Legal Question in Credit and Debt Law in Utah

Iam 70 years old I co signed for my grandson on a car three yeras ago his paid on time, now his engine he wass told he needs a new one three thousand dollars , his credit is bad, I live on socail secrity I cant help. He cant keep making payments on a car he can no longer drive, our question is how hard will they come after me the co- signer once it gets to the point of repo? Should we let the loan place know look his paid on time forthree years you wont help add this to the end of his loan, he cant get a loan anywere else he has no choice but to stop making the payments, ugh help us.


Asked on 3/06/11, 9:55 pm

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

You will have to pay off the amount he does not pay - all of the rest that is owed. However, you may be judgment proof - meaning that if you do not pay and are sued, the creditor may not be able to garnish your SS. Call Utah Legal Services for assistance.

There are other options. Grandson should get a second opinion on what needs to be done to get the car in a drive-able condition. Or instead of a new engine get one from a junk yard.

Maybe Grandson could get a second job?

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Answered on 3/07/11, 6:15 pm


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