Legal Question in Credit and Debt Law in Texas

Hello. I purchased a vehicle with someone in 2005 where they were the buyer and I was the co-signer. The vehicle was initially purchased for my use, and after about a year, the buyer decided that he wanted the vehicle for his use. After having possession for the vehicle since 2005, the buyer failed to make payments on the car, and it was repossessed in 2010. I understand that we are both responsible for the vehicle financially. I want the debt to be taken care of, but I want the other person to pay for half of the balance. I want to know how do I go about suing the person for half the debt amount of the vehicle.


Asked on 8/26/10, 11:38 pm

1 Answer from Attorneys
Mark Dunn Mark D. Dunn

Generally, you would pay the full balance and then sue the other buyer for indemnity. You would end up with a judgment against him which you would then try to collect. It is difficult to collect a judgment in Texas.

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Answered on 9/02/10, 3:38 pm


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