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    Lorie74's Avatar
    Lorie74 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Jul 19, 2013, 06:43 PM
    I owe Kabbage about $38,000
    I owe Kabagge about $38,000 for a business loan.
    My Sales have slowed down Quite a bit , and I have not been able to make the minimum monthly payments.
    My account is about 3 months late now. My question is can Kabbage seize a car I co signed for a relative that still has a loan balance?
    If anyone has any experience regarding Kabbage I would really appreciate your feedback.
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #2

    Jul 20, 2013, 05:09 AM
    If this was a business loan, they may not be able to go after personal assets. Depends on whether you guaranteed the loan personally. Also what the structure of your business is.

    If you just co-signed the loan, then you have no ownership interest in the car and its not part of your assets.

    Also, depending on the loan documents, they may have to file suit and obtain a judgment before they can attach any assets.
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