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If you have been making payments on a car and you are the primary owner can the co-signer take your car and garnish your wages for the remaining balance?
Wiki User
∙ 8y ago
A co-signer is only obligated if you default on your payment(s). I can't think of why or how one could repossess the car otherwise. If however, you default, the co-signer will be obligated to the original creditor. Then the con-signer can sue you for the amount that is owed on the vehicle or the vehicle if they are willing to keep up the payments. They have to follow due process, which means filing a suit, serving summons, the hearing, getting a judgment, acting on the judgment and so on, and so on.
Wiki User
∙ 8y ago
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Can someone garnish a cosigner for a car and garnish the primary also?
In the State of Texas, the answer would be "YES" as both parties signed for the car loan and both are responsible for the balance due. I was the primary signor but the cosigner had the car and was making the payments. Then she stopped making payments after owning the car for 3 years and the car was repossessed.
If you filed for bankruptcy would the cosigner of your auto loan be forced to take over payment?
The answer is that the cosigner would be left responsible for taking over the payments. If the cosigner wants to maintain his or her credit rating (which is probably damaged due to your filing bankruptcy), If the consignor does not want the auto loan people to sue for any remaining balance, then he or she will need to keep making the payments. If the auto loan company sues for any remaining balance and gets a judgment, then the auto loan company will go after the assets of the consignor and or garish their earnings. attempt o seize their assets or garnish their earnings.
Can a cosigner ask the court to garnish the borrower's wages to make the loan payments?
The cosigner can ask but I seriously doubt they will be successful. The cosigner knew the risks when they signed the loan application. The cosigner knew, or should have known, the borower's history of successful loan payoffs were questionable at best. The cosigner assumed the responsibility when they signed on.
What payments may you have to make if your car is repossessed and can they garnish wages?
Payments are the entire balance due after the lender sells the car and YES, in most states they can garnishee your wages.
Do they garnish your check after a reposession?
They will only if the remaining balance after the repossession and auction goes to litigation and the judge orders the garnishment of wages.
How long after you have a voluntary repo can the lender hold you responsible for the remaining balance in South Carolina?
== == I know they can't garnish your wages but not sure about liens.
Can a cosigner ask a lender to garnish the wages of the primary borrower?
A lender can't garnish wages; that has to be done by court order. That can be accomplished, but usually only after the lender has made the cosigner responsible for the debt and failed to collect. After all, that's the responsibility of being the cosigner -- to provide payment should the primary borrower fail to pay.
Can a collection agency garnish VA disability payments?
No
What can you do if the lender repossess your car and they get half of the loan and you cant pay the balance?
The lender will come after you for the remaining balance after the car is auctioned.You can either declare banckruptcy or work out a payment plan...or thelender can seek a judgment to garnish your wages.
In Alabama how can a seller recover a court ordered balance if the vehicle is totaled and the buyer has no money and is not willing to make payments?
IF they have JUDGEMENT, THEY CAN GARNISH YOUR WAGES OR ATTACH OTHER PERSONAL PROPERTY.
What happens if you let a car go back?
They will sell it at auction for pennies on the dollar and then come after you for the remaining balance. They will often sue you if you have a garnishable job and then garnish your wages if you refuse to pay.
Can the bankruptcy garnish a home owners insurance check?
Yeah, they can garnish any remaining funds involving the home.
