Hello
Maybe someone can help me? I am a cobarrower for my brothers car.They took the car back because he couldn't pay for it.They sold the car and told him he still owes 5,000.He has a good job,but he pays child support and couldn't afford the car any more.What I would like to know is.Can they come after me for the money Or will they try and get it from him seeing how he is working?
Thank you for you help!
tiny114

That's what being a co-borrower means. You are equally responsible for the loan. Yes they can and probably will, come after you if they think they can get money from you.

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Originally Posted by tiny114

Hello
Maybe someone can help me? I am a cobarrower for my brothers car.They took the car back because he couldn't pay for it.They sold the car and told him he still owes 5,000.He has a good job,but he pays child support and couldn't afford the car any more.What i would like to know is.Can they come after me for the money Or will they try and get it from him seeing how he is working?
Thank you for you help!
tiny114

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I thought they would go after my brother first seeing how he is working.

They may they may go after you both in the same or separate actions.

Quote:

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Originally Posted by tiny114

I thought they would go after my brother first seeing how he is working.

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If they do come after you first, you of course could in turn, go after him.

Before they start legal action, you might want to make sure your brother makes and lives with a re-payment plan that they are willing to accept (in writing). And then make sure he follows it to the T.

If and when they sue the both of you, and get a judgment, I suggest that you be pro-active and make sure they know where he is working, etc.