Cosigned 2 Vehicles-They Won't Pay-I Can't

FoolishParent · #1 03-10-2009, 10:09 AM

My question involves an auto loan or repossession in the State of: Colorado, as the cosigner.

Vehicles purchased in Texas.

I co-signed for two vehicles for my son and daughter-in-law. They have now flaked out and won't pay for either. I took one vehicle from them-owe $9000, vehicle worth about $4500.

They have the other. Owe $22000, worth about $15000.

I have been making the payments, but am now on disability, so cannot continue.

Both lenders just want me to continue making the payments. Do I have any options?

cyjeff · #2 03-10-2009, 10:43 AM

Your answers are limited.

The best course of action involves suing your son and daughter in law.