Legal Question in Credit and Debt Law in District of Columbia
Cosigner totaled automobile
To help a family member out, I was suppose to cosign a used car for someone but I actually became the primary and she became the cosigner. I don't know how that happen and I guess it doesn't matter who is who. Anyways, she was the only driver of the car and she totaled it. She only had basic liability insurance. She was suppose to get full coverage as she said but didn't. Since both our names are on the agreement of the loan, it really doesn't matter whose primary or cosigner right? We're both responsible for payment. Where do I stand with the fact of her totaling the car? I believe she was fully at fault. She registered the car. I don't know if I'm on the the title or not. I guess it's still in the dealers or loaners name since the care is not paid off. Is there anything I can do besides start paying off the loan? I know I signed the agreement. I just wanted to know what my options are if any. Any help is appreciated. Thanks!
1 Answer from Attorneys
Re: Cosigner totaled automobile
Each of you signers of the loan agreement for the automobile is what the law terms jointly and severally liable for the entire loan. If you end up paying disproportionately on this loan, you may be able to bring an action for contribution against your co-signer to recover at least some of these funds.
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