I co-signed for my daughter's auto loan and she has been late 5 times last year on December 18 I got a letter from the bank she was 2000.00 in late fees which included a non payment in October to be due December 21st and a payment due December 25 the of 825.08 all of which I paid in all in the last year I paid 3700.00 to keep this account current I want to take possession of the vehicle
If you are a co-owner, you have the same ownership rights as she does for the car. If not, you would have to sue her, get a judgment, and then execute on her interest in the car.
Speak with a collection attorney for more details about how you should proceed.
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You need to be very careful as you only have the rights that are spelled out in the financial transaction you have with your daughter. Absent something in writing that gives you the right to repossess the car when certain conditions arise, it sounds like you are just a co-signor/creditor of your daughters with no vested rights tied to the car such as a co-owner or a secured creditor. If you repossess the car without clear rights to do so, you risk being sued for conversion of her personal property. The safer way to do this would be to file a legal action against her asserting that she is not fulfilling her obligation to pay for the car and that she has caused you to pay her car debt wrongfully. You could try asking that the car be turned over to you but I am not sure that the court will award that. But it's worth trying especially if you can allege and prove that your daughter does not have the financial means to pay for the car going forward so this problem is going to keep happening.
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