Legal Question in Civil Litigation in Missouri

automobile repo

I am a co signer on an auto that was a repo for defaulted payments. Car was sold and balance left. Am I required to pay the balance that was left?


Asked on 7/15/08, 12:08 pm

1 Answer from Attorneys
Michael R. Nack Michael R. Nack, Attorney at Law

Re: automobile repo

Yes, as a co-signor on the orignal loan documents you would probably be legally liable for the deficiency balance on the loan. Your liability might depend upon whether or not the creditor complied with all applicable laws in conducting the repossession and resale of the vehicle. If I were you, I would consult with an attorney. Good luck.

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Answered on 7/16/08, 11:35 pm


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