Legal Question in Credit and Debt Law in Pennsylvania

Our son has a high car payment on an auto that is not worth what he owes. My wife co signed the loan. If our son allows the loan co. to repossess the car will he or my wife be liable for anything further.


Asked on 8/16/10, 6:01 am

1 Answer from Attorneys
Greg Artim Morrow & Artim, P.C.

Absolutely. They will repo the car, sell it at auction for a fraction of the price, and then sue for the difference.

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Answered on 8/21/10, 8:13 am


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