More details to this question:
On mon oct 28 my vehicle was repossed in the state of nevada. On wed oct 30 I recieved a letter that I had ten days to pay off balance or turn in my keys. On mon nov 4th I turned in my keys. On wed nov 6th I recieved a call from a collection agency stating that my balance was 1400.00 which was much less then the 4800 owed. They told me 3300 had been collected last wed. Is itblegal for them to take money on my vehicle during the ten day period. Also the collector told me my wife was listed by the lien holder as a co signer. The problem is they would not let her cosign cause she had no job or income. So she was not on the loan or bill of sale. Can they just add her on if they wanted to? Please let me know. Thank you
1 ANSWER
R. Christopher Reade
It is legal for the lender to attempt to collect the deficiency on the loan after repossession (even voluntary surrender). The lender cannot unilaterally add your wife as an obligor on the loan without her knowledge and assent.
Answered on Nov 08th, 2013 at 5:57 PM