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i cosigned on a car note for my daughter she has since moved to Kentucky to chase her dead beat boyfriend.I was contacted by Ford Motor Credit saying the payment is now past due two months,can i go take posesion since I'm on the note,it has already hit my credit report.I'm willing to make the payment to keep it from ruining my credit,but not willing to benifet dead beat. Response: Yes, you can go and get the car. You would not go to jail for doing so. As part owner of the car, you have equal right of possession for the car. Just make sure that when you go to repossess the car that you avoid any confrontation with your daughter or her boyfriend.
do i have to wait for more than two payments to be past due to take repossesion of the car?
do i have to wait for more than two payments to be past due to take repossesion of the car? Response: No, you do not. You can take possession now if she is not making payments.