Legal Question in Credit and Debt Law in Texas

Cosigner rights

I co-signed a car loan with a friend and now she is not able to pay her car payments. I have taken over the payments. What are my rights when it comes to the ownership of the car? Is there anything I can do to get out of the loan?


Asked on 11/29/06, 10:49 am

1 Answer from Attorneys
Peter Bradie Bradie, Bradie & Bradie

Re: Cosigner rights

You have no rights as to the ownership of the car. You can ask that she pay you what she can while you are covering the rest of the payment. Unless the lender will release you, you are stuck with making sure the note is paid. That's why they asked that you co-sign the note because of your friend's credit risk.

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Answered on 11/29/06, 12:01 pm


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