joint car loan
i have a car loan that is in default. i am a co signer with my ex common law partner. he kept the car after our seperation. the car was repoed from him .the collection agency wants money from me. am i responsible for a portion of this debt? and what happens if i just refuse to pay at all?
Posted from: Prince Edward Island
If you signed on the car loan you are responsible to make sure the loan is paid in full. So if your ex does not pay the loan the collection agency has the right to come after you for payment in full. If you fail to pay the loan they can sue you, garnishee wages, cease certain assets, cease bank accounts etc.