Legal Question in Civil Litigation in Georgia
we co-signrd with an individual and had to make a payment because the finance company kept calling us. Now the March payment has been made but the check bounced. What can we do legaly to recover the car?
2 Answers from Attorneys
Unless you have an appropriate security interest in the car, and all the paperwork is in order, nothing. You accepted the risk of exactly this situation when co-signing. People need co-signers for a reason - they have a history of not paying, or no history of paying.
Unfortunately you are responsible for repaying the loan. You may be able to discharge the debt in bankruptcy but you need to consider whether you have other liabilities in addition to the auto loan that would make the bankruptcy filing worthwhile. See a lawyer for more details.
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