When I was younger I co-signed on a motorcycle loan for my exboyfriend. He stopped making payments so I took the bike and made one or two payments but I can no longer afford it. We sold the bike and was able to get about 1/4 of the loan paid to the company. Now lawyers are calling telling us we are going to be sued over this. My stepmom says we can't be sued because we live in TX. Is that true? What exactly does that means anyway and what happens if I were to get sued?

I guess what I should have said is lawyers are saying they are going to sue us over the loan balance, not for selling the bike.