Legal Question in Credit and Debt Law in North Carolina
Co-signing a loan
If we co-sign a loan where a car is held as collaterol and the person gets in a car accident, can we be held liable? The car is NOT in our name nor is the insurance.
Asked on 3/22/00, 11:03 pm
1 Answer from Attorneys
Ken Koury
Kenneth P. Koury, Esq.
Re: Co-signing a loan
you would not be responsible for any accident, just payment of the loan.
Answered on 3/28/00, 1:11 am