English Deutsch Français Italiano Español Português 繁體中文 Bahasa Indonesia Tiếng Việt ภาษาไทย
All categories

In 2001 a John co-signed for a car for Mary. Mary stopped paying on the car. A few months ago, the finance company took the car back. The finance company is seeking payment for the portion still owed. Mary is now working, but John is disabled. The finance company has called John and demanded the balance owed or they would sue or get the money from his bank account. They know where Mary lives and know where she works, however; they are harassing John. John wants to know that since he is 100% disabled, and is living on a fixed income, and Mary is an RN who is making much more, if they can sue John, take his home and/or get the money from his account, if any. Please respond ASAP

2007-03-20 16:38:53 · 3 answers · asked by Bobbie S 1 in Business & Finance Other - Business & Finance

Correction: John co-sighed in the year of 2000 for a 2001 vehicle. John was not disabled at the time that he co-signed, but he became disabled after he co-signed. The finance company informed John that the reason that they are attacking him is because he has more to offer them than Mary. The finance company knows that this is getting next to John, so they are now calling every 30 minutes.

2007-03-20 17:07:21 · update #1

Yes, It is a debt collection agency that keeps calling John

2007-03-20 17:14:43 · update #2

Ooops, I start my first sentence off with a John, but the person's name is John.

2007-03-20 17:19:29 · update #3

3 answers

He will need to contact a lawyer but I'm thinking he's been contacted by a debt collection agency and most will say just about anything to make someone pay it to just have them go away. Should he be sued for this, he can sue her for the money. But he is still responsible since he's the original co signer Remember anyone can be sued.

2007-03-20 16:44:04 · answer #1 · answered by wildirishrose299 2 · 0 0

In co-signing he agreed to be responsible for the finances of the car. Disabled or not he can still be sued.

2007-03-20 16:51:39 · answer #2 · answered by ophelliaz 4 · 0 0

Yeah, afraid so. They can't take his house though.

2007-03-20 16:48:28 · answer #3 · answered by Sheriff of Yahoo! 7 · 0 0

fedest.com, questions and answers