[a1vergara@yahoo.com]

My question involves an auto loan or repossession in the State of: NJ

My father in law co-signed an auto w/ my step son. The car was repoed and sold at auction. Father in law has been contacted by collction agency about paying the remaining amount. I understand that at this point nothing will repair his credit score. He's 81 and does not want to harressed any longer ( poor man just paid his grandson's student loan for same reason). My question is : " Is he legal responsible to pay? Can they lien his estate (Florida)?

He asked me to help him by calling the collectin agency for him and seeing if they will settled for less. I like to understand what his legal obilgation is before proceeding. Thanks.

[Betty3]

Since he co-signed for the loan, he is just as responsible for the remaining amt. due as the step-son. That's the problem with being a co-signer.