Can I get out of a contract that I cosigned?

Is there anyway this can be done? I cosigned for my fianc茅鈥檚 car and he has not been able to keep up with payments. He is behind all the time and I am afraid it will get repossessed! Is there anyway out or I'm I screwed? I can't afford his payments. I thought I could trust him. =(

OMG - I am in the same situation. Sadly, once a contract is signed, the agreement is made. We have to pay if these guys decide not to be responsible. If you do end up paying, you have a right to the vehicle. Run that by him and see if he will start making payments. Otherwise, you have a right to take the vehicle, sell it and pay off the note with the profits.

Also, check out the website I listed below - there is good advice there:

"You may have to pay up to the full amount of the debt if the borrower does not pay. You may also have to pay late fees or collection costs, which increase this amount.

The creditor can collect this debt from you without first trying to collect from the borrower. The creditor can use the same collection methods against you that can be used against the borrower, such as suing you, garnishing your wages, etc. If this debt is ever in default, that fact may become a part of your credit record.

This notice is not the contract that makes you liable for the debt."

Life lesson learned. I'll never do this again! There's too much stress and life's just too short for that.

Good luck!

Tags

　　Worker Compensation Law 　　Wills Law 　　Veterans Law 　　Trusts Law 　　Traffic Law 　　Tort Law 　　Telecommunications 　　Tax and Taxation Law 　　Tech Law 　　Sport Law

Related information

Did you know this about the Ameriquest settlement???

The court may have iven them a certain amount of time to pay this settlement, and that may include all the way to the end of december. there is not much you can do.

...

Why does Bush have such a problem with his people testifying under oath?

Bush's argument is that allowing executive officials to testify before Congress weakens the executive branch, by eliminating its independence. What Bush doesn't seem to realize is that no...

My daughter was caught shoplifting from a grocery store?

they can not in an official manner notify anyone else since there is no legal record or proof of what they would be saying. un-officially people talk and people in the same line of business or in ...

Duke University President: Should He Resign for Mishandling the Duke "Rape" Case?

Indeed! The LaCrosse coach should be rehired, Mike Nifong should be disbarred & tried, convicted & thrown in jail. The accuser is nothing less than a typical low class whore that is trying ...

I heard a report that thousands of the new $1.00 coins did not get the final strike . Any information?

homer simpson was working there that day

...

Why is everyone SO quick to blame the POST OFFICE?

Based on my experience, most of the people that blame the post office for problems pay their bills late anyway and use the post office as a scapegoat only because it is this huge entity that can b...

Getting my money back, is this possible?

If you remember the employee you gave it to, return to the store when he's on duty and finish the deal with him, or at least be ready to tell the manager who it was (what he looked like, what ...

What to do when I paid and recieved the wrong item from a seller on half.com ebay?

I would contact your creditor and have them refund your money and see if you can have the seller pay for you for the shpping and handeling that you ahve to pay for you sending the book back to him!...