I cosigned for a car loan .it is secured since the car itself is a collateral?

Answers:1   |   LastUpdateAt:2012-10-09 02:39:02  

Question
LaNissa
Asked at 2012-09-28 08:43:03
i co signed a car loan . after being away for a year I found out that the person i co signed by never paid for I can car.what do.can i returned the car to creditors?
Answer1JoseyAnswered at 2012-10-09 02:37:23
The lending company really has no recourse against you other than the stain on your credit report . They technically can not make you pay for the car . But yes, if I were you I would give the company a loan of call and tell them where the car was . Everything , if you can not make payments on a car that surrender. It is not the same as having to repo'ed . When repo'ed attention you have to pay the balance on the car after it was sold at auction . If you return it , is a fact.
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