Legal Question in Civil Litigation in Virginia
Repossession
Help!!! I made the mistake of co signing for a car for my child like irresponsible mother. Her credit was so awful they listed me as the owner and her as the co signer. I reluctantly agreed. Now because of her irresponsiblity the car has been repossessed and it is on my credit report. HOWEVER the car lender (who has actually been quite understanding) has stated that even though the repo had been listed on my report for this month as long as the payment is made current the repo can be removed from my report for next month. Otherwise it will stand. The problem is now my mother is not returning my calls and there is no way I can pay all those charges, as I have a car payment of my own. What can I do? Can I take her to small claims court to force her to pay what is owed so that the repo can be removed? I already tried to explain to the lender that I signed on behalf of my mother but since I am listed as the owner -- no dice. Please help. I desperately want this removed as I am still reltively young and want to purchase propery in the future as well as a car but this repo listed on my report will already drag my already bad credit even further into the gorund. Any advice would be much appreciated. Thanks.
1 Answer from Attorneys
Re: Repossession
As a practical legal matter, you cannot take mom to small claims court until you actually incur a debt as a result of your cosigning for mom's car loan. Apparently, aside from the repo reference on your credit report, you haven't actually incurred any actual debt from this co-signing misadventure.
Under the Fair Credit Reporting Act(FCRA)and related statutes, you, of course, have the right to post a written explanation of up to 250 words for inclusion in your credit report as to how this repo event came about.
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