Legal Question in Credit and Debt Law in California

Cosigner liability

I cosigned an autoloan for my 22 yr old stepson. He dropped out of life and let his car get impounded for unpaid registration. The loan company is going to get it out and reposess it. The say I will be charged any fees incurred.

When I cosigned for the loan, I thought I was obligated for the loan, and not fees for things I have no control over.

Am I obligated for registration, towing, impound, etc... ?


Asked on 1/12/05, 12:12 am

1 Answer from Attorneys
Ken Koenen Koenen & Tokunaga, P.C.

Re: Cosigner liability

Yes, you are. You agreed to all terms of the loan, which include fees for reposession, etc. This can also affect your credit and result in a deficiency balance if they cannot sell the car for enough to pay the loan. You would be wiser to try to get the car back yourself.

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Answered on 1/12/05, 11:48 am


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