Legal Question in Credit and Debt Law in Washington

cosigning on a car loan

What happens to the cosigner on a car loan when the other person defaults on that car loan? Does it make a difference if there is a restraining order on the person that is defaulting on the loan, to stay away from the cosigner?


Asked on 11/20/07, 5:15 pm

1 Answer from Attorneys
Elizabeth Powell ELizabeth Powell PS Inc

Re: cosigning on a car loan

The lender can come after the co signer for the balance due on the loan, plus attorney fees, costs and interest if the principal debtor defaults on their obligation.

The restraining order between the principal debtor and the co signer is not relevant to the issue of whether a default in payment has occurred.

Hope this helps. Elizabeth Powell

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Answered on 11/20/07, 5:30 pm


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