Vanilla Face

I find it pretty hard to believe that she didnt know that he wasnt making the payments for 2 years. Banks dont wait that long for shit like that.

rydnlow1120

Glad I wasn't the only one thinking this.

Why the hell would you co-sign on a vehicle like that? Maybe a $5k daily driver or something, but a sub $30k sports car? SRSLY?

MAD_DOHC

+1


+1

I don't believe the 2yrs part at all. 2 months maybe, but no financial institution is going to go that long without some sort of action.

DickButt

I find that hard to believe as well...

Also i don't feel the least bit sorry for her, she deserves whatever happens. By signing that paper, she promised the bank to pay for that car if her "friend" defaulted, and i doubt she could have known the guy too well.

Btw, you don't happen to know which auction the porsche is going to do you??

notsogoodfeline

Unfortunately, and since I deal with this shit all the time on collections accounts, she is JUST as responsible for these payments as he is. Try and dispute all she wants but she signed a legal contract with a bank to make payments. The best thing to do is just keep trying to work through it. Ask for hardship to pay the remaining amount back. She might be able to take him to court for small claims or something but again she made herself responsible and I don't think that will get her anywhere b/c she signed the contract as a cosigner. And banks usually don't wait that long to notify the signers of default. Maybe she can ask about that? My bank repo's bikes worth about 5k within 90 days(if not sooner!). we call immediately when they are late... both people. If we are given incorrect information we'll skip trace and track people down

Fathonda

sadly she's going to end up being responsible especially in the State of Virginia [ if thats where this happened ]. if your name is on it , you bought it. this state does things like make you go to court just for the judge to say " well you owe it , now pay it" thus adding more nonsense to your credit. I say f-ck it , walk away from it and don't pay. credit will clear in 6-9 years anyway. shitty to say but if she does not want to pay thats her only real option. however in the future she won't be able to make big credit moves like buying a house etc. lifes a bitch , hell i'm hesitant to put my name on my own checks.

Tali

look heres how it works, my brother kinda went thru the same thing, except he was wrongfully locked up and couldnt make payments, when he got out he found out his Acura TL was repossed and he still owed like 26k on it and payments were bout 1800$ overdue, if they were to sell it he would probably end up paying 13k wit interest, instead he explained the situation payed off the 1800$ overdue amount and they gave him the car back, he kept the car, but i suggest when she does get the car back get it fixed and sell it, whatever amount is due im sure is way less then the amount she'll owe if the auction off the car

rare_ram

She might have to file bankruptcy.

vmspionage

^ yup, that's probably her only way out although she'll still have to make some sort of payments decided by the judge. Either way the bank's gonna get their money.

Speed-O

bankrupcy = 10yrs.
reposession = 7 years


hmmm....