Asked by Alexandria  |  Submitted April 18, 2018

I cosigned a car loan for someone and that car was later repossessed, there is a judgment on my credit report for the full price of the car. What can I do?

How can they receive a judgment for the full purchase price of the car when they also took possession of the car? This has ruined my credit.

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  Answers  |  1

April 19, 2018

Here is some helpful information about cosigning an auto loan, unfortunately since you've already cosigned the debt is as much yours as it is the friend who took out the loan.

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