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 Irwin Law Your Own Question
Irwin Law
Irwin Law, Attorney
Category: Business Law
Satisfied Customers: 7306
Experience:  30+ yrs. representing small business, real estate, probate
Type Your Business Law Question Here...
Irwin Law is online now
A new question is answered every 9 seconds

I signed secretary to have enough credit to buy a car. She

Customer Question

I signed for my secretary to have enough credit to buy a car. She is now fired and that payment will default. What is your advice to me?
Submitted: 1 year ago.
Category: Business Law
Expert:  Irwin Law replied 1 year ago.

I am not sure what you mean by "signed for her to have enough credit". Did you actually Co-sign the loan documents, or just verify that she had employment?

Customer: replied 1 year ago.
I co-signed the loan. I thought she would be working for me a long time. But she embezzled my office. The title is in her name. Do I sue her? or what is the best way?
Expert:  Irwin Law replied 1 year ago.

Good morning. I'm sorry to hear that you are in such a predicament. It's the old story , where you try to help someone and it backfires. If the car is repossessed you may or may not be given an opportunity to pay off the loan and recover the car. If you and she are sued by the finance company after a default, You will have the right to file a cross claim against her for both damages and possession, i.e. title to the automobile so that you can recover it from the finance company. There is some complicated state law involved as to whether or not you are a guarantor or a principal borrower which I will not go into here. You can always super directly for the embezzlement of funds, which is a separate and distinct matter from the car payments. Such a suit would give you the opportunity to try to negotiate a settlement of the car issue before the bank or finance company moves in. I wish you good luck in getting the matter resolved favorably, and happy Thanksgiving!

Related Business Law Questions