What are my rights if I co-signed a car loan and it's in collections?

Answer by  patti (29325)

If you are the co-signer, you have the same rights an any other debtor. You are responsible for the debt and collection efforts will be directed at until the loan is paid or at least brought current.

Answer by  Kurt (4579)

You do not have many rights. You are fully responsible for the loan because you cosigned for it. If the person responsible for making the payments is not paying, then it becomes your responsibility. In the future be VERY careful of cosigning for a loan.

Answer by  flamiss22 (5081)

If the other party is not making the payments the collection company will come after you because you are just as liable. They are not going to allow you to remove your name regardless of the circumstances. If it charges off your credit will take a major hit on your credit report.

Answer by  ShawnL19 (310)

Contact the lender! This may very by location, but you should be able to take possession of the car, and sue the primary signer for the previous balance.