If my ex has not made payments on a car loan that I co-signed for, what would be the best course of action?
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If my ex has not made payments on a car loan that I co-signed for, what would be the best course of action?
Asked on February 13, 2012 under Bankruptcy Law, Ohio
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
if your "ex" has not made payments on a car loan that you co-signed for, you need to call and write him or her of the need to make all delinquent payments for the car as soon as possible. The failure to do so will most likely result in the car being repossessed and a possible auction resulting in a deficiency lawsuit against you and the "ex".
If there is a judgment against you, your personal assets can be levied upon to pay off the judgment.
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