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 LegalKnowledge Your Own Question
LegalKnowledge, Attorney
Category: Legal
Satisfied Customers: 28384
Experience:  10+ years handling Legal, Real Estate, Criminal Law, Family Law, Traffic matters.
Type Your Legal Question Here...
LegalKnowledge is online now
A new question is answered every 9 seconds

My son bought a car last year at a buy here pay here car

Customer Question

My son bought a car last year at a buy here pay here car lot. He didn't have any credit established so the car lot asked me if i had any credit ( i took him ) i said yes and the lady explained that they could use my credit instead of my sons too get him the is my problem or question. I was a stay at home mom will no income at the time and was never told i was a cosigner on the loan .my son lost his job and was unable to make the payments and now they are sueing us both for the loan... I guess how would I be a legal a co singer on the loan being unemployed at the time he signed the papers... I guess im confused i didnt think any bank would let someone cosign a loan being unemployed
Submitted: 1 year ago.
Category: Legal
Expert:  LegalKnowledge replied 1 year ago.

Good morning. I certainly understand the situation and your concern. It is possible that the finance company which was used, gave the loan, based upon the credit score. It is at their discretion to finance the purchase of the vehicle and if you did sign as a co-signor and he has failed to pay, they could turn around and sue you both, to collect on what is owed. I understand the argument you are making regarding lack of income BUT it is their decision to fund the loan and often times, these finance company take on higher risk loans, hoping the borrower(s) will pay and they will not have any issues. Now, if your argument is that you did not know you were a co-signor, you need to go back and review the documents which you signed, to see what they say, as there is a presumption if you signed them, you read them and understood them and agreed to be liable.

Please let me know if you have any follow up questions or need any clarification on something which I stated above. Also, remember to rate my service at the top of this page, before exiting the site, so I can receive credit for my help. I hope you found it to be Excellent! Only rate my answer when you are 100% satisfied. If you feel the need to click either of the two lower ratings to the left, please stop and reply to me. I want to make sure your experience with the site was as pleasurable as possible and that you are satisfied with the help I provided.

Expert:  LegalKnowledge replied 1 year ago.

I just wanted to follow up and see if you had any other questions or needed me to clarify something. I am here to help, so please let me know. Thanks!