Legal Question in Credit and Debt Law in Georgia
co-signed for car
We co-signed for a employee to buy a car. She walked out on the job still owes for the car. She never turned in the title, insurance info etc. She bought the car from her friend. Please help
Asked on 1/22/07, 3:56 pm
1 Answer from Attorneys
Scott Riddle
Law Office of Scott B. Riddle, LLC
Re: co-signed for car
A co-signer usually has all of the risk, and none of the benefits. You are liable for the debt and your credit report suffers if the other person does not pay, but you usually have no right whatsoever to the car. If you end up having to pay, you can consider filing suit against the person in Magistrate or State/Superior Court, depending on the amount at issue. In the future, co-signing should be treated as a gift to someone like a family member, and not something for a friend, co-worker, etc.
Answered on 1/22/07, 4:05 pm
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