Co Signing Car Loan Issues

Summary

Co-signers in Florida are responsible for car loans if the primary signer defaults. If threats are involved, it may be considered extortion. Consulting a lawyer specializing in contract law or consumer rights is advisable. Discuss the situation with the lender to understand rights and obligations. Gather evidence of threats and consult a lawyer to assess the situation further.

Full Conversation

My friend and the boyfriend recently broke up, and the boyfriend is threatening to turn in the vehicle if my friend does not write him a check for $*,*, which is the difference between the car value and the loan. My friend makes payments on the car through her checking account, and the boyfriend transfers her money. This month he stopped transferring the money and now they are in this situation. What are her legal rights in the state of Florida?
In Florida, co-signers are legally responsible for the car loan if the primary signer defaults. Here are some key points:
- Your friend can explore legal options if threats are involved.
- Discuss the agreement terms with the lender.
- Consult a lawyer specializing in contract law for detailed guidance.
Would your friend like to be connected to local lawyers for more assistance?
What is your legal advice?
While I'm based in Texas, I can provide some general advice that might be helpful for your friend in Florida:
- Legal Responsibility: Your friend, as a co-signer, is legally responsible for the car loan if the boyfriend defaults.
- Threats and Agreements: If threats are involved, consulting a lawyer specializing in contract law or consumer rights is advisable.
- Discuss with Lender: Your friend should discuss the situation with the lender to understand her rights and obligations.
If your friend needs more detailed advice or representation, connecting with a local lawyer in Florida might be beneficial. Would she like assistance in finding a lawyer?
Would extortion be viable in this situation?
Case Rating: *
Extortion involves obtaining something, typically money, through threats or coercion. In this scenario, if the boyfriend is using threats to obtain money from your friend, it might be considered extortion. Here are some points to consider:
- Extortion is a criminal offense.
- Gather evidence of threats (texts, emails, etc.).
- Consult a lawyer to assess the situation further.
Would your friend like assistance in finding a lawyer for more detailed advice?