A few years ago I co-signed on a lease for a friend.?

Question

He already had one car, so the signing took place later. Since then, the car that I co-signed on has never gone into arears, and no payments have been missed. He however opted to discontinue his lease with the old car about 6 months ago. The lease company is now saying that they are going to re-possess the new car, and that I will be on the hook for the outstanding amount owed on the old one. Can they do this? I have NO link to the old car whatsoever.

Answer 1

You do need to talk to an attorney.  They are two separate issues and as long as you did not guarantee the first lease you are good.

Answer 2

You need to talk to a lawyer to get competent legal advise. However you have learned a valuable lesson, NEVER put your valuable credit rating on the line for someone else.