Question about co-signing for a car

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Sep 29, 2008 | 08:07 AM

#31

thomas

pew pew pew

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From: teh az

your sister should go get the car and sell it

Sep 29, 2008 | 08:08 AM

#32

ShaolinLueb

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From: Holyoke, MA

or just let the repo man take it, or help them find it if the ex-bf is hiding it.

Sep 29, 2008 | 08:09 AM

#33

SlowRolla

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Joined: Apr 2003

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From: Florida

If I'm not mistaken, since she co-signed, she can repossess the car herself if he is defaulting on the payments. Repo the car, sell it, pay off the difference. Lesson learned.

Sep 29, 2008 | 08:09 AM

#34

white_n_slow

it's my D in a B

Joined: Aug 2001

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From: Your Mom's House

Yeah, but if it gets repo'd thats still a mark on her credit score.

:edit: to Lueb's post

Sep 29, 2008 | 08:14 AM

#35

hitman619

SDSU Basketball

Joined: Jul 2005

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From: Diego

Quote:

Originally Posted by white_n_slow

Sure, but it happens all the time. All I was getting at is that cosigning =/= ownership.

Understand
What i was getting at was taking over payments or selling the car
either way she has a 60 days late on her credit.
If it turns into a charge off shes screwed!

Sep 29, 2008 | 08:17 AM

#36

Cosmo M3

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From: NoVA

dude...instant-fail in the making

NEVER EVER CO-SIGN for ANYONE

Sep 29, 2008 | 08:18 AM

#37

Skelly_GSR

RB does men

Joined: Jan 2003

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From: Pittsburgh

pics?

Sep 29, 2008 | 08:20 AM

#38

Cosmo M3

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From: NoVA

Quote:

Originally Posted by Skelly_GSR

pics?

dawt

be like Skelly and Me and roll in cashiers checks

Sep 29, 2008 | 08:25 AM

#39

ShaolinLueb

Senior Member

Joined: Jun 2002

Posts: 14,544

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From: Holyoke, MA

Quote:

Originally Posted by white_n_slow

Yeah, but if it gets repo'd thats still a mark on her credit score.

:edit: to Lueb's post

you have to cut your loses while you can.

seems she is already f'd. but its only what 2 months since his paymeny was due?

like i said, cut your loses while you can. 2 months isnt going to hurt your credit bad.