How can I get my son to pay his car loan or how can I get the money or the car back from him?
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How can I get my son to pay his car loan or how can I get the money or the car back from him?
I am a co-signer on a car loan with my son. He moved to KS several years ago and has not made a payment since he left. I cannot let the loan go into repossession as I have a job with the government and require a security clearance and it would go on my credit report and I could lose my clearance and my job. What are my options? I live in VA.
Asked on September 27, 2011 under Bankruptcy Law, Virginia
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
Oh boy. You are certainly in a predicament here. I do not know how you can get your son to live up to his obligations other than to sue him in court. You may need to do some fancy foot work here and fast talking to pay off the debt in total and then sue him for the money that you have paid out as a co-signor on the loan. And really I would take it to the mat with this, placing a pine on property and garnishing his wages. It really sounds harsh but what other choice do you have? You can not have this cost you YOUR job and he needs to grow up. Good luck.
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