lundi 26 février 2018

Ownership Rights: Took Loan for Some Guy's Car, Who Now Isn't Making Payments. Can Anything Be Done

My question involves personal property located in the State of: Louisiana.

Thanks for your time...

My brother lived in Louisiana and decided to help this dirt bag with buying a car. My brother took a loan out in his name for a brand new car (he is main borrower, the guy cosigned it). Both of their names are on the car title. The guy is out of LA now and still has the car. My brother is also out of LA. The title was never transferred to the new state (OH). The guy has missed some payments and has been paying hardly anything (maybe a couple grand worth of interest and a little principle). My brother, to keep from his credit getting docked, has paid around $1700 (mostly interest minimum payments) whenever the loan agency contacts him.

I told my brother to pray the car gets totaled, and/or stop making payments so either the car gets repo'd or the guy gets off his butt and starts paying for his car.

Does my brother have a legal leg to stand on in order to remove himself from this situation or go and take the car? If the car is out of the picture and there is still money owed, is there any way for my brother to be out of the debt without having to pay the difference himself?

Thanks!


Ownership Rights: Took Loan for Some Guy's Car, Who Now Isn't Making Payments. Can Anything Be Done

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