All About Customer Modify – Obligation For Installment Loans

All About Customer Modify – Obligation For Installment Loans

Obligation for Installment Loans

Before January 1, 1997, just moms and dads or husbands and spouses whom co-signed on an installment loan for an auto had been mainly liable together with the owner that is actual of car.

The Illinois Supreme Court held that persons (other than parents or spouses) who co-signed as buyers on a motor vehicle loan contract, but did not take actual possession of the vehicle, could not be held primarily liable for the debt in a recent decision. Continue reading “All About Customer Modify – Obligation For Installment Loans”