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cosigner

Posted on : 05-15-2008 | By : Legal Information | In : Bankruptcy & Debt, Child Custody, Family Law, Other Legal Topics

2

My Mother-in-law co-signed for me 1 1/2 years ago for new car. Now she is mad she doesn’t get to see her son enough (which is actually because she is crazy) and wants to take her name off my co-sign, or take the car away, and I’ve never been late on a payment. What are my legal rights?

Answers (2)

If the bills continue to come to you and you pay them, I don’t see what you have to worry about. I would be preemptive and contact the finance company and see if you can get her name off the loan. The finance company may not let you do that. So if you ever default on the loan, you mother in law will also be on the hook. She can threaten all she wants to, but the finance company doesn’t want those payments to stop.

I co-signed for a car for my ex husband 5 months before were married. He has not paid the note in 4 months and the bank is looking to repo the car. Neither me nor the bank have been able to contact him. We live in illinois what can i do?

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