My question involves a consumer law issue in the State of: Texas
I wasn't sure where to ask this question in terms of forums, but this place seemed the most helpful and like I'd find an answer to my question. I have searched and can't find an answer otherwise, so that's why I'm here.
I share a co-signer/owner with my sister in law (my father in law is the co-signer for both vehicles). My sister in law is 2 payments behind on her truck and is going to be repossessed. Her truck is in the repair shop at the moment because she recently was involved in an accident, but her truck is going to be seized afterwards.
My issue is; my father in law was told by the loan officer, though he said it was unlikely, that my car could be repossessed as well as any car they have. I've never been late on my payments and I'm completely up to date and have insurance on my car and they're the same with their vehicles as well. Is it actually possible for my car to be repossessed as well even though my father in law is the co-signer and I'm the primary? If so, what are (if any) the steps I should be taking to help protect my car from being repossessed?
Thank you for taking the time to read my question.
I wasn't sure where to ask this question in terms of forums, but this place seemed the most helpful and like I'd find an answer to my question. I have searched and can't find an answer otherwise, so that's why I'm here.
I share a co-signer/owner with my sister in law (my father in law is the co-signer for both vehicles). My sister in law is 2 payments behind on her truck and is going to be repossessed. Her truck is in the repair shop at the moment because she recently was involved in an accident, but her truck is going to be seized afterwards.
My issue is; my father in law was told by the loan officer, though he said it was unlikely, that my car could be repossessed as well as any car they have. I've never been late on my payments and I'm completely up to date and have insurance on my car and they're the same with their vehicles as well. Is it actually possible for my car to be repossessed as well even though my father in law is the co-signer and I'm the primary? If so, what are (if any) the steps I should be taking to help protect my car from being repossessed?
Thank you for taking the time to read my question.
Repossession: Can My Car Be Repossessed Through a Shared Co-Signer
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