I helped my cousin purchase a new Toyota Camry, my credit score was 750 his was in the 500's because he said he had credit card debt. I co-signed, total amount financed was 36k.
He took the car, made the first two payments and the completley stopped paying in Feb 2022. I fought him for a while and he would refuse to give me the car or make a payment.
In May 2023 he got into an accident and totalled the car. He did not have insurance at the time, and did not get gap insurance on the car. The bank sold off the totaled car and the remaining balance is 30k.
At this point my credit is already gone, so should I just wait until the bank comes with a settlement to finish this debt off? Or should I just ignore it for another 5 years and wait for it to disappear?
I'm in NJ BTW
Submitted December 29, 2023 at 12:07AM by ModeBulky3103 https://ift.tt/xw5dnSy
