Legal Question in Credit and Debt Law in California
Guarantor
We have a commercial truck that someone had cosigned for us we are unable to continue with the payments and the finance company told us to give it to the guarantor. What happens now?
Asked on 9/04/07, 4:21 pm
1 Answer from Attorneys
Debra Palomino
PALOMINO LAW FIRM, P.C.
Re: Guarantor
It sounds like the creditor will also be pursuing your co-signer (guarantor) for the balance of the debt. Both/All of you who signed remain liable for the balance, and possible accrued interest, costs, and attorney's fees.
Answered on 9/04/07, 6:24 pm
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