Legal Question in Credit and Debt Law in Utah

Co-signers rights

I co-signed for a auto loan a few years back. The car was repossesed and the loan was turned into a swift-cash loan. The ''buyer'' has made very few payments and now the bank's lawyers has summoned the both of us. What are my rights as the co-signer when the buyer gave me many vebal agreements that the bank could garnish his wages, but quits any time the bank finds him and moves every three or four months to avoid the loan. He also works ''under the table'' to avoid being tracked by his S.S. number. I have made every effort to keep the bank informed of his whereabouts and employment. Help!


Asked on 8/25/05, 6:23 pm

1 Answer from Attorneys
Alvin Lundgren Alvin R. Lundgren, L.C.

Re: Co-signers rights

I am sorry to inform you that as the guarantor you are obligated to pay the oustanding amount - regardless of the promises of the other party. You may want to give the attorney for the bank the name of his employer, so his payroll can be garnished.

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Answered on 8/26/05, 11:38 am


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