Help its killing my credit!!!! Details Inside?

Question

Ok so I cosigned for a friends car and about 5 months ago he moved to florida ( i live in california by the way). he said he would send the cars money every 3rd week of the month . but he just stopped. he wont answer, wont show his face, has other people answer his phone and tell me they dont know where he is which i know is a lie!!! the police told me i could go and claim it but i have no clue where it is please help me i dont have and address or work address so what can i do or how can i find him

no silly answers please its serious

Answer 1

wow that's really just too bad a "friend" turned into such a jerk!  you're so SOL.  unless you don't mind your credit go down the drain, which it doesn't sound like you are, then you're pretty much stuck with the bills until you're able to locate you stupid friend or the car. that's what cosigning is all about.  if that person defaults, then the cosigner is financially responsible.

if i were you, i contact the police department in florida where he lives.  or better yet, hire a private investigator in florida and track him down.  then fly down there and beat the c**p out of him.  take back the car, sell it or return it to the financial institution.

good luck.  next time think twice before you co-sign for anyone.

Answer 2

If you have his previous address, just go to that post office and pay $1 and they will give you a forwarding address. It's part of the "Freedom of information Act" If he did not give one, if you want to give me his number, i'll see what I can do for you.

Answer 3

Yeah you kind of got ripped off.  As a cosigner you are liable to the bank for whatever your friend doesn't pay.  If you can't get a hold of him try having someone else call him on someone else's phone with some kind of incentive to get him to answer like, he won a lottery or something.  Be creative and a bit sketchy if you have to.  You need to talk to him.  Try to work it out and figure out why he isn't paying.  If he is your friend he should at least have the decency to talk to you.  If you have to, tell him you are willing to take the burden off of him and reclaim the car.  It will be much easier to talk to him then to take legal action.  That would be time consuming and would take a bunch of research and/or would involve hiring a lawyer.  If you do manage to reclaim the car you are still kind of ripped off though cause then you have the car.  At least you will be able to sell it though.

Hopefully that helps.  Good luck.

Answer 4

Do you have a copy of the agreement showing you as co-signor? If so, turn it over to a collection agency. They'll find him for a piece of the action.

Answer 5

Lesson learned for the future, huh.

Have you tried going to the bank where the loan is from to remove your name?

Answer 6

You need to call the car financing company and get the BILLING ADDRESS he supplied them for payment.  I am praying that he told the financing company of his Florida address.  

The car financing company should be able to supply that address since they have records on file that you are the co-signer.

Also, you might want to see if the financing company can title the car to you if you sign papers to be 100% responsible for the car.   They just want their money and they know they have a better chance getting it from you than some incognito friend.



Also, look at ROBERT B'S answer in the link below for a similar Yahoo Answer's question.  You have rights once the b*****d is NOT paying for the car.  You need to report the car as stolen since he is expecting the benefit of a car you are responsible for yet he is not paying.  

Present the papers showing his non-payment to the police department as well.  Show them the papers that you are co-signer of this car.

Second, report the car as stolen.  If you are a co-signer, then you should be able to file the car as stolen in both California and FLORIDA.  Granted, you have to wait for him to get pulled over before you catch him, but when the officer runs the plates and that car comes up stolen, he will be in jail (temporarily) and the car will be impounded and the police will notify you.

You should catch the fastest flight to Florida and claim that car and drive it back!

You should have copies of the auto loan agreement that you co-sign as proof to the officers that this car is part yours!