Legal Question in Credit and Debt Law in Michigan
Truck payment due
If you have someone cosign a truck for you and the cosigner takes the truck away whose responsible remaining payments of the truck?
Asked on 1/08/02, 4:18 pm
1 Answer from Attorneys
Don Darnell
Darnell & Lulgjuraj, P.C.
Re: Truck payment due
As far as the creditor is concerned, you are both still responsible for the payment on the truck. The twist here is that the original party has a right to have the vehicle regardless of what the cosigner might think, as long as the title reflects the orginal owner and not the cosigner - and most will.
Answered on 1/10/02, 8:06 pm
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