QUESTION
What's the process for a co-signer (me) of an auto loan to file a civil suit to make the borrower pay the loan he is default on?
Asked on Jan 29th, 2018 on Civil Litigation - Georgia
More details to this question:
I co-signed a car for my husband's nephew in 2014. I found out recently (1/18/18 and 1/19/18 that my nephew gave the car to someone to make payments (I did not sign a contract for this), the car was left abandoned at a QT back in September and have been adding up costs. There is $2170 (and still counting $15 / day) owed to the towing company; $1541.09 past due payments to Credit Acceptance; and $8599.51 left on the car. Credit Acceptance will settle for $4,000. The nephew called Credit Acceptance 3x since September to make arrangements but made no payments. I have no money to assist with any payments and want to know how I can make my husband's nephew pay for his negligence?
1 ANSWER
You would sue your nephew for breach of contract. You may also have standing to sue the person to whom your husband's nephew transferred the car as the third party beneficiary of his/her contract with your husband's nephew. However, if he/they has no money to pay, you are still liable to the lender.
Answered on Jan 29th, 2018 at 12:18 PM