QUESTION
What happens if I cosigned a motorcycle and the owner totaled the bike and sold it for nowhere near the value and stopped making the payments
Asked on Jan 05th, 2013 on Collections - New York
More details to this question:
Can I press charges? Does this fall under some type of fraud for not reporting the crash and also selling the motorcyle without me being aware? Could I sue this person for the amount of the loan if I have to pay the loan off?
1 ANSWER
1 Award
Last option is the only one. Suing for the money you paid or are being asked to pay as co-signer. Being a co-signed is not being on title, so nothing else the guy did is illegal.
Answered on Jan 11th, 2013 at 10:25 AM