How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Terry L. Your Own Question
Terry L.
Terry L., Attorney
Category: Bankruptcy Law
Satisfied Customers: 2822
Experience:  Better Business Bureau. 18yrs bankruptcy experience. Chicago Bar Assoc. American Bankruptcy Institute member.
15345323
Type Your Bankruptcy Law Question Here...
Terry L. is online now
A new question is answered every 9 seconds

MY SON PURCHASED A CAR 3 YEARS AGO. I THOUGHT I WAS CO-SIGNER

Resolved Question:

MY SON PURCHASED A CAR 3 YEARS AGO. I THOUGHT I WAS CO-SIGNER BUT FOUND OUT LATER AFTER HE FILED BANKRUPCTY THAT I WAS THE MAJOR SIGNER. ALL THE OTHER PAPERWORK, REGISTRATION, TITLE ETC ARE IN HIS NAME. HE HAS NOT PAID THE BANK FOR OVER A YEAR AND I WANT TO KNOW WHAT LEGAL RIGHT I HAVE TO TAKE THE JEEP AWAY AND HOW
Submitted: 7 years ago.
Category: Bankruptcy Law
Expert:  Terry L. replied 7 years ago.
If the title is not in your name, then you do not have a lot of options. A cosigner is responsible for the debt, if the 2nd party does not pay. If the debt was discharged in the bankruptcy, or if you are the only signer on the loan, then you have the right to surrender or have the vehicle repossessed. (you'll be on the hook for the remainging balance though after auction.) You can sue him in small claims court if you have a written agreement between the two of you as to who was to pay this debt, although this may have been discharged in the bankruptcy too. Absent that, you do not have a lot of options. Since you do not have the title in your name, or a valid lien against the title, it would be considered theft if you took the vehicle.
Terry L. and 2 other Bankruptcy Law Specialists are ready to help you