A car that I co signed for was involved in an accident 2 years ago where it crashed into a parked car. I was not in the accident someone else was but the car was uninsured. I am now being sued by the insurance company can you assist?
If by co-signed you mean you are an owner, you can be held responsible for up to $5,000 for property damage and up to $30,000 per incident for personal injuries. You can get the money back from the driver if you follow the right legal steps and can collect from them. You need to pay for your own attorney, since you did not have insurance. Be sure to meet the deadline to respond to the court papers, as well as file a cross-complaint.
I agree with Mr. Dorfman but will point out that is possible to co-sign on a loan, and thus be financially responsible for the vehicle, but not be an owner of that vehicle. Laws do vary by state so make sure to discuss this in detail with a local attorney.
answers to questions are for general purposes only and do not establish an attorney-client relationship.
You hire an attorney to defend yourself and cross sue the driver. You pay what you owe or settle for less. Or you file bankruptcy
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