What do we do if my girlfriend is the second signer on a vehicle loan, the ex is the primary and he is trying to do a voluntary repossession? 5 Answers as of April 15, 2014

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SmithMarco, P.C.
SmithMarco, P.C. | Larry P. Smith
If she was given notice of the ex's failure to pay, she can make payments to save her credit report, and then proceed on claims against the ex for violating the dissolution agreement. Under Illinois law, before a creditor can place something on a co-signers credit report, the creditor has to give a warning and an opportunity to cure.
Answer Applies to: Illinois
Replied: 4/15/2014
Law Office of Andrew Oostdyk
Law Office of Andrew Oostdyk | Andrew Oostdyk
Girlfriend is likely liable, along with the ex, for any deficiency remaining on the vehicle. She should contact the financing company to see what options she has.
Answer Applies to: Texas
Replied: 4/14/2014
The Law Office of Darren Aronow, PC
The Law Office of Darren Aronow, PC | Darren Aronow
Then she would be liable for the difference of what is owed after they auction the vehicle.
Answer Applies to: New York
Replied: 4/14/2014
Musilli Brennan Associates PLLC
Musilli Brennan Associates PLLC | John F Brennan
She is liable to the bank for any shortfall on the contract which is independent of the divorce. Her remedy is the divorce judgment and the divorce court's contempt powers.
Answer Applies to: Michigan
Replied: 4/14/2014
Edelman, Combs, Latturner & Goodwin, LLC | Daniel A. Edelman
If the transaction was in Illinois, the lender is required to give the cosigner written notice of the opportunity to take over payments. If they do not do so, they forfeit the right to collect from the cosigner.
Answer Applies to: Illinois
Replied: 4/14/2014
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