Quote:
Originally Posted by BonzoHansen
Man, I love all the tough-talking answers - the guy only co-signed the loan in the 1st place.
Exactly.
Lesson #2: Never co-sign a loan for anyone. Nothing wrecks a friendship or family like money.
Not sure I would have done exactly what he did, but given he is on the legal hook for the loan if you default, I kind of understand. If it were me, I'd make the payment, take the keys & car. If another payment were missed, a for sale sign would be up, or doing what he did to make it easier to sell.
As co-signer I know he has certain legal rights. Not sure about the details.
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He has the car, has the keys, had them for a while now(since August). He's had the car for the last 2 months while I made payments, told me I wasn't getting the car back until unemployment went through or I found a job. I bit my tongue and kept my cool...I've NEVER missed a payment until now, I understand his fear but I think he's moving WAY too fast.
BTW, he was somehow able to insurance it and register it in NJ so I think he's on the title also. However, even if that's the case I STILL need to sign off on the title to make him sole owner which I will NOT do as of right now. It's really going to suck if he did something outside of the rules because I have 3 job interviews tomorrow and if I land one of them he can **** himself.
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Last edited by Frosty; 10-13-2008 at 09:38 PM.
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