Legal Question in Credit and Debt Law in California
Is the car safe?
May car's title is in My and and My Dad's name. It's still be financed and the payments are made and on time. However, my Dad is being sued by a credit card company for money and they are threatning to repo the car. If my credit is clear and the car is still being paid timely, can they touch an assest that's mine also? I also am the sole driver of this vechile and am completly dependent on it for transportation.
1 Answer from Attorneys
Re: Is the car safe?
Only the finance company can repo the car. Since all your payments are being made on time, the car cannot be repoed. If the credit card companies get a judgment against your dad, they could get a court order allowing the sheriff to seize the car, but this would be expensive for them and they would have to pay what is owed on the car plus pay you an exemption amount of $2500. Must be a pretty valuable car for them to be interested in it.
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