I'm so sorry to hear about your troubles! This is much more than a teen not being responsible for one car payment. She's not being responsible with her life choices either! My heart goes out to you!
One way to nip part of the problem in the bud is to take the car away from her! This way she doesn't have it available to drive without a valid license and she can't make it readily disposable for her criminal friend's use. You co-signed on the loan for her in good faith that she would be responsible for this priveledge. She has proven herself to be irresponsible with this priveledge in five ways already!:
1) Has not maintained good condition of the vehicle by allowing it to be vandalized
2) Has allowed others who are not authorized or insured to drive the vehicle do so
3) Has knowingly allowed the vehicle to be used in criminal activity (was she involved in this activity as well? Do you know?)
4) Has missed one payment of her obligation
5) Is driving without a valid license
She's well beyond '3 Strikes You're Out'!
Take the car from her and remove her as an authorized driver under your insurance. I assume you are paying that too?
As far as the obligation, you'll still be responsible for it. Was it a new vehicle when you purchased it or a used vehicle? You should attempt to sell it and recoup what you can from it. Sadly, with the damage to the vehicle, you most likely will not be able to recoup the full cost of the loan.
If she works, she can take the bus! Additionally, she needs some serious counseling to see what she is doing to her life before she ends up in jail or life endangered by these awful folks she calls her friends. You should also have her tested for drugs. Criminal activity and drugs usually go hand in hand. Is she currently residing with you or does she live out on her own? If she is still under your roof, then your rules apply! Set curfews for her and make it known that the criminal characters are not welcome in your home.
God Bless you with the strength you need to get through this! I know it seems impossible at this time, but this too shall pass!
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Submitted 655 days ago...
Co-signer on car loan
When My step-daughter turned 18, I decided to co-sign a loan for her to help her start to establish credit. It was a car that was in my name that I had purchased for her. Since then, I have had to make 1 payment already, the car has been repeatedly vandalized due to poor choices of friends on her part, the car has been used in at least two robberies that we know of because she lets any one of her criminal friends use the car, she recently got an OWI and continues to drive without a valid license and loan out the car to others. She is out of control and we feel like we have no control over what could happen to us. I do understand, and did understand when I signed the loan papers how co-signing works. However, who could have foreseen what is going on now. What if anything can we do to either release ourselves of this liability, or protect ourselves from what we view as an impending doom. Thank you, Bryan Flannery
Is the car in your name? Do u know that if she is in a wreck, They could come back & sue you?
I would definitely get that car back. if it is not in your name, then unfortunately you can't take car back until she misses at the least 2 pymt, or 90 days legally, I think, without a pymt from her.
If only we had crystal balls!
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Co-signer on car loan
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