Legal Question in Consumer Law in New York

Contract/cosigning
I helped my brother in law co sign for a car. his friend insured the car. all three of our names are on this contract for the car. my brother inlaw made late payments on the car and finally the car was repossessed. prior to buying the car my brother my brother and i drew up papers and signed them stating that i was doing him a favor by using my name to help him. also that i would not be responsible for anything. he told me that he would make payments on time and that he could handle the bill. we have all this in writing. there is a balance of 3500 for the car will i be responsible for this? the dealer knows that the car was for my brother in law. i need some legal advice. we never knew the car would be taken. the car was sold very shortly after reposession and my brother in law was not allowed to get his things out of the car. the dealer claims the car was sold.

can i sue my brother in law?

Asked on 6/05/01, 1:34 pm

Garry Hanlon

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0 attorneys agreed

Re: Contract/cosigning

Probably, but you will only be successful

if the car company comes after you and

successfully collects a deficiency judgment

(namely, the car was sold for less than

what was owed) Make sure your brotherinlaw

pays this amount and there is no need for

litigation

Answered on 7/09/01, 3:27 am

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