Legal Question in Consumer Law in Georgia
cosigner
if i cosign on a car for a friend.she doesnt have the car anymore. she wont tell me where the car is. the car is in process of being repo. what can i do. i try to talk to her about the suiation.she doesnt respond to me or the company.
1 Answer from Attorneys
Re: cosigner
When you co-sign a loan, plan to pay it. The reason people need co-signers is because a bank knows the person can't pay and you can, so they want you on the hook. It's really irelevant where the car is. If the loan isn't paid, you can be sued, and then face garnishment, etc. There is no defense to that (except filing bankruptcy). If you have a contract with the other person where she agrees to protect you and hold you harmless, you might be able to sue her on that, but if the car company can't collect from her, how do you plan to do it?
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The moral - nobody should co-sign loans (except ones they are willing to pay).
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