Legal Question in Credit and Debt Law in Florida
auto loan
I co-sign for a loan, and the car was repoed, they now want 9000.00 dollars, what can the do, i own a home, and I'm 79 years old, my grandson seam not to want to help me pay for the loan,, what can i do.. please tell me,, thank you..
1 Answer from Attorneys
Re: auto loan
NOTE: This communication is not intended as and should not be interpreted as legal advice. Rather, it is intended solely as a general discussion of legal principles. You should not rely on or take action based on this communication without first presenting ALL relevant details to a competent attorney in your jurisdiction and then receiving the attorney's individualized advice for you. By reading the "Response" to your question or comment, you agree that the opinion expressed is not intended to, nor does it, create any attorney-client relationship, nor does it constitute legal advice to any person reviewing such information, nor will it be considered an attorney-client privileged communication. If you do not agree, then stop right here, and do not read any further.
The bad news is that if you co-signed for the loan you are legally responsible the same as your grandson is. The good news is that your home is safe from any creditors provided it is your homestead. The company can sue you and get a judgment but cannot take your home.
Scott R. Jay, Esq.