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Originally Posted by JupZChris
the contract that we signed says that the co signer has to be able to make the payment in event that we can not or they will take the colateral we put down
the colateral will be gone now with everything that happend and the co signer doesnt havea penny now
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So make sure you make the payment and they cannot take the car. Unless you are already late on payments?
When you co-sign on a loan it is a contract between the lender, the inital borrower and the co signer. If the inital borrower cannot pay the debt then the co signer is called upon. Not the other way around.
