More details to this question:
My wife was cosigner on an ex-boyfriends motorcycle. After he stopped making payments, we eventually paid the settlement amount of $3,800. What are her options for either:
1. Taking possession of the motorcycle, or;
2. Recouping our money
1 ANSWER
In whose name is title held? If neither you nor your wife are in title, then you cannot take possession unless you have a security interest. If there was a contract for the repayment of money between either of you and the biker, then you can sue for the money paid and not reimbursed. Otherwise, she (and you) have learned the hard way not to co-sign a loan!
Answered on Sep 04th, 2012 at 6:15 PM
I do NOT know you. I am NOT your lawyer. For more information, please feel free to visit my website or schedule an appointment. nathansonlaw.com