Legal Question in Credit and Debt Law in District of Columbia

Re: cosigned

As a co-signor, you're responsible for the "Whole Enchilada", so to speak, if you know what I mean(the amount of the loan).

Better see your friend about signing the title over to you and delivering the vehicle into your possession so that you can dispose of it in a manner that will likely minimize any possible losses which as co-signor you might otherwise incur.

Re: cosigned

this happens quite frequently. Please know that when you co-signed, you literally promised to pay yourself if the other guy didn't pay. So, now you are on the hook. So, you need to try to get your friend to sign over title so that you can sell the car and minimize your losses; and of course you can always seek to collect from your friend (though someone who hasn't been able to make car pymts probably doens't have a lot of money to collect from).

best of luck on this.