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    castaj0958's Avatar
    castaj0958 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Feb 21, 2007, 05:36 AM
    Car loan default
    I have to default on my car loan. I also have a co signer, the car is not running the engine has blown... I advised the insurance company of same... what are th elaws regarding this... is still repaying the loan my responsibility
    excon's Avatar
    excon Posts: 21,482, Reputation: 2992
    Uber Member
    		  
    #2

    Feb 21, 2007, 05:40 AM
    Hello castaj:

    Yes. Yours AND the cosigners. Why would you inform the insurance company? They don't care. It's the BANK that cares!!

    That's not a nice thing to do to your co signer.

    excon
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