please help...co-signing issues

[Anonymous]

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@leah5570 wrote:

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@Anonymous wrote:

I had someone co-sign on a car for me in early 08. The lady took the car from me before I even had a chance to make the first payment and said she was putting it into someone else's name. I didn't have a liscense at the time so I honestly have no idea how I got the car in the first place. Anyways I am now attempting to repair my credit and bam this is on my credit as a involentary repossesion....Is there anything at all I can do about this? I had no idea it was even on my credit until tonight!!

Also if something is charged off/closed account can I still offer them a PFD?? (this is in referane to a different thing)

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When you say, the lady took the car and said she was putting it in someone else's name, do you mean your grandma-in-law, or the finance lady?

If it was the finance lady, then your portion of the account should have been closed (possibly a paid by dealer status or something). If it was grandma-in-law, then I think you would have a good case to demand all papers the finance company holds as to who is actually on the loan. If it was taken from you, not the car, but the paperwork relating to the car, then you need to validate the fact you even should be reported. Skip the car aspect of it. Look for what the paperwork shows from the date you originally signed for it, the date the car was removed from your possession, and the dates leading to the supposed repo. Possibly someone forgot to remove your name from the loan, while adding another persons name on it to your grandma in laws name. Possibly three people on the loan, and your's isn't suppose to be.

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It was the g-ma. Yes she took the title and everything relating to the car. There was nothing signed when she took the car from me she just said she was taking it and having her niece take over payments. And if I didn't bring it to her she was calling the police. I didn't know she couldnt take it or anything about it at the time and just wasnt up to fighting with her over it as about a month later I was put into the hospital for a month straight (pregnancy) and didn't need the stress of everything. 

[leah5570]

Oks. So grandma assured you, essentially as you were legally responsible for paying for it, that some other person can benefit from the use of the car, at the expense of your credit liability. I've been in a position close like that...not fun. I'd recommend to you to try a goodwill letter.

Also, if you were still on the hook per the finance company, why didn't they contact you as well regarding late payments? Trying to some extent to get their money? Basically they were talking only to the grandma, not the niece who was just using the car, and skipped over you, who was also responsible...only in the sense of having your name on the loan.

I'd just gw them and see what can be done. Just say when you signed the loan and then the bigger (credit score) co-signer took the car away, you thought she assumed the loan in its entirely, and refinanced without you on it. Tell them you never received anything, and would be happy to make things up with them, provided they update your credit report to reflect so, in a positive way.

[Anonymous]

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@leah5570 wrote:

Oks. So grandma assured you, essentially as you were legally responsible for paying for it, that some other person can benefit from the use of the car, at the expense of your credit liability. I've been in a position close like that...not fun. I'd recommend to you to try a goodwill letter.

Also, if you were still on the hook per the finance company, why didn't they contact you as well regarding late payments? Trying to some extent to get their money? Basically they were talking only to the grandma, not the niece who was just using the car, and skipped over you, who was also responsible...only in the sense of having your name on the loan.

I'd just gw them and see what can be done. Just say when you signed the loan and then the bigger (credit score) co-signer took the car away, you thought she assumed the loan in its entirely, and refinanced without you on it. Tell them you never received anything, and would be happy to make things up with them, provided they update your credit report to reflect so, in a positive way.

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  Nope I never heard a word about it from anyone after I gave her the car..

So would I need to offer to pay the balance?