Legal Question in Credit and Debt Law in Massachusetts
Car Loan co-signer responsibility
My mom was told by a car dealership that for my nephew to get the car he needed to put a down payment now. Well he had the money in the bank but dealership talked my mom into putting the down payment on her credit card and signing paperwork for a credit check. She thought she was just helping out. End of story well this snake drew up papers putting my mom as a primary co-signer. My nephew is now having financial problems which is how this came to light. Is she responsible she didn't even realize she had done this the way the car guy explained it to her this was a one shot downpayment and my nephew could pay her back which he did.
2 Answers from Attorneys
Re: Car Loan co-signer responsibility
Unfortunately your Mother should have realized they would not need a credit check for a one time payment of the down payment on her credit card and should have read what she was being asked to sign. Now she will have to prove that the salesman not only misrepresented what she was being asked to sign but prevented her from reading it. Good Luck!
Re: Car Loan co-signer responsibility
Assuming your mom signed the paperwork as a co-signor, she would be jointly liable for the loan. Always consult with a licensed attorney in your state for advice prior to signing documents which you have trouble understanding.
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