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 CalAttorney2 Your Own Question
CalAttorney2
CalAttorney2, Attorney
Category: Legal
Satisfied Customers: 10238
Experience:  Civil litigation attorney for individuals and businesses.
71563194
Type Your Legal Question Here...
CalAttorney2 is online now
A new question is answered every 9 seconds

I co signed car grandaugther, she losted her job

Customer Question

I co signed for a car for my grandaugther, she losted her job so the car was repoed now they coming after me i'm 75 yrs old. What can i do?
Submitted: 1 year ago.
Category: Legal
Expert:  CalAttorney2 replied 1 year ago.
If you have no assets, and your only income is social security or disability payments - you don't need to do anything, you are what we call "Judgment Proof" (your assets are exempt from collections so you can write to the creditor and notify them that you are unable to pay, and that your assets are exempt).If you do have assets and your creditor can pursue you for payment (you are liable as a cosigner for the debt), you can try negotiations with them (if you are uncomfortable approaching them on your own, try contacting your local bar association and ask for referrals to senior legal aid for an attorney).When trying to settle a debt, creditors generally prefer lump sums over payment plans. They are often willing to accept an amount less than the full debt (the trade off is that they get a quick payment and don't have to worry about ongoing collection costs or administration). If you do not have the ability to offer a lump sum for something the creditor will accept (some will accept a small portion, while others want close to the full amount), you can try a payment plan, these are less satisfactory to the creditor (especially if they have a lien on your property already), but if you are willing to offer something with a reasonable chance to get the creditor a large amount of their debt back, you are likely to get them to accept it. Whenever working with a creditor, make sure that you keep your communications in writing (if you speak to someone by phone, promptly send a confirmation letter to summarize your conversation), as this will help to ensure that there is no confusion later on, and you will be able to enforce your settlement against any future collection efforts.
Customer: replied 1 year ago.
(Posted by JustAnswer at customer's request) Hello. I would like to request the following Expert Service(s) from you: Live Phone Call. Let me know if you need more information, or send me the service offer(s) so we can proceed.
Expert:  CalAttorney2 replied 1 year ago.
Dear Customer, I do not provide telephone calls - my hourly rate is far in excess of the small fee charged for this "Q&A" session, and I do not wish to provide the impression that we have an attorney/client relationship through this forum. If you desire a phone call, you can post a second question and post in the initial question that you are looking for "Additional Services" and another expert will provide you with an "offer" giving their fee for this additional service and additional instructions.

Related Legal Questions