wanting to know what paths available to get him out of this situation, ex has car, has not paid for car, cannot be found, they are going after my brother, what can he do?
2007-11-29 07:06:00 · 7 answers · asked by Anonymous in Politics & Government ➔ Law & Ethics
If he cosigned for the car, he is equally responsible for the debt. Basically, he and his ex are both liable, but the lender can get relief from either or both of them. Since they can't find her, they are coming after him. If your brother pays the debt, he will have to sue her to get the money back.
2007-11-29 07:12:55 · answer #1 · answered by Heather Mac 6 · 1⤊ 0⤋
They are both responsible for the debt equally and separately. He can be sued for the entire amount due.
1. He should make the arrears payments and ensure the payments are kept current.
2. He should sue the ex-girlfriend for the amounts he paid.
His credit is being ruined as well. Hope he learns.
2007-11-29 15:09:52 · answer #2 · answered by davidmi711 7 · 4⤊ 0⤋
He can make the payments or take a huge hit on his credit when they repo the car - if they can find it, and/ or the bank can sue him for the past due amounts, repo costs, monies owed after it is repo'd and sold (if they get less than is owed), and legal fees on the lender's part.
He is just as liable for that loan as she is because he signed for it.
Life Lesson #576: Never, ever, EVER cosign for anyone....especially boyfriends and girlfriends!
2007-11-29 15:13:23 · answer #3 · answered by Susie D 6 · 2⤊ 0⤋
My ex-father-in-law cosigned with my ex-wife and I for a loan for a car which he had! Follow that? Okay, the cashier's check was handed directly to him! When the ex and I split (about a year later) the car was repoed and the bills come to ME ALONE with just the father-in-law and my name! You would think that it would be his responsiblity first with being the co-signer, and secondly equal to the ex wife and myself!
2007-11-29 15:11:08 · answer #4 · answered by primalclaws1974 6 · 0⤊ 0⤋
nothing! he is legally responsible !... if he doesn't pay it's his credit that goes down the tube ! best thing he could do is track her down...get the address and call the place that has the loan and tell them to repo the car ...then he can sell the car to cover the losses or pay the difference
2007-11-29 15:38:40 · answer #5 · answered by Robert P 6 · 1⤊ 0⤋
He can try to reposses the car himself or hire someone to do it..then sell it to pay of the car dealer. OR, he can take her to court and force the sell of the car through court order.
2007-11-29 15:14:32 · answer #6 · answered by lahockeyg 5 · 1⤊ 0⤋
If he signed the contract, he will have to pay or suffer the consequenses of default.
2007-11-29 15:09:34 · answer #7 · answered by regerugged 7 · 4⤊ 0⤋