Legal Question in Credit and Debt Law in California

Re: Rights of Co-signers

Your husband has put himself into a difficult situation. Sometimes it makes sense to contact an attorney before creating a situation like this. In any case, your husband can best help himself by contacting the creditor and working out a payout of the loan, if he is in a position to do that, and get an agreement, written, that they will not file any negative report against him with the credit bureaus. Having protected his credit, he then must pursue your daughter for a responsible resolution of her debt. If this is her first experience in borrowing money, it might well be a good lesson. Getting title to the car may not be your husband's best solution. Your daughter's cooperation will make this a much more amicable situation. I hope I have been of some help.

Re: Rights of Co-signers

Thanks for your posting. He can certainly pay off the loan and repossess the truck. Or, he may want to contact the lender that refinanced the truck and ask them to remove him from the loan, as he would not have signed the new loan documents.

I hope this helps -- but if you do have any questions, please feel free to contact me via email.