Legal Question in Civil Litigation in New Jersey

If you co-sign on a car and it is repossessed, who is responsible?


Asked on 2/14/17, 5:18 am

1 Answer from Attorneys
John Corbett Corbett Law Firm LLC

Assuming that the contract takes the customary form, both the primary debtor and the cosigner remain liable on the debt until it has been fully paid. Both are liable to satisfy any deficiency after the car has been sold by the finance company.

See http://info.corbettlaw.net/cosign.htm

See also: http://info.corbettlaw.net/lawguru.htm

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Answered on 2/14/17, 4:51 pm


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