I am a cosigner on a total loss 2017 BMW financed through BMW USA. They have no record of insurance and didn't bother to keep up on that which is the only reason I signed in the first place. Now I have 40000 in collections on a loan I thought was secure. Any advice is very much appreciated. Thank you.
As a cosignor you very likely are on the hook, but you might want to review with a lawyer all the details of the actions taken by the creditor to see if a defense can be found.
This comment is general in nature and is not intended as legal advice. It does not create an attorney client relationship and obviously is not confidential. You should contact an attorney in your area who can review with you all of the relevant facts and give you specific legal advice.
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