Legal Question in Credit and Debt Law in Iowa

co signer

I cosigned a loan in which the originator faulted and I have had to pay the entire loan. the originator sold the bike to someone wihtout the title and I am being told by teh bank they have to return the title to the originator , what am I to do about the money I paid for this bike, doesn't that make the bike mine since I had to pay for it and he sold it without the titel and got paid by this other fellow?


Asked on 8/26/08, 5:16 pm

1 Answer from Attorneys
David Anderson Anderson Business Law LLC

Re: co signer

You have a claim vs. the Originator for the amount you paid to the lender.

You may wish to start by having an attorney issue a Demand Letter to the person who defaulted on the loan.

Since they now have the money from the sale of the bike, you should take action immediately.

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Answered on 8/26/08, 5:22 pm


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