Can a car be taken away to pay credit card bills if two people are on title, one has good credit other has bad

Question

The car bill will be paid by both parties of good and bad credit. I don't want the car being taken away from me because I owe on credit card bills. My mother has good credit, and I have bad. I think if my name and her name is on the title and loan they can't take away the car can they? The car is owned by two people and two people are on the title, not one (myself) but my mother with perfect credit and myself with poor credit. I figure if my name is on this I can rebuild my credit history, is that true?

Answer 1

They can't take the car away unless you don't make the car payment.

No other debt collector can take it. Only the bank that you're making car payments to as they have a lien on it if you don't make the payments.

And yes, if you make those payments on time every single month, it will help your credit. If you make them late, you'll hurt your mothers credit score and then she should beat you to within an inch of your life for messing up her score so don't you dare make late payments. She's doing you a huge favor co-signing on that loan and helping you. Don't screw it up.

Answer 2

you would in person-friendly words lose the automobile if no individual will pay the funds, in which case it should be repossessed no count number how strong or undesirable the credit of the people on the identify is. If someone were given a judgement adverse to you for different unpaid costs, and the automobile has major fee, they could be waiting to get a courtroom judgement seizing it as an asset of yours. even if having your father and mom on the identify with you should end that from occurring ought to count number on the guidelines the position you stay. you should purpose to get your credit repaired with assistance from paying what you owe - in case you do not, it will chunk you someplace down the line and also you may favor that you had. you would likely be way ahead to diminish up those charge playing cards and under no circumstances note for any more advantageous.

Answer 3

Whose name appears first on the title ? If it's your mother then, no. If it's you then, yes they can. Who has the loan ? If it's your mother then, no. If it's you, then, yes they can. By you being first, they consider you as the soul proprietor first with the responsibility of paying the debt owed.

Answer 4

Depends on which state you're in. Some states have exemptions for your car.

But generally if your name is on it, anything's possible.

Best advice: hire a lawyer specializing in debtor/creditor and bankruptcy law.