Back against the wall

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marah2827

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I co-signed a truck for my brother and he has defaulted on the account for 2 1/2 years. I've even given him a chance to take action to resolve this matter but resulted with - all talk and no action. It has gotten to the point when I call and inform him about a letter from the creditors that the truck payment is late, no response. Furthermore, leave messages on his answering machine that it needs to be paid on time, so it doesn't affect my credit. He's been avoiding my phone calls and mail letters; even though I've been willingly to work with him. I spoke to the company where the payment is on file with; explain to them my limited financial circumstances but no assistance. There response(the company) was as long as he paying even though its late they will not authorize a voluntary repossesion. Can anyone aid me -step by step procedures on getting possession of the truck(by peaceful means)? By the way, he stay in Houston, Texas and I stay in Arlington, Texas.
 
marah2827 said:
I co-signed a truck for my brother and he has defaulted on the account for 2 1/2 years. I've even given him a chance to take action to resolve this matter but resulted with - all talk and no action. It has gotten to the point when I call and inform him about a letter from the creditors that the truck payment is late, no response. Furthermore, leave messages on his answering machine that it needs to be paid on time, so it doesn't affect my credit. He's been avoiding my phone calls and mail letters; even though I've been willingly to work with him. I spoke to the company where the payment is on file with; explain to them my limited financial circumstances but no assistance. There response(the company) was as long as he paying even though its late they will not authorize a voluntary repossesion. Can anyone aid me -step by step procedures on getting possession of the truck(by peaceful means)? By the way, he stay in Houston, Texas and I stay in Arlington, Texas.

You have a real problem here but it all depends upon whether you are on the title. If you are a co-owner of the truck, then you have the right to take the truck yourself. If you are not a co-owner of the truck per your title, then you have a problem because you have just become a guarantor on the truck and can only work out something with the financing company and that will likely be expensive. You will then have to recoup costs from your brother.
 
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