co-signer who can`t make the payments
September 15th, 2008 by Questions
I co-signed for a car a little over two years ago. the person whom i cosigned for is no longer making any payment. He is very difficult to find and even if i were to sue him it would be hard to collect as he gets paid in cash (when he is employed). i am a stay at home mom with very little income (i do part time child care). my husband and i bought a condo in march. there is $11000 left to pay on the car (which was totaled and therefore can`t be repossessed). We have a joint line of credit which is pretty much at the limit. I have a credit card which is completely paid off. Since I am now stuck with the payments and can`t afford to make them, Am I eligible for consumer proposal? would this have any affect on our condo? are there any other options?
Posted from: Ontario