Quote:
Originally posted by yuvalus
When you get a loan with a co-signer the loan is actually the co-signer's. You make the payments but if you default etc, it is the co-signer who is affected more htan you. If he does there is a good chance that you will loose the car as the loan will be recalled and the car resold to reclaim repay the debt. Your best bet is to try to get his name off it NOW. Perhaps the bank will be nice since you have been making payments.
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the thing is we are not going default - he is. he is going bankrupt. we have no problem making the payments at all we just didnt have the colitoral to put down