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Richard, Attorney
Category: Legal
Satisfied Customers: 53705
Experience:  Attorney with 29 years of experience.
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I am being sued by a credit card company (HSBC Visa). I co-signed

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I am being sued by a credit card company (HSBC Visa). I co-signed on a car loan for my stepson. When he lost his job, I ended up with the payments. My wife now uses the car. We were unable to keep up with our credit card payments, and all have gone to collections. I am on disability & so is my wife. From an auto accident. We can make some payments now after reviewing what expenses we could cut & things we could do without., we weren't a couple of years ago. I have 30 days to respond to the court. What are my options? Thanks for your help. I live in Hemet,California
Submitted: 5 years ago.
Category: Legal
Expert:  Richard replied 5 years ago.

Good evening. Your disability income and any retirement income or retirement assets you have are safe from creditors. So, if you have no other assets for them to get, you are really judgment proof and can tell them you can't pay. They will be able to repossess the car, however.



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The information given here is not legal advice. As all states have different intricacies in their laws, the information given is general only. This communication does not establish an attorney-client relationship with you. I hope this answer has been helpful to you.

Customer: replied 5 years ago.
I have 2 car payments. They are years away from being paid off. there is very little equity in them, if any. would they be able to take them? Your help would be appreciated?
Expert:  Richard replied 5 years ago.
No...they cannot take any car but the car that was co-signed for and that your wife uses. The others are safe. No worries.
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