Yes, if the vehicle is repossessed and there is a deficit between the sale and the loan balance, (including fees and penalties)and the borrower cannot pay what is owed.
Yes. If the signer defaults on the loan, then you, as the cosigner, would be liable.
Yes.
they can be sued and ordered to pay a fine
Yes. If the account is not paid as agreed in the original contract the creditor can sue the debtor, but they ususally try to avoid legal action.
Yes
Yes, if the vehicle is repossessed and there is a deficit between the sale and the loan balance, (including fees and penalties)and the borrower cannot pay what is owed.
It is more likely the car will be repossessed by the lending agency, if you have defaulted on the loan. You may also be charged criminally. If you simply took a car without paying for it, this is classified as grand theft auto and, if caught, you will be charged criminally.
It does not matter if you don't have the car any more. What matters is the unpaid loan you took out on it when you bought it. It is because of the loan, not the car, that you are being sued. You can try re-negotiating with the car dealership and with the financial company. If that fails, you can try to hire a lawyer to protect your interests.
The Attorney General
Yes
No
Yes. If the signer defaults on the loan, then you, as the cosigner, would be liable.
Yes.
yes.
Broke, sued, socially ostracized, deceased.
Not for the same set of underlying facts. (not the same incident)