cosigning for quad. possible to sue if no payments by owner?

[z400guy]

ok, heres the deal.
a girl co-signed for her boyfriend. they broke up. he stopped making payments. is there anything she can do to get out of this? i'd hate to see her credit go down the drain. i did see where its possible to sue him, but not sure the details. anyone thats had this situation and can help would be great.


thanks

[honduh440]

negative. she is fully responsible if the guy doesnt pay thats the purpose of co-signing obviously

[wilkin250r]

Indeed, she is responsible. That's how it works. What part of "cosigning" did she not understand?

[bwamos]

Yup, yup.
She is required to make any payments for the ATV.

However she CAN sue (if she can show that she has taken over the payments) for posession of the ATV. That way she can sell the ATV and recoup some of the losses.

[JJs450r]

Originally posted by bwamos
Yup, yup.
She is required to make any payments for the ATV.

However she CAN sue (if she can show that she has taken over the payments) for posession of the ATV. That way she can sell the ATV and recoup some of the losses.


sounds about right

[54warrior]

Hmmm, I'll bet we see her on one of the gazillion court shows that are out now like Judge Judy, Judge Joe Brown, Peoples Court (that lady's somewhat hot for an old bird, would like to see her w/o the robe), etc.

[z400guy]

ok, what if she can prove this guy is making a decent income and can afford the payments. He's just being an *** and not paying.

[400exrider707]

Originally posted by z400guy
ok, what if she can prove this guy is making a decent income and can afford the payments. He's just being an *** and not paying.

Does not matter.... If it was just him and not a co-signer, then his credit would drop and the ATV would get reposessed. She cosigned so she legally accepted responsibility if the first party fell through.

[Scro]

If he stopped payments, wouldn't this show up on his credit line as well as hers if both their names are on the note? Seems to me that if he is just doing this in spite of her, it's going to hurt him just as much.

[mineralgrey01gt]

the co-signer is always responsible for what they co-sign for if the other person does not make payments

[bwamos]

Originally posted by Scro
If he stopped payments, wouldn't this show up on his credit line as well as hers if both their names are on the note? Seems to me that if he is just doing this in spite of her, it's going to hurt him just as much.

Yes, both will have a "failure to make payment" on their credit. He sounds irresponsible enough that he probably has crappy credit anyway, thus the need for the original co-sign.

If she co-signed for the loan, her name should also be on the title. I would check with the bank. She may be able to just take, sell it, and pay off the loan.

She should call the mortgage company to see who's names are on the title, and work out an agreable resolution. A couple grand is not worth bad credit. It will cost you a LOT more than that in the long run.

[z400guy]

so if she started making the payments for say 6 months. Could she sue and atleast get the quad? i guess my question is, how long would she have to make payments before she could sue.

[z400guy]

also, this isnt a couple thousand dollar quad. its a 2007 ltr450

[Aceman]

Maybe it's time for a lawyer? Giving a lawyer a couple hundred bucks to call this "ex-boyfriend" might get the gears turning. He sounds like a real winner.

[z400guy]

yeah, he's a real tool. i'll let her see this thread and let her decide. thanks for all the replies

[hardtrailz400]

You got be careful if she sues for possesion of the quad. If he is enuf of a dick not pay for it then, she may get a beat-up or parts missing quad, if he finds out she is taking it. The easiest thing to do is get a couple guys and just go get and help her sell it so she can be done with the douchebag.

Good Luck

[z400guy]

yeah, well he's already has been in trouble with the law for stealing quads and dirtbikes. Hopefully this will help her stance in court if she goes.