Legal Question in Credit and Debt Law in Texas

Co-signer rights

I am a co-signer for a loan. The person that I co-signed is no longer in my life. I received a notice that the pmts have not been made. I realize that it is now my responisibility if he does not pay. What I need to know is what are my rights for the propery? If I have to make the late pmts, do I have the right to take the property? I have contacted him and told him to make the late pmts, but if he does not and I have to, how do I go about getting the property?? It was for a vehicle loan.


Asked on 8/29/04, 2:23 pm

1 Answer from Attorneys
Peter Bradie Bradie, Bradie & Bradie

Re: Co-signer rights

I am sorry to tell you that you have no rights to the property. Your sole course of action would be a lawsuit against him for the money you have to pay out.

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Answered on 8/30/04, 10:12 am


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