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In 1999 I signed a car loan for my daughter then 18. 2yrs later I added her onto the title. I just found out she no longer is making payments and wants to hold me liable for the car she dumped on the street to be stolen.I am overseas, and have been since 99. Am I protected anywhere under any laws? Is she liable for payments at this point?
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Want to answer more questions in the Relationships category?
Maybe give some free advice about: Families?
If the loan is in your name..the only person that is liable is you. Being on the title just makes it easier for her to sell it. Where is the car now? If it has been repo..it is on your credit report. I would chekc with TRW to see the status of this. You might ahve to go to samll claims court (undera certain amount) to get bakc the money she owes you.
Never ever..give you girl anything this valuable..she cannot be trusted to take care of it.
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o0o0o interesting, but i wouldnt kno.
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Man I wish I could help but cant! I would tell ur daughter to make her own payments and u dont worrie bout it u let her deal with it!
Kayla
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If the car loan is signed under your name then it is your responsibility. That is the point of having a parent sign a young-adult child's loan agreement. They do so to ensure that someone is held responsible. You can speak with the bank that you signed the loan with, or speak to a lawyer to be sure but I am almost certain that it is still your responsibility and you are both (but more so you) are responsible for making payments. Call the bank and find out for sure.
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