Legal Question in Real Estate Law in New York
If you as a co-signor on a vehicle contract agree for your car to be willfully repossessed, will it effect your credit?
Asked on 5/09/13, 11:38 am
2 Answers from Attorneys
Daniel Scott
Daniel U. Scott, Esq.
Yes; both the primary borrower and co-signer would each be liable for the debt so the nonpayment would appear on both persons credit reports.
Answered on 5/09/13, 11:45 am