AboutMichael Brotherton Expertise Consumer/Debtor Rights Advocate.
Current President of Financial Emergency, Inc FKA Debt Mediation & Financial Counseling. Inc, a debt mediation service.
30 years in the credit and collections industry. Former loan officer and debt collector. Managed two middle to large finance companies.
I am well versed in Loss Mitigation practices and the legal collection process. I have helped literally thousands of people over many years overcome serious financial problems such as foreclosure, creditor lawsuits and abuse by debt collectors. For more information about resolving your "financial emergency" visit www.financialemergency.com.
We actively promote Fair Debt Collection Practices and other consumer protection laws. We teach DEBTOR RIGHTS and enforcement of those rights. It is my opinion that the more informed you are of your rights in the credit and collections practices the more peace you can have dealing with your FINANCIAL EMERGENCY.
Most financial problems are fairly common and as such have some very common solutions. The key is understanding your rights in the collection process and how to enforce them if need be.
Primary business- Debtor Rights Advocacy and Debt Mediation relating to foreclosure, creditor lawsuits, and other serious financial problems.
www.financialemergency.com (copy and paste in browser)
Experience Former loan officer 23 of last 30 years. I have been a debt counselor and mediator since 1992. Current owner of Financial Emergency, Inc. A Debtor Advocacy organization. I also have a radio program called "Financial Emergency" where I routinely answer call in questions from listeners about credit, debt, and the collection system. My emphasis is on "Consumer/Debtor Protection" and the collection process.
Education/Credentials Many years hands on experience. No formal eduction other than Finance and Credit Management training through former employers where I managed two rather large finance companies.
Awards and Honors Numerous letters of recognition from previous employers for excellence in my field.
Question I cosigned on a loan for my stepson on or about June 2007, and I have had to make several payments because of his neglect, he moved out in Jan. 2008, got married and I was informed today via fed ex, that he was 2 mo. past due and I paid them again. My ques. is can I legally reposses the car and sell it to get it off of my credit?
Answer In order to take possession of the vehicle he would have to voluntarily surrender the vehicle to you or you would have to file suit against him to relinquish it. you have a good chance of winning a case such as this.
Two questions I have is whether you were listed as the primary borrower or secondary, and whether the car is in his name. Most co-signed loans aren't really co-signed loans in that the co-signer is usually the primary borrower. Either way, if you are making payments due to his neglect you should have a right to the vehicle. If you have any problems you may get the cooperation of the finance company and have them repo the car and let you take over. However, make sure they are willing to not report it as a repo or it could damage your credit.
