Legal Question in Civil Litigation in Texas

Co-signer of an auto loan

I co-signed a car for someone who is leaving the country and does not want to return the car, how can I end my part of hte contract?


Asked on 8/09/06, 11:33 am

1 Answer from Attorneys
James Grissom Law Office of James P. Grissom

Re: Co-signer of an auto loan

By paying off the loan or taking possession of the car. Even if you take possession of the care and surrender it to the creditor, you will be responsible for any deficiency amount on the loan agreement. That amount is not just the remaining paymentsm but also any collection costs, attorneys fees, costs of sale, etc.

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Answered on 8/09/06, 11:48 am


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