Legal Question in Credit and Debt Law in Massachusetts

Re: Sorry I co-signed

I think the loan issuer probably had a duty to

notify you; I'm not sure. Certainly it seems unfair to you not to have had the opportunity to take over the payments (and perhaps repo the car for yourself) instead of having it sold at the notoriously low price that repo sales bring.

What city and state do you live in? Where is the loan company? Where was the loan issued? Where was the car bought? New or used? Was the loan money used to purchase the car? Where did the primary borrower live at that time?

Do you know where she is?

Why did you co-sign, anyway? ... bad judgment?

Re: Sorry I co-signed

Did you keep a copy of the document you signed? And do you have any other loan documents?

Meanwhile, be sure to inform the collection agent that the amount owed is in dispute, preferably within the first 30 days of when they contacted you, but it's not too late if that time has expired; they'll just assume you haven't denied it until you tell them otherwise.

Write to them with certified or registered, with return receipt requested and mail yourself a copy by first class on the same date (and don't open it when you get it back!). Demand written evidence of your debt including some document with your signature on it. Someone should then send you the document(s). If that one refers to others, demand the others. Once you get those, contact me again and we'll work something out.

I can write those demand letters for you (quoting the law, etc.) but I charge $400 retainer, so it's best to see how far you can go on your own before paying me any retainer. (I charge as a fee a percentage of what I eventually save you, too.)

Frankly, I'm sorry you co-signed also but my sensibilities tell me that the lender has done some thing wrong here which I'd like to correct for you.

Meanwhile, you also have recourse against the borrower. If you don't know where in CO, there are some ways to track that down which we can talk about later. But first things first.