Husband of Co-Signer for Repoed Vehicle

**maxx27** · 10-12-2008, 05:17 PM

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

My wife who does not have a job co-signed for a truck for my son. My son was delinquent on payments, and the bank repossessed his truck last week. I am not on the loan or the title. can the bank come after my income since my wife does not have income?

I don't have money to pay off the loan and do anticipate my wife will end up with a deficiency judgment once the bank sells the truck at auction. Will I be liable for any of this debt? lastly, what are my wife's options? FYI, we don't own any real property.

Thank you for your help.

**gigirle** · 10-12-2008, 05:48 PM

If your wife gets a judgement on her and you have a joint back account with her then that is how they will take your money. You wife needs to see if she can make payment arrangements once the truck is sold. Find a way to get the money from your son. Make him take a 3rd job at McDonalds if he has to.

**maxx27** · 10-12-2008, 07:55 PM

Thanks for your quick reply. Obviously, we'll deal with our son and make him pay i.e 3rd job at McD's.

I am looking for legal comments as it relates to my position at this very moment. Are you familiar with California law and if so, can you tell me if it is possible for the spouse (i.e. me) of the co-signer to fall under a deficiency judgment in this particular matter at hand?