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    sherice1977's Avatar
    sherice1977 Posts: 53, Reputation: -3
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    #1

    Mar 8, 2008, 10:43 AM
    Is the cosigner responsible for the bike?
    A used to be friend of ours co-signed for my boyfriend a brand new crotch rocket and he just decided that he wanted the bike back even though we were giving him money for the bike .well now it got reposessed is the co-signer going to be responsible for the bike or is my boyfriend going to be responsible for the bike?
    N0help4u's Avatar
    N0help4u Posts: 19,823, Reputation: 2035
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    #2

    Mar 8, 2008, 10:45 AM
    Your boyfriend is responsible for it but if they can not get payments out of him then they go after the co-signer.
    excon's Avatar
    excon Posts: 21,482, Reputation: 2992
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    #3

    Mar 8, 2008, 11:23 AM
    Hello s:

    I don't know who screwed who between the two of them. THAT is really a matter between the two of them. The BANK, however, will sue both of 'em, and take the money from whoever has it in the bank.

    excon
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #4

    Mar 8, 2008, 12:57 PM
    Yes, not sure why you were paying the co-signer for anything, the bank is one that gets paid, and unless they are on the title, the co-signer can not demad and take the bike form the orignial signer.

    Now after it is repo'ed the bank can come after either or both, who ever they think has the money to pay them.
    N0help4u's Avatar
    N0help4u Posts: 19,823, Reputation: 2035
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    #5

    Mar 8, 2008, 01:06 PM
    I hope you didn't mean you were paying them figuring they were MAKING the payment
    If so you really got screwed over!
    sherice1977's Avatar
    sherice1977 Posts: 53, Reputation: -3
    Junior Member
    		  
    #6

    Mar 8, 2008, 05:03 PM
    The cosigner is the one with the money and the perfect credit and he is stoopid and he is on the title.lol
    N0help4u's Avatar
    N0help4u Posts: 19,823, Reputation: 2035
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    #7

    Mar 8, 2008, 05:06 PM
    Sounds like he was trying to play both ends of something but I am not sure what since the bike was re-po-ed.
    sherice1977's Avatar
    sherice1977 Posts: 53, Reputation: -3
    Junior Member
    		  
    #8

    Mar 8, 2008, 05:09 PM
    He took the bike from my boyfriend when I stopped having an affair with him and I think he may have screwed himself
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #9

    Mar 8, 2008, 05:22 PM
    OK, if he is also on the title, he is actually a co-buyer not just a co-signer

    But yes, sounds like he did not think this one out correctly
    N0help4u's Avatar
    N0help4u Posts: 19,823, Reputation: 2035
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    #10

    Mar 8, 2008, 05:23 PM
    A whole new can of worms
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