Can I get sued by primary signer on my car if I give him the car because I can’t make the payments?

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Can I get sued by primary signer on my car if I give him the car because I can’t make the payments?

I’ve been making the payments on a car since we got it by myself. Someone hit it about 2 months ago in my parking lot. I made a report and its going to cost $1000 to fix it because I couldn’t find who it the car. Then I hurt myself at work and no longer can make the payments. I want to give the car to the primary. Will I get sued if I don’t fix it and have my name removed from the loan? The payments are up to date.

Asked on June 27, 2012 under Bankruptcy Law, Colorado

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

If you and another person have some agreement between yourselves with respect to the monthly loan payments on the car that you are writing about and you fail to uphold the terms of your agreement with him or her, then potentially the primary signer on the loan for that car can bring a legal action against you for all expenditures he or she makes on your behalf.

I suggest that you have a face to face meeting with the primary signer with respect to the car that you have written about and come to a written and signed understanding as to how you two will proceed with respect to your joint venture with this automobile.


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