Legal Question in Consumer Law in Michigan

Auto Loan Signer & Co signer responsiblity

I co-signed a loan at the ford motor co w/ my son & they made a mistake & my son ended up co-signer & myself as main signer. My son got a DUI & now can't make the payments. My only income is a monthly check of Social security $550.00 & I have my own car payment. As main-signer of this loan does Ford Motor Co have the ability to garnish my social security check or go after my house. Or will the balance of this vehicle go against my sons credit? Please give me the information on this as soon as possible.

Thank you for your time.


Asked on 8/15/04, 10:25 am

1 Answer from Attorneys
Gregory J. Roth Gregory J. Roth, PLLC

Re: Auto Loan Signer & Co signer responsiblity

To go after your assets, the creditor would first have to take you to court and obtain a judgment against you. Social security income is generally protected from garnishment. The creditor may seek to levy on your house but effectiveness would depend on how the property is owned and the existence of prior liens. Of course, the creditor most likely has a security interst in the vehicle, which could be repossessed. www.lawgreg.com

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Answered on 8/15/04, 5:47 pm


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