What to do if a co-signer of a car loanwas not properly notified of repossession and sale?

Get Legal Help Today

 Secured with SHA-256 Encryption

What to do if a co-signer of a car loanwas not properly notified of repossession and sale?

My daughter listed her car on her bankruptcy. The leinholder took the vehicle and sold the car before notifying me. I was sent a bill for the $8000; the difference on the loan balance and the sale price. The loan company admits that I was not properly notified and has agreed to settle for $4000. Should I pay this or try to get it reduced or dismissed with attorney help?

Asked on December 2, 2010 under Bankruptcy Law, California

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

I am not sure that you could get the matter dismissed entirely unless you take the stance that you would have taken over the car payments and made the car you own.  But I would certainly try and have the amount reduced farther, especially if they have admitted to improper notification.  I would take the stand however that you owe nothing based upon their breach of the contract as to notice and maybe a bunch of other provisions in the loan agreement.  Do you have the agreement?  Then I would take it to someone in you area to review and advise you on what the believe is the likely end result.  Good luck.


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

 Secured with SHA-256 Encryption