Legal Question in Bankruptcy in Nevada

Even before the car is repossessed, delinquent payments or nonpayments will harm your credit score for every month the payments are made late or not paid at all. A much bigger problem will be coming your way after the vehicle is repossessed. The vehicle will be sold for a lot less than you might think and you and the person you thought you were helping will both be sued. When a court judgment is entered, the person with the job and the most assets will be subject to a writ taking wages, bank accounts, and other property to pay off the court judgment. In short, the future won't be very bright for you in many many ways, which is why most attorneys will tell you never to cosign a vehicle loan.