Legal Question in Civil Litigation in New York

co signed loan

I know, I know, I shouldn't have done it! I was the primary signer on a loan for a ATV for my stepson 2 years ago. He suddenly has lost contact with us, and has not paid since may 1st. My name is on the title, which I have. He has the ATV,. Do I go to police and file stolen property report and have them find the ATV? Do I take him to court? Basically I'm sure I will end up paying for this loan, the balance is $5000.00. Can the court garnish his wages so it gets paid? thank you! Mary


Asked on 8/20/07, 8:35 pm

1 Answer from Attorneys
Locksley Wade Law Office of Locksley O. Wade

Re: co signed loan

As the titled owner you can check with the Dept. of Motor Veh. for the current registration address and then get the repo-man! Do not report this vehicle as stolen because to do so is a crime (filing a false police report) that may put you behind bars. Once it is recovered, put it in a safe place and sell it and use the proceeds to pay-off or pay-down the loan.

Read more
Answered on 8/21/07, 5:06 pm


Related Questions & Answers

More General Civil Litigation questions and answers in New York