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Posted: 2/20/2006 7:08:49 PM EDT
I co-signed on a car loan for my cousin about a year and a half ago. I didn't want to do it but my wife was screaming and bitching so much that I finally gave in. She thought God wanted us to do it! Any way to make a long story short my cousin has missed a couple car payments and I had to pay them to keep the bank off of my ass and to keep it off of my credit report. What are my legal options to get posession of the vehicle? At this point I would like to grab the fucking car and sell the god damn thing. I spent the last weekend in Omak looking for my cousin to try to straighten this shit out. She wasn't home and she no longer has a telephone. I don't even know if she's working but I do know she is a god damned flake!
What are my rights legally speaking to just go up there and take the damn car?
Link Posted: 2/20/2006 7:18:21 PM EDT
I don't think you can just go and get it. Is your name also on the title?

Either way I would think you'd have to go through the steps to repo it from your cousin
Link Posted: 2/20/2006 7:18:27 PM EDT
Lesson learned? NEVER co-sign a loan for ANYONE. I won't do it, not even for my kids.....

Since you are a co-signer on the loan, I think that means you are also listed as a registered owner on the registration? You should have legal rights to the car, and can sell it to absolve the debt. Otherwise, force the cousin to refinance the car without you being a co-signer.

Link Posted: 2/20/2006 7:20:02 PM EDT

Originally Posted By RedDawg6:

What are my rights legally speaking to just go up there and take the damn car?



It is about to cost you even more..

Time to lawyer up, or make a offer to buy it outright. But do not just go take it.
Link Posted: 2/20/2006 7:54:17 PM EDT

Originally Posted By R-32:

Originally Posted By RedDawg6:

What are my rights legally speaking to just go up there and take the damn car?



It is about to cost you even more..

Time to lawyer up, or make a offer to buy it outright. But do not just go take it.



+1 on the lawyer up. As a co-signer you typically have little option on taking possession of the property even while you can get stuffed for the whole debt. The important part is whose name(s) are on the title as registered owner. If your on the alone go get it. If she's the sole registered owned then your screwed. Spend the $50 or whatever to talk to a lawyer. It will be cheaper in the long run.
Link Posted: 2/20/2006 8:15:18 PM EDT

Originally Posted By RedDawg6:What are my rights legally speaking to just go up there and take the damn car?


I'd go do this, but only if your name is also on the registration. Be prepared for a shitstorm from your cousin, who, unless you get them to remove their name from the title and registration, can beat the windows out and slash the tires on the thing if they find it. If you get the car, I'd have secure storage ready for it, and I'd stop parking my stuff outside.

Good luck. People can be very vindictive when you take their toys away from them.
Link Posted: 2/20/2006 8:42:37 PM EDT
[Last Edit: 2/20/2006 8:43:46 PM EDT by BIGDUKESIX]

Originally Posted By RedDawg6:
I co-signed on a car loan for my cousin about a year and a half ago. I didn't want to do it but my wife was screaming and bitching so much that I finally gave in. She thought God wanted us to do it! Any way to make a long story short my cousin has missed a couple car payments and I had to pay them to keep the bank off of my ass and to keep it off of my credit report. What are my legal options to get posession of the vehicle? At this point I would like to grab the fucking car and sell the god damn thing. I spent the last weekend in Omak looking for my cousin to try to straighten this shit out. She wasn't home and she no longer has a telephone. I don't even know if she's working but I do know she is a god damned flake!
What are my rights legally speaking to just go up there and take the damn car?




Your in tough place buddy. If your name is on the title I would do a snatch and grab. If not You are going to have to get a lawyer and go to court and it will take time and money. Unless this car is expensive You could spend more getting it back than the car is worth/Attorney fees and Ill bet she will stop payments all toghther the second that she gets wind of what You are doing. If It were Me I would settle it out of court
Link Posted: 2/20/2006 8:43:51 PM EDT
Have the wife pay for it. It was her idea.
Link Posted: 2/20/2006 9:12:24 PM EDT
If the car is being financed, the bank's name will be on the title until the loan is paid off.

Trey

Link Posted: 2/20/2006 9:32:54 PM EDT
[Last Edit: 2/20/2006 9:33:37 PM EDT by Scollins]

Originally Posted By twodeucetrey:
If the car is being financed, the bank's name will be on the title until the loan is paid off.

Trey




True, but if his name is on the registration as a "registered owner", then he should be able to take possession of it without worrying about being in possession of "stolen property." There are two parts on the registration: Registered owner and Legal owner. The legal owner is the bank...

This whole situation sounds FUBAR. You said you went looking for her but couldn't find her? Not good, not good at all. Maybe YOU can report the car as stolen, if you are a registered owner, and don't know its current location....
Link Posted: 2/20/2006 9:49:17 PM EDT

Originally Posted By RedDawg6:
What are my rights legally speaking to just go up there and take the damn car?



Do you have a copy of the loan docs? If so, read carefully and determine if as a co-applicant you are just a guarantor of the loan should the primary default or if you are a co-owner of the property. Sadly, I doubt the latter, but until you have read the fine print you never know. Also, check with a different financial institution, perhaps a credit union that you have been a longtime member of, and see about a refi. If the original lender is sensing trouble with this particular loan, they might be motiviated to get it off their books. You might be able to get the refi in your name only and then you can sell the vehicle. Sure, the original lender could just come after you, but that costs time and money plus there is a chance you will fight it or whatever. If another institution offers to buy the paper, they can turn a liability into an asset in 15 minutes.

Just a thought. HTH.

Trey


Link Posted: 2/20/2006 9:51:39 PM EDT

Originally Posted By Scollins:
Lesson learned? NEVER co-sign a loan for ANYONE. I won't do it, not even for my kids.....

Since you are a co-signer on the loan, I think that means you are also listed as a registered owner on the registration? You should have legal rights to the car, and can sell it to absolve the debt. Otherwise, force the cousin to refinance the car without you being a co-signer.




Believe me, I did not do this willingly! After several days of heated arguments I relented and took off for the weekend just to get my wife out of my hair. We still didn't talk to each other for a god damned week after that. This whole thing is bullshit!
Link Posted: 2/20/2006 11:35:31 PM EDT

Originally Posted By RedDawg6:

Originally Posted By Scollins:
Lesson learned? NEVER co-sign a loan for ANYONE. I won't do it, not even for my kids.....

Since you are a co-signer on the loan, I think that means you are also listed as a registered owner on the registration? You should have legal rights to the car, and can sell it to absolve the debt. Otherwise, force the cousin to refinance the car without you being a co-signer.




Believe me, I did not do this willingly! After several days of heated arguments I relented and took off for the weekend just to get my wife out of my hair. We still didn't talk to each other for a god damned week after that. This whole thing is bullshit!

What is her opinion now?
Link Posted: 2/21/2006 1:01:13 AM EDT
My guess is that your name is not on the title. Like what was mentioned before....... Never, I mean NEVER co-sign a loan of any type. It maybe your very best friend in the entire world needing the help but if that person falls behind or defaults on a loan you will be made responsible as Red has already found out.

Sorry your wife is being difficult in this matter.
Link Posted: 2/21/2006 6:30:31 AM EDT

Originally Posted By RS_Coyote:
Have the wife pay for it. It was her idea.



Link Posted: 2/21/2006 7:38:38 AM EDT
[Last Edit: 2/21/2006 7:38:59 AM EDT by MrsScrun]

Originally Posted By Gibby:
My guess is that your name is not on the title.




My mom co-signed for my car. Both of our names were listed as Registered Owner (mine first, her's second), and the bank as the Legal Owner. When I paid it off and got the title, both of our names are on there. I then had to have my mom sign over the title to me to get her name off both the title & registration.
Link Posted: 2/21/2006 12:08:41 PM EDT
Your 6 has got to be gettin pretty red, dawg. Last month you were "spanked" at work with the CAM, now you are gettin "screwed" by your cousin. There's a pattern starting here -- it's all self inflected, buddy.

Just realize, that you are in a hole, and stop diggin. OK, I've tossed enough your way...

I think you are doing the right thing by trying to find out what's happening with your cousin. Maybe she needs your help more than ever. Can you call your aunt or uncle, does she have any brothers or sisters, or close friends you can call?, It sounds like you know where she lives in Omak. If she lives with someone, can they help you get in contact with her?

She's the key to gathering facts on why she hasn't been able to make the payments on time. Even if you go talk to a lawyer, he/she is going to be helped by these facts too. If you can understand what is going on from her side, and get the information from her in a nice way, this might not cost you any more money. Afterall, she can just stop making payments, and go on a road trip for a few years, if you get her good and pissed off. Do this right, and you may still end up being able to talk with your cousin and wife after all of this, and your blood pressure will be down below 200/140.

Hopefully she's o.k., and the car is still o.k., and she can get back to making the payments so your day in the barrel goes away for a long long time.
Link Posted: 2/21/2006 12:19:17 PM EDT
Link Posted: 2/21/2006 12:30:40 PM EDT
[Last Edit: 2/21/2006 12:32:06 PM EDT by R-32]

Originally Posted By Stickman:

Originally Posted By Scollins:
Maybe YOU can report the car as stolen, if you are a registered owner, and don't know its current location....




It doesn't work that way.



Call me at work and try that...



This is a Civil matter...

get an attorney, or let it go...

That is what this all really comes down to.
Link Posted: 2/22/2006 3:47:18 PM EDT
[Last Edit: 2/22/2006 4:05:05 PM EDT by lethalppl]
i know a fact you can take the car but here is the trickie part. Im hoping you have the keys if not you got to find tow truck and its location and have them tow it(wait until he goes to the mall or place he going to be while and the car not in sight)(dont tell the tow truck driver what you are doing just say u lost the keys or something-pay for him to get there quick).

Repoing a car will be next to impossible because they wont be able to do for a private person(only the bank can actually authorize a repo-since neither you or cousin actually own it bank does until you pay for it).

Once you get ahold of the car your cousin can come take it back at any point so i recommend you hiding it. Also you wont be able to sell it unless he signs off on it even to cover the debt legally-message me for details around this will not give it over internet.

Lawyer up is a joke too. I got advice from the lawyer he basicly said going to cost you more then it worth.

question before i go anyfarther...
do you have a set of the keys?
do you have the location of the car?
talk to the bank-make understand you will not pay for this car and they have to repo it unless they help you get possision of it. Beleive me they want to get paid so this is your only way to work it.
This is the only way you actually can authorize a repo man to come take it. Ok here next part repoing isnt cheap-expect around 500dollors min.

edit to add another question:
what year of car is this? cause if newer one the dealer can order your keys in if you got a certain number thats on the title and show proof that you own it.

I have done this the hard way and beleive me its not easy if you want the details message me. I send alot time and money gettting a car back.
Link Posted: 2/22/2006 4:07:20 PM EDT
Hopefully you will at least get some of this....
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