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I took out an auto loan over 10 years ago and my brother was the co signer. Can his bank account be frozen?
Chicago, IL
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Posted 7 months ago in Debt / Lending Agreements
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with me as the primary account holderthere is no record of this on my credit. why is ti that he as the secondary signer is suffering all of the consequences?There are threats of litigation and his banking accounts has been frozen. the original loan was for 3000.00 now the debt is 9000.00.what can we do to get these people off our backs and free up his accounts.
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Answers (1)
Erik Glen Swanson
This attorney is licensed in Illinois.
Posted 7 months ago.
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A co-signer has the same rights and liabilities as the signer. The only way to stop it is to satisfy the debt, one way or the other.
Disclaimer: This answer is provided as a public service and as a general response to a general question, it is not meant, and should not be relied upon as specific legal advice, nor does it create an attorney-client relationship. |
