of keys, you could go get the car and drive it away from where ever he parks it. You can't be charged with car theft since your name should also be on the title. (If you aren't on the title, you can't take the car.)
2006-10-09 11:18:19 · answer #1 · answered by Mama Pastafarian 7 · 0⤊ 0⤋
i would take the car from him until he pays you what is owned ...youcosigned for him and if he dont pay the bills it will wreck your credit.never cosign unless the person is a very responsible person...let this be a lesson learned.. sorry that you have to go through all of this ..but if he dont pay the bills the bank will then come after you to pay.
2006-10-09 10:57:50 · answer #2 · answered by mary c 3 · 0⤊ 0⤋