Legal Question in Credit and Debt Law in Massachusetts

I am a cosigner on my daughter's car loan, and it is going to be repossessed in 5 days. If I make the payments up to date, is it possible to have the car towed to my home instead of the impound lot if I take over the the rest of the loan payments ?


Asked on 9/18/15, 7:51 am

1 Answer from Attorneys
L. Jed Berliner Berliner Law Firm

Nope. You are not a co-owner you are a loan co-signor. A co-owner is on the car's title. Even a co-owner would need a court order to allocate possession of the co-owned car.

You're credit is already hurt from the missed payments and is about to take a second hit from the repossession.

See if your daughter be willing to sell you the car in exchange for your promise to take over the payments.

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Answered on 9/21/15, 6:03 am


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