koondog:
Three things you can do.
1) Remove the account from your credit
Contact the credit bureaus in Canada, report the account as fraud. They may seek police report but most will remove it within 30 days. This is a normal occurrence. If they need police report, just complete the form simply as "fraudulent account." Don't add anything more. The reason is fraudulent account can mean many things from identity theft, to consigning for someone whose intent was to ghost and defraud you, which is your case. Once they remove the account, credit reports will block it from reporting.
2) Gangster move - repossess the car
Yes you have right to repossess it since you are on the loan. Work with a repossession company, repossess the car and park it in your garage. Tell them they have two options, sell the car and payoff the loan or refinance it alone.
3) Legal
Since you are the cosigner, you are still liable for the debt if they default and can be sued too. So, if you want to save yourself from that, file a lawsuit, provide evidence of them ghosting you and missed payments, which is causing you undue hardship. The judge will relieve you from the contract and send the lender a copy, or force him to return the car |
Travel › Re: I Helped A Nigerian Friend Get A Loan In Canada, But He Ghosted Me Without Payin by Ghazee01: 2:30pm On Mar 27, 2025
