If I co-purchased a car with my sister who defaulted on the loan and the car was repossessed, am I liable?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
If I co-purchased a car with my sister who defaulted on the loan and the car was repossessed, am I liable?
I do not have a license and never drove it but was served with a summons for over $10,000. When I say co-purchased I mean she talked me into buying it with her, not as a co-signer, with the promise to teach me to drive. Before you ask I was 38 at the time (long story). Is it easier to file bankruptcy?
Asked on June 8, 2012 under Bankruptcy Law, Arizona
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
It is difficult to undertsand here just what you think you signed and are responsible for. But if you are being sued then you co-signed some loan and were a co-borrower. As for what is the best option for you you need to speak with some one in your area on the matter. Your entire situation needs to be taken in to account. Good luck.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.