[Tess]

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

I foolishly cosigned for an auto loan for a relative who I just found out has been consistently late making payment (when paid at all). It's so bad that the balance is actually increasing. She has also failed to provide insurance info to the lien holder.

She will not respond to my messages and I would like to sell the car, give the proceeds to the lien holder and pay off the balance. Both names are on the title, but I am not on the registration.

Can I repossess and sell it myself (I understand that the car would sell for more than if the lien holder sold it at auction.) I seriously doubt that I can refinance, since this particular transaction has put me in a very bad spot credit-wise.

What would be the process? I need to put a stop to this asap.

[Mr. Knowitall]

If you're an equal owner on the title, my approach would probably be to take possession of the car (if possible) then sue her in small claims court (assuming the amount owed is within the jurisdictional limit) for the remaining balance, and trying to convince her to allow you to sell the car to pay off the loan. If you do take possession, let the police know first (non-emergency number, not 911) and provide any documentation they request so that they don't treat it as a car theft.