I Am The Primary On A Loan For My Sister And She Is Not Wanting To Pay The Loan...they Are Coming After Me For The Car And Are Saying I Will Go To Jail For This Is This True?
I want to know what legally i can do?
I want to know what legally i can do?
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Unfortunately, you're obligated to pay. You will not goto jail for this, they are threatening you. You are bound under contract to re-pay the loan if she doesn't, you don't have a recourse but to pay. Sorry.
answered 11 months ago
Sorry, but you are completely obligated for the car but you can take her to court to pay you back for the loan, i had the same situation, i put a loan on my car to help my mother pay for her rent and she didn't pay (i had no idea she wasn't paying) they took my car and i had no chance to keep it because i didn't know the situation till it was toooo late.
answered 11 months ago
They want to repo the car so they can get some of their money back. Part of the loan agreement says (in most cases) that you will advise the loan company of where to locate the vehicle.
They appear to be using the go to jail term as a scare tactic so you take over paying as you agreed to do when signing the loan agreement. With you in jail though, they have no way to get their money back or find the car so it is doubtful they will press charges to send you to jail.
Yes, they can indeed press charges that could land you in jail. It is their right but most loaners stopped doing that as they understand that there is no recourse for them to recover anything once they have gone down that path.
answered 11 months ago
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